The Economic and Financial Crimes Commission (EFCC) is a Nigerian law enforcement agency that investigates financial crimes such as advance fee fraud (419 fraud) and money laundering. The EFCC was established in 2003, partially in response to pressure from the Financial Action Task Force on Money Laundering (FATF), which named Nigeria as one of 23 countries non-cooperative in the international community’s efforts to fight money laundering.
Recently, Nigeria govenment have secured funds coined from corruption. The fight against Corruption according to the acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, will continue irrespective of who is affected. He re-enforced that the commission is at the peak of its game to curb corruption.
Magu made the remark on Thursday, April 13 during an interactive session with staff of the commission to mark its 14th year anniversary. The anti-graft agency boss declared that the commission was determined to wipe out corruption from Nigeria.
On Tuesday, April 11, 2017 Economic and Financial Crimes Commission, EFCC, staggered on the sum of N4billion suspected to be proceeds of crime.The suspected owner of the account and the account officer are currently on the run.
According to Magu,
“We will continue to fight corruption whether anybody likes it or not. Because, we know that, that is the only way we can bring succuss to this country. Now that we have found ourselves in this position, please, let us put heads together”.
“My door is completely open. If something is going on wrong, please come and tell me. If you don’t want to show your face, just write a letter to me. Information is very important. I am alone, if you don’t tell me what is wrong, I would not know”. He further stated.
In addition, Magu said
“I don’t want to know what is right, just tell us how we can correct the system itself, because the system needs correction every day. People are complaining about corruption in the EFCC, which is not good. We should not allow some individuals to spoil our names here.”
In order to urge the commission to approach the anti-graft selflessly, in the interest of the nation, Magu disclosed that the successes of the commission were being celebrated in the international communities.
“if you go to United States of America and the United Kingdom, they are all awash with news about us because of this Malabu case. So we are succeeding. Be part of the success. Forget about your own interest. Consider the overall interest of this country and the interest of the nation,” he said.
Economic and Financial Crimes Commission, EFCC, also intercept large sum of money in various currencies at the popular Balogun market in Lagos. The monies include €547,730 and £21,090 as well as N5,648,500 . The total haul is about N250m at the prevailing exchange rate at the parallel market.
Nigeria EFCC have recovered huge amount of money for the country in the recent time. The commission have promised to curb corrupt activities in the country in order to sustain growth and development.
