EFCC Vows to Block Financial Flows to Bandits, Terrorists Through Banks
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has pledged to ramp up efforts in monitoring banking transactions to cut off financial flows to bandits, terrorists, and other criminal elements. Speaking during the 2024 Annual Civil-Military Conference at the National Defence College, Abuja, Olukoyede, represented by the Director of Public Affairs, Wilson Uwujaren, stressed the critical link between corruption and insecurity.
Olukoyede explained that corruption fosters poverty, making unemployed individuals vulnerable to recruitment into criminal activities such as banditry, kidnapping, and terrorism. He emphasized that by cutting off illicit funds, the EFCC aims to reduce the financial incentives that drive these crimes.
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“Corruption is central to the promotion of insecurity in our nation. When discussing national development, we must recognize how corruption undermines security management,” Olukoyede stated. He called for collective action against corruption, which, he said, has deprived Nigeria of resources essential for infrastructure and economic development, thereby exacerbating poverty.
The EFCC’s efforts will focus on ensuring that illicit money does not flow through the banking sector into the hands of criminals. Additionally, the Minister of State for Police Affairs, Imaan Ibrahim, urged all Nigerians to collaborate with law enforcement agencies to tackle insecurity, stating that “security is everyone’s responsibility.”
The conference gathered various stakeholders to discuss strategies for curbing insecurity and promoting national development.
Source: Punch
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