The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede has disclosed that though newly-emerging crimes are evolving in the nation’s financial space, the EFCC is sufficiently equipped to confront and conquer them.
He made this known at the inaugural Town Hall meeting of EFCC’s Zero Tolerance Club of the Ahmadu Bello University, Kongo Campus, Zaria.
Olukoyede, who was represented by Head, Economic Governance Section of the Kaduna Zonal Directorate of the EFCC, ACE II Sadiq Abubakar, in his the keynote address titled, “Following the Money: Legal Loopholes and the Fight Against Corruption in Nigeria,” noted that corruption was one of the biggest challenges confronting Nigeria and other developing countries. Corruption, he observed, “undermines public confidence, weakens institutions, discourages investment, and diverts resources intended for national development, affecting not only government institutions but also the quality of life of ordinary citizens.”
He assured the meeting that, though technology is making fraudsters to devise new schemes to ply their trade, the EFCC equally has modern investigative techniques and innovative enforcement strategies to fight them.
He reaffirmed the Commission’s commitment to advancing anti-corruption advocacies towards rooting out corruption, economic and financial crimes in the country.
Speaking on challenges, the EFCC boss identified delays in the criminal justice system as one of the major challenges in the fight against corruption, explaining that effective anti-corruption efforts require timely investigation, prosecution and adjudication. Prolonged legal proceedings, he noted, weaken cases and erode public confidence in the justice system. He called for the need to strengthen transparency, accountability, and enforcement mechanisms in the system to effectively address the issue of corruption in the country.
The dean, Faculty of Law of Ahmadu Bello University, Professor Salim Bashir Magashi, who represented the Vice Chancellor commended the engagement given the fact that it will help direct the students onto the path of integrity and discourage them from indulging in fraudulent acts.
The event also featured a debate by members of the Zero Tolerance Club on the topic, “Nigeria Urgently Needs a Specialised Anti-Corruption Court, Separate from Other Courts to Handle EFCC Cases.”
The staff adviser of the Zero Tolerance Club in the school, Bukar Suleiman disclosed that the club was established in the University out of the need to introduce accountability in the students’ union bodies. He warned the students against engaging in acts of corruption, noting that such acts are capable of ruining their future.