EFCC vows to disrupt terrorist financing networks by cutting off illicit funds to bandits and working closely with the armed forces to tackle insecurity in Nigeria.mynewslive
EFCC Tightens Control Over Banking Sector to Cut Off Funds to Bandits and Terrorists
The Economic and Financial Crimes Commission (EFCC) has committed to disrupting terrorist financing networks by closely monitoring banking transactions and cutting off the flow of illicit funds to bandits and terrorists. EFCC Chairman, Ola Olukoyede, through his representative Commander Wilson Uwujaren, made this announcement at the 2024 Annual Civil-Military Conference held at the National Defence College, Abuja.
Olukoyede highlighted the link between corruption, poverty, and rising insecurity in Nigeria, stressing that financial corruption fuels criminal activities such as banditry, kidnapping, and terrorism. The EFCC aims to collaborate with the armed forces to ensure that illicit money does not reach the hands of criminal elements.
He stated, “Corruption is a major factor in promoting insecurity. By blocking illicit funds, we hope to reduce the financial incentives for banditry and terrorism.”
The conference also focused on developing actionable strategies to combat insecurity and foster national development, with contributions from stakeholders across various sectors.
Rear Admiral Olumuyiwa Morakinyo Olotu, Commandant of the National Defence College, and conference convener Adams Otakwu, emphasized the role of civil society in promoting accountability and national unity.
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