SHOCK IN IBADAN: How ‘Yahoo Boys’ Bagged N5m iPhones With Fake Alert

​IBADAN – What began as a high-end shopping spree for two suspected internet fraudsters, popularly known as “Yahoo Boys,” ended in disgrace yesterday after they were caught attempting to defraud an Ibadan phone dealer of N5 million using a sophisticated fake bank transfer.

​The suspects, allegedly students of Lead City University, reportedly walked into the electronics outlet with the air of “big spenders,” requesting the latest Apple devices for themselves and their girlfriends. After a brief negotiation, the duo settled on three units of the iPhone 15 Pro Max and a single iPhone 16.

​The N5 Million ‘Flash’ Payment

​Eyewitnesses at the scene narrated how the suspects confidently initiated a bank transfer for the total sum. The shop owner, initially seeing a credit notification that appeared legitimate, allowed the men to depart with the premium gadgets.

​However, the “businessman’s instinct” kicked in just minutes later. Upon a closer audit of his account balance, the merchant realized the N5 million reflected in the notification was nowhere to be found in his actual bank ledger—a classic hallmark of “Flash Fund” apps used by fraudsters.

ADVERTISEMENT

​A Near-Lynching Averted

​The shop owner reportedly gave chase and intercepted the suspects just as they were about to leave the vicinity. A heated confrontation ensued, drawing a massive crowd of bystanders and other traders. Under the pressure of the brewing mob, the suspects reportedly confessed to the crime, admitting the transfer was indeed a “fake alert.”

​While the angry crowd moved to administer “jungle justice,” the shop owner intervened, opting for a legal resolution. He reportedly secured the suspects by tying them together before transporting them in his vehicle to the nearest police station.

​The recovered iPhones have been returned to the store’s inventory, while the suspects remain in custody pending further investigation by the Oyo State Police Command.