Olukoyede Restates Imperative of Collaborative Efforts in Fight against Corruption

Olukoyede Restates Imperative of Collaborative Efforts in Fight against Corruption

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has called for increased collaboration of all stakeholders in the fight against corruption.

He made the call in Abuja on Tuesday, July 23, 2024 when the Old Students Association of Federal Government College Ikom, Abuja Chapter came on one-day familiarisation visit to the corporate headquarters of the EFCC.

Olukoyede who spoke through the Head, Media and Publicity Unit and Spokesperson of the Commission, Dele Oyewale stated that winning the
anti-corruption fight required multi-stakeholders’ collaborative
involvement in all aspects of the fight including whistleblowing.

“The fight needs collaborative synergy, collaborative whistleblowing, collaborative building and collaborative integrity to be defeated. Corruption is not happening in outer space, corruption is happening in our immediate environment. It is in the best interest of all of us that we expose it when we see it happening. When you look at all these things, you will find out that collectively the power of collaborative engagement is crucial in the anti-corruption fight,” he said.

In decrying the hemorrhage of the economy owing to corruption, the Chairman noted that “The Centre for the Study of Economies of Africa, CSEA, once came out with very shocking statistics that Nigeria was losing $18 billion annually to corruption. When you look at the African continent in general, the continent is losing $88.6 billion to the issue of illicit illegal financial flows. When we come down to the specifics, we are losing a minimum of $500 million annually to internet fraud. Just last year, the National Bureau of Statistics said that we lost N700 million to bribery in 2023 alone”.

“What should these statistics compel us to do? It should make us more determined, challenged and focused on the fight against corruption. The need for collaborative efforts is not an emotional appeal, vain talk or mob campaign. It is a need to take our destiny in our own hands in the overall interests of our nation”, he said.

Mr. Wilson Uwujaren, Director of Public Affairs, EFCC, in his remarks says that the Commission holds old students associations in high esteem as generational bridges in the anti-corruption fight.

“Your association as far as we are concerned is a bridge between the past, the present and future, and we believe the steps that you have taken with this enlightenment and sensitization visit will inspire the present generation of students in Federal Government College, Ikom to toe anti-corruption line in their present and future endeavours”.

“Associations like yours have very important roles to play in the fight against corruption, because currently we are a nation that is challenged because of the involvement of the young generation in cybercrime. As mentors you are now, you occupy a frontage position to inspire the current generation of the Federal Government College, Ikom students to follow the path that you have followed that made you turned out to be responsible citizens of this country. I believe they would not join other youths who are involved in acts of criminality,” he said.

In his presentation on “Shielding against ATM Fraud: Proactive Strategies and Prevention Measures in the Nigerian Context,” Chief Superintendent of the EFCC, CSE Abdullahi Mamman of the Advance Fee Fraud Unit stated that getting shielded against ATM fraud in Nigeria required comprehensive and proactive approaches that comprise technological insights, customer education and regulatory compliance.
CSE Michael Adukwu of the Capital Market and Insurance Fraud Section, while speaking on “Exposing Investment Fraud Tactics: Safeguarding Personal and Institution Finance,” explained that averting investment fraud involved looking out for red flags, conducting due diligence, seeking
professional assistance before committing money. He cautioned against following investment paths not clearly defined by law, detailed inquiries and intelligent analyses.

Speaking on “Navigating the Cybercrime Landscape: Strengthening Defences against Digital Threats,” CSE Nwaka Daniel disclosed that navigating the cybercrime landscape involved maintaining a healthy cyber hygiene by constantly changing passwords, reading terms and conditions and avoiding unrestrained transferring and sharing of contents among others.