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Terrorism War: Nigeria Has Spent N6trn Since 2008, Says EFCC

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Leshi Adebayo

 

 

The Chairman of Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, on Friday, disclosed that the Federal Government has spent N6 trillion on the terrorism war between 2008 and now.

In a paper presentation titled, ‘Combating Crime, Corruption and Implication for Development and Security,’ Bawa made the statement at the 38th Cambridge International Symposium on Economic Crime.

The event was organised by the Centre for International Documentation on Organised and Economic Crime, Jesus College, University of Cambridge, United Kingdom.

The EFCC boss, who was represented by his Deputy Chief of Staff, Sambo Mayana, stated that between March when he took office and now, the anti-graft agency has recovered over N6bn from financial and economic saboteurs.

“From the time I took over as the Executive Chairman, on the 5th of March 2021, we 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. We have arrested over 1,500 internet fraudsters, many of whom are being prosecuted,” he said.

This was contained in a statement by EFCC spokesman, Wilson Uwujaren, titled, ‘In UK, Bawa calls on world leaders to rise to the challenge of fighting corruption.’

Quoting a report by the Organisation for Economic Cooperation and Development (OECD), Bawa noted that resources meant for a country’s development are lost through criminal acts like corruption, tax evasion, money laundering, among others.

“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,” he noted.

Bawa, however, said all hope was not lost as the country, under the administration of President Muhammadu Buhari, has demonstrated commitment and political will in dealing with economic crimes through a number of legislative and institutional reforms.

 

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