Boss98.9 FM
The Economic and Financial Crimes Commission (EFCC) has emphasized the critical role of asset recovery in combating economic and financial crimes, describing it as a significant deterrent to corrupt practices.
This was highlighted by EFCC Chairman Ola Olukoyede during a recent oversight visit by the House of Representatives Committee on Financial Crimes to the Commission’s headquarters on Tuesday in Abuja.
Olukoyede noted the challenges in financial crimes investigations, emphasizing that asset tracing must begin at the start of any investigation while he explained that cutting off access to proceeds of crime weakens those under investigation, thereby enhancing the effectiveness of the EFCC’s efforts.
The EFCC reported significant achievements, including about 3,500 convictions between October 2023 and October 2024, alongside a substantial number of cases filed in court while the Chairman of the Financial Crimes Committee, Rep. Ginger Onwusibe, commended the EFCC for its budget implementation and affirmed the National Assembly’s support for enhanced funding in 2025.
He lauded Olukoyede’s uncompromising stance in the fight against corruption, highlighting that investigations remain impartial, without regard to ethnicity or political affiliation.
