Intensify Financial Crimes Fight, Reps Tell EFCC

The chairman, House Committee on Financial Crimes, Hon. Ginger Onwusibe, has called on the Economic and Financial Crimes Commission (EFCC) to intensify its efforts to combat economic and financial crimes, stressing the need for increased accountability and operational transparency.

During an oversight visit to the EFCC headquarters in Abuja, Onwusibe highlighted the EFCC’s critical role in curbing financial malfeasance and enhancing Nigeria’s economic stability.

He emphasised the committee’s commitment to providing oversight and fostering cooperation to improve the agency’s efficiency and compliance with applicable laws.

“Financial crimes drain resources meant for essential programs, diverting them to private gain and hindering development,” Onwusibe said, noting that mismanagement and corruption continue to obstruct Nigeria’s economic progress.

The lawmaker stressed the importance of EFCC operatives adhering to lawful procedures, especially in cases involving arrests, bail, and debt recovery, and aligning with international best practices to safeguard the integrity of Nigeria’s financial systems.

He stated, “The EFCC must work transparently, ensuring that it is not perceived as a tool for political gains,” he urged the agency to address internal challenges and strengthen partnerships with other agencies, donors, and non-state actors.

In his remarks, EFCC chairman, Mr Ola Olukoyede, noted that the commission is committed to enforcing its mandate within legal boundaries to enhance Nigeria’s image locally and internationally.

“Our goal is to create an environment conducive to foreign investment and local economic growth,” the EFCC chairman said, alluding to the need to curb cybercrimes and ensure an investment-friendly atmosphere.