The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has pledged to intensify monitoring of bank transactions to curb financial flows to criminals, including bandits and terrorists. Olukoyede made this statement on Wednesday at the 2024 Annual Civil-Military Conference organized by Civil-Military Cooperation at the National Defence College, Abuja.
Represented by Wilson Uwujaren, Director of the Public Affairs Directorate, Olukoyede emphasized the link between corruption and insecurity, stating that corruption fosters poverty, making unemployed citizens vulnerable to recruitment into banditry, kidnapping, and terrorism.
Olukoyede outlined the EFCC’s commitment to tracking financial transactions to prevent funds from reaching criminal networks, thereby reducing the financial incentives that drive these activities.
He assured that the commission would continue its efforts to monitor and disrupt the flow of illicit funds, which are often used to sustain violent criminal enterprises across the country.
The EFCC’s focus on financial surveillance aims to bolster national security by cutting off the financial lifelines of criminal groups, thus supporting broader efforts to address insecurity and corruption in Nigeria.