Corruption, Bane of Development in Nigeria — Olukoyede

Corruption, Bane of Development in Nigeria — Olukoyede

The Executive Chairman of the Economic and financial Crimes Commission EFCC, Ola Olukoyede has stated that corruption, economic and financial crimes are threats to development in Nigeria and other African countries.

The EFCC boss stated this in Abuja on Saturday, November 2, 2024, at the African Fashion Festival Vogue Limited.

The EFCC’s boss, who spoke through Head, Enlightenment and Reorientation, Assistant Commander of the EFCC, ACE11 Aisha Muhammed stated that there was need for committed actions against corruption owing to its devastating consequences to the nation.

“The impact of corruption on national development is multifaceted and far-reaching, affecting various aspects of the nation’s growth and prosperity. It affects the ⁠economic growth of a nation by reducing foreign investment, stifles entrepreneurship, and diverts resources. Corruption is responsible for the stagnation, retardation, distortion and dislocation of growth and development in our nation”, he said.

He noted that embracing fashion, design and creativity can be a creative and legal alternative to economic crimes for individuals who want to express themselves and earn a legal living, stressing that they will help divert their attention from negative to positive use. Highlighting on the economic importance of fashion and design, the EFCC boss stated that when carefully harnessed, the industry will boost African economies because of its critical role in job creation.

“However, the economic importance of fashion and designing cannot be underrated. The industry is one of the fastest-growing sectors in the nation’s economy. It’s an obvious fact that the fashion eco-system is playing a critical role in job creation, revenue generation, and economic development. Therefore, it is imperative for Nigerian youths to embrace fashion designing and entrepreneurship as an alternative to cybercrime; and to keep themselves busy in a legitimate way rather than getting involved in cybercrimes and other acts of crimes”, he said.

In her remark, the Minister of Arts, Culture, Tourism, and Creative Economy, Dr Hannatu Musawa, urged Nigerians to promote and patronize locally- made clothing to contribute to nation-building. She praised the initiative for promoting African designs globally through the festival, adding that the platform offers opportunities for showcasing African designers in the industry.

Festival founder, Hajiya Firdausi Muhammad, harps on the importance of collaboration, ethics and sustainable industry practice, adding that Africa has the potential to become a global fashion power house.

“Our industry must be built on a foundation of strong morals and ethics, fostering a sustainable and equitable environment for all. Together, we can create a platform that empowers African designers, artisans and models, propelling our fashion industry to unprecedented heights.”

Speaking on the Nigerian culture and heritage, the representative of the Inspector General, Nigerian Police Force, ACP Olumuyiwa Adejobi stated that the Nigerian culture which include dressing and fashion is the only heritage they have and hoped that it will not be eroded with any foreign culture.

“I always want us to have the belief that our dressing, our fashion, our culture, our tradition and moral values are our identity. We don’t want a situation whereby our identity, our culture, our moral value and our endowment and heritage will be eroded in Nigeria or on the African continent.”