The combination of Nigeria’s unstable economy and young people desperate to become millionaires, by all means, has given rise to a group of fraudsters known as yahoo boys in the West African country. Although women are eager to make money by any means possible and have no regard for morals and societal values, the practice is mainly seen among the male gender, and it cuts across people in different spheres, including young undergraduates, school drop-outs, unemployed graduates, and even some self-acclaimed entrepreneurs. Many of these yahoo boys have become remarkably wealthy such that people now want to know who the richest yahoo boy in Nigeria is.
The richest yahoo boy in Nigeria? Meet the Top 10
1. Raymond Igbalode (Hushpuppi)
Real Name: Raymond IgbalodeNet Worth: $480,200,000Age: 38 years oldState of Origin: UnknownCover Business: Construction, Oil, and Gas
Raymond Igbalode, popularly known as Hushpuppi, is the richest Yahoo Boy in Nigeria, with an estimated net worth of $480,200,000. Although his exact state of origin is unknown, he hails from the western part of Nigeria and was born in Lagos. Hushpuppi became popular after he continuously showcased his affluence on social media, especially Instagram. He became known for displaying different designer wear and accessories; he particularly patronized Gucci. As if that was not enough attention, Raymond went on to bash celebrities, whom he believed wore fake designers. His media fight with some celebrities made him even more popular.
When Hushpuppi’s source of wealth was questioned due to his luxurious lifestyle, he claimed to own a construction company that invests mainly in oil and gas. However, his arrest in June 2020 revealed that all was a lie, and he was a fraudster. Upon his arrest, his real age surfaced. He was born on the 11th of October 1982, making him 38 years old. Also, his net worth is estimated at around $480,200,000. Raymond Igbalode was arrested after many years of defrauding his victims, especially the elite in the US, Austria, UK, France, South Africa, Luxembourg, some parts of Asia, and the Middle East.
Before his arrest, the big boy lived in Dubai, where he paid about $350,000 as monthly rent. He is also reported to have other mansions in Dubai. His fleet of cars included Range Rovers, a couple of Rolls Royce, three bulletproof SUVs, a G-Wagon, Mercedes Maybach, and a helicopter.
Other (Suspected) Richest Yahoo Boys in Nigeria
Aside from Hushpuppi, several other Nigeria big boys are believed to be yahoo boys even though they have not been caught. Their reckless spending, unnecessary showoff of a lot of cash, and unexplainable income source make people suspect that they are into something shady (yahoo yahoo). Below is a list of these suspected top ten richest yahoo boys.
2. Invictus Obi
Real Name: Obinwanne OkekeNet Worth: $23,200,000Age: 33 years oldState of Origin: Anambra SatateCover Business: Holding Company ( Invictus Group)
Following Hushpuppi closely on the list is Obinwanne Okeke, with an estimated net worth of $23,200,000. The 33-year-old man is from Anambra State and was born on the 9th of November 1987. Until his arrest in August 2019, Invictus was a celebrated business tycoon. Unlike other internet fraudsters, Invictus Obi does not display his wealth on social media, and he lived a very private life so as not to draw attention. He covered himself very well under the umbrella of the corporate world, so much that in 2016, Forbes listed him as one of 30 Entrepreneurs Under 30 to Watch, among his other achievements.
He is the founder of Invictus Group, an investment conglomerate dealing in construction, agriculture, oil and gas, renewable energy, telecoms, and real estate. This and other of his establishments, like Literacy Africa International, founded in Australia to raise awareness about literacy problems among African children, made it impossible for people to suspect that he was fraudulent. However, he was finally pinned down and sent to ten years imprisonment.
3. Ismaila Mompha (Mompha)
Real Name: Ismaila MomphaNet Worth: $11,000,000Age: 42 years oldState of Origin: UnknownCover Business: Mompha Bureau De Change
Ismaila Mompha, born on the 16th of June 1979, has an estimated net worth of $11,000,000. He is the CEO of Mompha Bureau De Change, located in Lagos State. The 42-year-old man also gained fame by flaunting his wealth on social media. From posting photos of luxurious cars and accessories to posing with a lot of money. He was also good friends with Hushpuppi until their social media fight caused them to become enemies.
