The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has underscored the need for increased collaboration among all stakeholders in the fight against corruption.
He made this appeal in Abuja on Tuesday, 23 July 2024, during a one-day familiarisation visit by the Old Students Association of Federal Government College Ikom, Abuja Chapter, to the EFCC headquarters.
Speaking through the Head of the Media and Publicity Unit, Dele Oyewale, Olukoyede stressed that winning the anti-corruption battle requires a multifaceted approach involving all stakeholders, particularly in whistleblowing.
“The fight against corruption necessitates collaborative synergy, whistleblowing, building, and integrity. Corruption is not occurring in outer space; it happens in our immediate environment. It is in all our interests to expose it when we see it happening. Collective engagement is crucial in the anti-corruption fight,” he asserted.
The Chairman highlighted the economic drain caused by corruption, citing alarming statistics from the Centre for the Study of Economies of Africa (CSEA) and the National Bureau of Statistics. He noted, “Nigeria loses $18 billion annually to corruption, while Africa as a whole loses $88.6 billion to illicit financial flows. Specifically, we are losing at least $500 million annually to internet fraud, and last year alone, bribery cost us N700 million.”
“These figures should motivate us to be more determined, challenged, and focused on combating corruption. The need for collaborative efforts is not just an emotional appeal or empty rhetoric; it is essential for taking our nation’s destiny into our own hands,” Olukoyede said.
Mr Wilson Uwujaren, Director of Public Affairs at the EFCC, also spoke, emphasising the significance of old student associations in the anti-corruption campaign. “Your association serves as a bridge between the past, present, and future. This visit will inspire current students of Federal Government College Ikom to adopt anti-corruption principles in their lives.”
He continued, “Associations like yours play a crucial role in combating corruption. As mentors, you are in a prime position to inspire the younger generation to follow a path of integrity, steering them away from cybercrime and other criminal activities.”
Chief Superintendent of the EFCC, Abdullahi Mamman, delivered a presentation on “Shielding against ATM Fraud: Proactive Strategies and Prevention Measures in the Nigerian Context.” He outlined the need for comprehensive and proactive measures, including technological insights, customer education, and regulatory compliance to protect against ATM fraud.
CSE Michael Adukwu of the Capital Market and Insurance Fraud Section discussed “Exposing Investment Fraud Tactics: Safeguarding Personal and Institutional Finance.” He advised vigilance, due diligence, and seeking professional advice before making investments, warning against poorly defined investment schemes.
Finally, CSE Nwaka Daniel spoke on “Navigating the Cybercrime Landscape: Strengthening Defences against Digital Threats.” He recommended maintaining good cyber hygiene by regularly changing passwords, reading terms and conditions carefully, and avoiding indiscriminate sharing of information online.
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