Anti-money Laundering: EFCC Recovers Billions, Says Acting Chairman

By Uche Nnorom, Makurdi

The Economic and Financial Crimes Commission, EFCC has said through its enforcement activities, recoveries running into billions of naira have been recorded and the country’s anti-money laundering framework strengthened.

The Acting Executive Chairman of the Commission Abdulkarim Chukkol stated this at a day workshop for media practitioners on Thursday, themed Effective Reporting of Economic and Financial Crimes organized by Makurdi Zonal office.

Represented by the Makurdi Zonal Commander Friday Ebelo, the Acting Chairman explained that the training session is buoyed by the appreciation of the fact that Journalists occupy a strategic place in the fight against corruption.

According to him, “you are the vehicle through which the EFCC reaches the Nigerian public with information about our operations. You also, play crucial role in helping to mobilize the people to embrace the fight against corruption. This makes the media one of the most critical allies of the EFCC.

“I urge the media to continue to align itself with the progressive aspirations of Nigerians, to see that corruption is reduced to barest minimum, if not completely eliminated”, Chukkol said.

Head Legal and Prosecution Department Barr. Ramiah Ikhanaede in his paper entitled,’challenges of Prosecuting Economic and Financial Crimes in Nigeria, said the Commission recorded over 3,785 persons in 2022, the highest since its establishment.

He also, said the State has convicted more than 107 persons in five years with 43 convicted in 2023.

Barr. Ikhanaede attributed the increase to financial crimes to societal factor and urged Nigerians to shun the mentality of get-quick-rich syndrome but rather reward hard work and honesty.

While Stephanie Fitswemilo Philip, Head Advanced Free Fraud stated that majority of the Financial crimes are cyber related,disclosing that a 19 year old has been investigated and convicted for laundering over 190 million naira in one year in Benue State.

She further said the country has lost over 911 billion in 23 years to Bonzi and another 12.2 billion naira lost by banks from POS between January to June, 2023.