EFCC re-strategizing to prevent ‘dollars from flowing out of Nigeria’, others – Olukoyede

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede disclosed that its operatives are “re-strategizing” to prevent all forms of financial corruption attributed to Nigerians. 

Olukoyede made this statement on Monday as the Commission hosted the 1st International Criminal Police Organization (INTERPOL)/Japan International Cooperation Agency (JICA) Workshop at its Academy in Karu, Abuja. 

He provided assurance amid INTERPOL’s revelation at the event that dollars are illegally flowing out of Nigeria to other countries. 

Dollars laundered out of Nigeria — INTERPOL 

Declaring the four-day training workshop open, the INTERPOL Vice President for Africa, Garba Umar, highlighted that every time criminal money is successfully laundered, the nation’s financial institutions suffer an additional blow. 

“Evidence has shown that every hour, hundreds of thousands of dollars are flowing out of Nigeria to the region and across the world, laundered before it reaches the pockets of criminals to enjoy the profits of their crimes, while hardworking and honest Nigerians pay the price,” he said, as reported by Channels Television. 

“With every successful laundering of criminal money, our country becomes more prone to crime more drugs, more fraud, more corruption, and more violence,” he added. 

Umar urged stakeholders to re-examine the challenges of fighting transnational crimes in the country and reassess the strategies of relevant agencies. 

He also urged law enforcement agencies to reaffirm their determination and unity to Nigeria by providing security to citizens and, by extension, the global community. 

“The only way we can move forward as a country is by working together, identifying common problems, jointly devising solutions, and taking coordinated and cohesive action. Now is the time that we need to go far, by going together,” he added. 

EFCC is re-strategizing 

Olukoyede, who was represented by Francis Usani, EFCC’s Director of Fraud Risk Assessment and Control, stated that the daunting nature of the fight against corruption in Nigeria and globally requires serious collaboration among organizations responsible for combating corruption. 

He informed participants that while the EFCC has made significant progress in tracking and recovering financial crimes, it is now re-strategizing to prevent corruption. 

“Our records of convictions and recoveries set us apart, but we will not rest on our laurels. We are committed to doing more, and in this commitment, the EFCC is re-strategizing its operations with a focus on prevention, knowing that it is easier and cheaper to prevent corruption from occurring than to investigate and prosecute it,” he said. 

What you should know 

• EFCC is one of Nigeria’s leading anti-graft agencies.  
• To mark its cooperation and collaboration with international law enforcement agencies, the EFCC was chosen as the host of the event. 
• The workshop, jointly implemented by INTERPOL’s Financial Crime and Anti-Corruption Centre (IFACC) and JICA, aims to enhance the capabilities of law enforcement agencies in Nigeria regarding the fight against financial crimes. 
• The workshop drew participants from international and local law enforcement agencies, including the Nigeria Police Force, EFCC, and the Nigeria Financial Intelligence Unit (NFIU).