Mompha was known as a big boy and businessman until September 2019, when EFCC arrested him for cybercrime. However, he was later released due to lack of evidence, but he insisted that he was innocent and had never scammed anybody. Regardless of his defense, many people still think that he is a yahoo boy because of the way he flaunts money online. Mompha also owns over fourteen cars in his fleet and an expensive mansion in Banana Island.
4. Mr. Woodberry
Real Name: Olalekan Jacob PonleNet Worth: $7,800,000Age: UnknownState of Origin: UnknownCover Business: Real Estate
Woodberry, whose real name is Olalekan Jacob Ponle, is close to being the richest yahoo boy in Nigeria. However, he does not have much of his personal detail in public space. However, he is known for his lavish lifestyle and flaunting of wealth on social media, as is common with other yahoo boys. He claims that he is into the real estate business, but this was discovered to be a lie after his arrest alongside Hushpuppi, who is apparently his good friend.
Woodberry has an estimated net worth of $7,800,000, and one of the ways he shows off his wealth is through his cars, including Lamborghini Urus, Rolls-Royce Dawn Black Badge, a 2019 Rolls-Royce Cullinan, and neon-yellow Mercedes-Benz G-wagon Brabus.
5. Baddy Oosha
Real Name: Badmus Akeem ONet Worth: $6,000,000Age: UnknownState of Origin: Ogun StateCover Business: Entertainment (Oosha Empire)
Baddy Oosha, whose real name is Badmus Akeem O, has an estimated net worth of $6,000,000. Baddy is from Ogun State and was born on the 30th of September. Although he is best known as a musician, actor, and CEO, people still believe that the bulk of his wealth is from fraudulent activities because of his extravagant lifestyle and how he shows off his wealth on social media.
6. Investor BJ
Real Name: UnknownNet Worth: $5,500,000Age: UnknownState of Origin: UnknownCover Business: Unknown
Investor BJ, known as IBJ for short, is a self-acclaimed businessman based in Malaysia. Although his personal details are not in the public space, IBJ has an estimated net worth of $5,500,000. He is a suspected yahoo boy because he perfectly fits into that description, and he equally lives a lavish lifestyle. He thinks of himself as the African representative of Gucci in Malaysia and has shaded Hushpuppi on social media on a few occasions.
7. Deskid Wayne
Real Name: UnknownNet Worth: $5,000,000Age: UnknownState of Origin: UnknownCover Business: Unknown
Deskid Wayne has a net worth of about $5,000,000. He was not known until he uploaded a video on Instagram in which he was smoking with a dollar bill, and the video went viral. Not much is known about him, but he is particularly known for his continuous giveaways. He is one of the youngest suspected yahoo boys in the country. Deskid has no defined business or source of his wealth. The Nigerian-born socialite is based in Ghana, and he owns many vehicles, including Toyota SUVs. He also owns different properties, including a house in the United States.
8. King Jide
Real Name: UnknownNet Worth: $5,600,000Age: 40 years oldState of Origin: Rivers StateCover Business: Unknown
King Jide, born on the 15th of September 1980, is a Nigerian big boy known for showing off his wealth like a yahoo boy. He was born in Rivers state and became famous after buying 30 Ace of Spades and 1 Dom Perignon in a single night in South Africa. He is also called the Mayor of Cape Town due to his lavish lifestyle in Nigeria and South Africa. Although he has no known income source, his net worth is estimated at $5,600,000, and he equally has many cars, including Range Rovers, Maserati, Dodge Charger, and different types of Rolls Royce.
9. B Naira
Real Name: Adewale Olalekan AdebayoNet Worth: $5,500,000Age: 32 years oldState of Origin: Ekiti StateCover Business: Real Estate, Crypto Trading
Adewale Olalekan Adebayo, popularly called B Naira, was born on the 20th of October 1988. He hails from Ekiti State and is best known as a musician, realtor, and crypto trader. Although he claims the listed jobs as his source of income, it is believed that he spends more than he could earn from being a musician, mainly because he is an upcoming musician. The 32-year-old has an estimated net worth of $5,500,000 and a fleet of cars, including a Red Range Rover, and two Rolls Royce, among others. He also bought a 2016 Toyota Prado SUV for his mother in 2018, on valentine’s day.
