During an oversight visit to the Economic and Financial Crimes Commission (EFCC) headquarters in Abuja on November 11, 2024, Senator Emmanuel Udende, the Senate Committee Chairman on Anti-Corruption, commended the EFCC’s efforts in fighting economic and financial crimes. He praised the commission’s leadership and performance, highlighting the significant strides made in asset recovery and crime prevention under EFCC Chairman Mr. Ola Olukoyede.
Udende stated, “We have looked at the records, the budget performance, and what the EFCC has done in the past year, and we are impressed. The Commission has achieved remarkable results within limited resources, including recovering close to N250 billion and several million dollars’ worth of assets.” He added that the Senate Committee was highly satisfied with the EFCC’s transparency and dedication.
EFCC Chairman Olukoyede emphasized the importance of asset tracking and recovery, noting that holding criminals accountable requires removing access to their illegal profits. He reported close to 3,500 convictions within the past year, including high-profile cases. Addressing criticisms about focusing on cybercrime, Olukoyede defended the EFCC’s commitment, stating that cybercrime costs Nigeria over $500 million annually, constituting both economic sabotage and reputational damage.
The EFCC’s proactive stance against currency racketeering and the dollarization of the economy was also discussed, with over 50 convictions secured for crimes involving the Naira. Olukoyede assured that the EFCC prioritizes ethics and staff integrity, with ongoing internal audits and recent dismissals for misconduct.
The Senate Committee, after touring EFCC facilities, expressed satisfaction with the agency’s work, including the development of the EFCC Radio platform aimed at increasing public awareness of financial crimes.
Peoplesmind
