Chairman of the Economic and Financial Crimes Commission, (EFCC), Mr Ola Olukoyede, has explained why terror organisations have managed to sustained operations in the country for over a decade.
Olukoyede spoke on Tuesday during a lecture for members of the Executive Intelligence Management Course 18 of the National Institute of Security Studies, Abuja.
In his paper, titled “Violent Non-State Actors in Security Management: Issues, Challenges and Prospects for Peace and Development in Africa: EFCC Perspective”, Olukoyede warned that violent non-state actors posed a significant threat to Nigeria’s territorial integrity, political stability, economic prosperity, and social cohesion.
The EFCC boss, who spoke through the Director of Public Affairs of the EFCC, Wilson Uwujaren, lamented that the activities of the groups had not only led to mass killings and destruction of public infrastructure, but also triggered massive economic losses, rising food inflation and displacement of rural communities.
He stated that terror organisations sustained operations for over a decade, depending on deep financial networks, international linkages, proliferation of small arms and light weapons, with strong ties to money laundering and illicit financial flows.
In his closing remarks, the Director of Studies at the National Institute of Security Studies, Mr Hyginus Ngele, thanked the EFCC chairman for the depth of insight shared, expressing the hope that the chairman would continue to honour future invitations to engage with security professionals.
AT another event, Olukoyede called for a collective national effort against corruption.
He warned that the scourge continues to erode Nigeria’s democracy and economic livelihood.
Speaking during an award ceremony for outstanding and deserving individuals for integrity, justice and democracy, organised by the Nigerian Human Right Community at Lagos Airport Hotel, Ikeja, Olukoyede, represented by his Chief Of Staff, Michael Nzekwe, said corruption was not only a financial threat, but a systemic disease worsened by society’s unhelpful values.
He emphasised that materialism and the obsession with wealth had made it harder to combat corruption.
“Every corrupt act diminishes us as Nigerians,” he said.
Highlighting the staggering impact of corruption across Africa, Olukoyede cited the $88.6 billion yearly loss to illicit financial flows, asserting that Nigeria, as the continent’s most populous nation, bears the brunt.
He said the EFCC’s fight against corruption was relentless, but more effective when corruption was prevented before its manifestation.
He said that through the Fraud Risk Assessment and Control (FRAC) initiative, the commission was identifying and disrupting fraudulent activities at early stages, achieving more progress than traditional reactive methods.