10. Shy Boss
Real Name: Adeshile Yusuff OninwoluNet Worth: $5,000,000Age: 32 years old state of Origin: UnknownCover Business: Forex Trading, Entertainment
Adeshile Yusuff Oninwolu is a good friend to B Naira, with whom he founded BNS Records in 2011. Born on the 13th of May 1989, the 32-year-old is a London-based entrepreneur, forex trader, and fast-rising music artiste. He has an estimated net worth of $5,000,000. However, he is suspected to be into some shady businesses because he appears to spend more than his acclaimed income sources could give him. He is also said to have about three classic houses in Lekki, Ikeja, and VI, all in Lagos State. Though he is a long way from being the richest yahoo boy in Nigeria, B Naira’s show off on social media has earned him a mention in any list of the richest yahoo boy in Nigeria.
Recap of the Top 10 (Known and Suspected) Richest Yahoo Boys in NigeriaRaymond Igbalode (Hushpuppi) – $480,200,000Invictus Obi – $23,200, 000Ismaila Mompha (Mompha) – $11,000,000Mr. Woodberry – $7,800,000Baddy Oosha – $6,000,000Investor BJ – $5,500,000Deskid Wayne – $5,000,000King Jide – $5,600,000B Naira – $5,500,000Shy Boss – $5,000,000
How They Got the Name Yahoo Boys
The name yahoo boys came from the international search engine and web portal Yahoo because its email was the major way they scammed their victims. Although in recent times, they have grown beyond the use of emails. Their practice is also referred to as 419. This number is derived from the article of the Nigerian Criminal Code, which deals with fraud.
Yahoo-yahoo used to be a rare crime way back, but nowadays, it has become the most common means of livelihood among young boys. Ironically, these days, they are envied rather than condemned. The lavish lifestyle of those who are into this activity also attracts and pressurizes more youth into joining. These boys believe in instant monetary reward, and they have many schemes by which they operate.
How Do Yahoo Boys Make Their Money?
One of the main tools every yahoo boy needs is a laptop and stable internet access. They meet most of their victims online and swindle large amounts of money out of them. There are many means through which they scam their victims, but one of the most basic is the “web free-style,” as it is called.
Most yahoo boys start with this format. They register a private account on any famous dating site and upload a random photo of any good-looking young man. Next, they target ladies who will fall in love with them so they can ask them for money to pay their bills or make investments. They also do this on other social network sites. This scheme is said to have low risk but high profit.
Another method is through what they call “phishing.” This is a more professional technique through which they deceive people and get their private data, including passwords, usernames, and credit card information. They can also obtain credit card information by standing around ATMs and waiting for users who may not operate the machine by themselves. Their prey is mostly older people and illiterates. These con artists then pretend to help the vulnerable user and, in the process, obtain their credit card details, switch the card and make away with the original card of the victim.
Again, these fraudsters sometimes pose as real estate agents online. They upload pictures of standard buildings and apartments and advertise them as buildings for lease. Unsuspecting victims then pay money to the account which they will provide. Once the payment is made, the real estate agent ceases to exist.
Distinguishing Features of Yahoo Boys – How to Know Them
Although some people try to profile yahoo boys through their physical appearances, such as having braided or locked hairstyles, ear piercings and rings, flashy cars, and bling, these are not the best ways to know a yahoo boy. This is because many guys who may not be into the act also dress in this manner as it has become the latest fashion trend. This physical criterion may lead to the accusation or arrest of innocent people. However, many of these fraudsters show off their wealth in this manner.
Apart from their lavish lifestyle and reckless spending, there are other ways to know a fraudster. One sign is that they possess a lot of gadgets and sim cards that facilitate their work online. Another sign is that they spend many hours online and are very secretive about their activities and time spent online. Also, some have no other means of income, so they lie about what they do for a living. You can also spot them by their company. Usually, yahoo boys like to hang out with guys who are in the same business as themselves, and you can tell when they are all exhibiting similar traits and lifestyles.