FG: Corruption hurting nation’s image, hindering foreign investments


Secretary to the Government of the Federation (SGF) Boss Mustapha has inaugurated the 23-member governing board of the Economic and Financial Crimes Commission (EFCC), with a charge to members to put in their best to combat the hydra-headed monster called corruption.

He also said financial crimes were hurting the country’s image globally and robbing it of foreign direct investments.

SGF Mustapha, who spoke Thursday in Abuja, said: “The unfortunate thing is that what we have battled with this internally and in-country, we have successfully exported it out of this country.

“So, your job and your role would extend beyond the borders of this nation. Because it does hurt our image as a country, it has deprived us of even direct foreign investment.

“It has created a doubt as to the sincerity of people doing business with us, outside the shores of our country, so we must do everything and you are the ones that are pivoted, assigned the responsibility of creating a new image for Nigeria, and your actions and activities will in no small measure help Nigeria redeem its image.”  

The SGF stressed the need for members of the board to ensure economic and financial crimes were tackled head on.

Mustapha said: “You are, however, required to put in your best to combat financial and economic crimes in the country. The Commission is empowered to prevent, investigate, prosecute and penalise economic and financial crimes and is charged with the responsibility of enforcing the provisions of other laws and regulations relating to economic and financial crimes, as well as fight terrorism.

“Let me reiterate the fact that Governing Boards are creations of the enabling statutes of the various institutions, with the main responsibility for giving policy direction to Management, in order to contribute towards the developmental goals of Government. This presupposes that the Management should be allowed to execute its day-to-day activities without undue interference by the Boards.

“I therefore, expect that all hands will be on deck to generate robust policy initiatives that will help this administration achieve its fight against corruption and revamp the economy. Similarly, in carrying out your responsibility as Board Members, you must also eschew corruption totally as Government will not hesitate to sanction all infractions.”  

In his remarks, chairman of EFCC boss, Mr Abdulrashid Bawa, said the absence of the board for six years had negatively impacted the commission’s operations.

“The EFCC has been without board for six years sequel to a series of events that had happened which warranted the non-existence of the board. So, it is something that gladdens the heart, with me, of course, being a former staff of the EFCC, and now chairman of the EFCC, that today the EFCC is having a board spearheading the policy direction of this problem that we have, the economic and financial crimes in this country.

“As you have said, Your Excellency, we have a saying at the EFCC that we have one of the most cosmopolitan boards, looking at public service in this country, looking at the composition of the fact that all law enforcement, and security organizations in this country are represented on the board as well as other regulatory agencies like NICOMSAT as well as Central Bank of Nigeria.

“So, we’re happy for this day. And I want to assure Your Excellency and the Government of the Federal Republic of Nigeria, that we’re not unfamiliar with the daunting task before us. We have been doing well. Last year, had been a difficult year with COVID-19. But the EFCC has managed to set a new record in terms of recoveries as well as, you know, convictions.

“Last year alone, Your Excellency we recorded 2,220 convictions, which is the highest ever recorded within one calendar year by the EFCC. The closest to that was in 2019 when the EFCC recorded only 1,280 convictions. Looking at also the figure that we have lost within the same calendar, we lost 37 cases. And we won 2,220.

“If you do the maths, Your Excellency, you will understand that we had 98.54% success rate in court. But with the inauguration of this board, I believe with the wealth of experience that all of us are bringing to the board, we will be able to do better,” he said.

Members of the board include Luqman Muhammad, Anumba Adaeze, Alhaji Kola Raheem Adesina, Alhaji Yahaya Muhammad, Haruna Nuhu Koko (State Security Service), Reginald Chukwudi Karawusa (Security and Exchange Commission), Pius Agboola (National Insurance Commission), Salisu Abdu (Nigeria Communications Commission), Nwakaego Celine Nwajei (Nigerian Postal Service), Justine B, Nidiya (Corporate Affairs Commission), U. G Mohammed (Nigeria Custom Services), Muhammed Aminu Muhammed (Nigeria Immigration Service), Umar Maman Sanda (Nigeria Police Force), Emmanuel Andrew Naman (National Intelligence Agency) and Ibrahim Abdul (National Drugs Law Enforcement Agency).

Others are Gabriel Christopher (Federal Ministry of Finance), Adamu Shaibu (Ministry of Foreign Affairs), Jeremiah Abue (Central Bank of Nigeria), Galadima Yusufari Gana (Nigeria Deposit Insurance Corporation), Justice George Abang Ekpungu (Ministry of Justice) and the Secretary to the Commission.

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