Abdulrasheed Bawa, The Chairman of Economic and Financial Crimes Commission (EFCC), says Nigeria has spent N6tn on the terrorism war since 2008.
The EFCC boss, revealed this during the 38th Cambridge International Symposium on Economic Crime, on Friday, September 10, 2021.
While presenting a paper titled ‘Combating Crime, Corruption and Implication for Development and Security,’ Bawa who was represented by Sambo Mayana his Deputy Chief of Staff, says the agency has recovered over N6bn from financial and economic saboteurs between March when he resumed office in February, 2021 and now.
Bawa also said that resources that could support a nations’s development are lost through criminal acts such as corruption, tax evasion, money laundering, and others.
He added that “From the time he took over as the Executive Chairman, on the 5th of March 2021, they have recovered over N6 billion, over $161 million, over £13,000, €1,730, 200 Canadian dollars, CFA 373,000, ¥8,430 and 30 Real Estates. They have arrested over 1500 internet fraudsters, many of whom are being prosecuted.”
“The spoiler effects on countries’ development processes are diverse, and particularly severe for fragile states: economic crime, including illicit financial flows, diverts much needed resources needed to rebuild countries’ public services, from security and justice to basic social services such as health and education.”
Read more on editorialtimes.com