EFCC equipped to tackle emerging financial crimes – Olukoyede

n n

The Economic and Financial Crimes Commission has said it has strengthened its capacity to combat emerging financial crimes, assuring Nigerians that it possesses the technology, expertise and investigative tools required to counter increasingly sophisticated criminal schemes.

n

The anti-graft agency also identified delays in Nigeria’s criminal justice system as a major obstacle to the fight against corruption, stressing the need for faster investigations, prosecutions and adjudication to sustain public confidence in the country’s anti-corruption efforts.

n

The EFCC Chairman, Ola Olukoyede, stated this on Thursday at the inaugural Town Hall Meeting of the EFCC’s Zero Tolerance Club at Ahmadu Bello University, Kongo Campus, Zaria.

n

Represented by the Head of the Economic Governance Section of the Kaduna Zonal Directorate of the EFCC, Assistant Commander of the EFCC II, Sadiq Abubakar, Olukoyede delivered a keynote address titled, “Following the Money: Legal Loopholes and the Fight Against Corruption in Nigeria.”

n

In a statement issued by the commission on its verified X account on Thursday, Olukoyede described corruption as one of the greatest impediments to Nigeria’s development.

n

“Corruption undermines public confidence, weakens institutions, discourages investment, and diverts resources intended for national development, affecting not only government institutions but also the quality of life of ordinary citizens”, the statement quotes Olukoyede as saying.

n

The statement added that while acknowledging the evolving nature of financial crimes, the EFCC boss assured that the commission remains ahead of fraudsters through technology-driven investigations and innovative enforcement strategies.

n

“He assured the meeting that, though technology is making fraudsters devise new schemes to ply their trade, the EFCC equally has modern investigative techniques and innovative enforcement strategies to fight them”, it added.

n

Olukoyede also reaffirmed the commission’s commitment to strengthening anti-corruption advocacy across the country.

n

“He reaffirmed the Commission’s commitment to advancing anti-corruption advocacies towards rooting out corruption, economic and financial crimes in the country,” the statement continued.

n

Speaking on challenges confronting the anti-corruption fight, Olukoyede identified delays in the criminal justice system as a major concern.

n

According to him, effective anti-corruption efforts require prompt investigation, prosecution and adjudication, warning that prolonged legal proceedings weaken cases and diminish public confidence in the justice system.

n

He therefore called for stronger transparency, accountability and enforcement mechanisms to improve the country’s anti-corruption framework.

n

Also speaking at the event, the Dean of the Faculty of Law, Ahmadu Bello University, Prof. Salim Bashir Magashi, who represented the Vice-Chancellor, commended the initiative, saying it would help steer students towards integrity and discourage fraudulent practices.

n

The event also featured a debate by members of the Zero Tolerance Club on the topic, “Nigeria Urgently Needs a Specialised Anti-Corruption Court, Separate from Other Courts to Handle EFCC Cases.”

n

The Staff Adviser of the Zero Tolerance Club, Bukar Suleiman, said the club was established to promote accountability within students’ union bodies and warned students against engaging in corrupt practices.

n

“He warned the students against engaging in acts of corruption, noting that such acts are capable of ruining their future,” the statement added.

n

The EFCC has continued to promote anti-corruption education through its Zero Tolerance Clubs established in tertiary institutions across the country.

n

The initiative is designed to inculcate values of integrity, accountability and transparency among young Nigerians while complementing the commission’s enforcement activities through preventive public enlightenment.

n n