Ola Olukoyede, the chairman of the Economic and Financial Crimes Commission, declared on Wednesday that the commission will keep an eye on bank transactions in an effort to stop money from flowing to terrorists and other criminals, such as bandits.
Olukoyede also emphasized the link between corruption and insecurity, pointing out that poverty is a byproduct of corruption and that unemployed people are therefore more susceptible to being recruited into banditry, kidnapping, and terrorism.
Olukoyede gave these statements at the 2024 Annual Civil-Military Conference, which was held at the National Defense College in Abuja and was sponsored by Civil-Military Cooperation, on behalf of Wilson Uwujaren, Director of the Public Affairs Directorate.
In order to stop money from reaching terrorists and bandits, Olukoyede pledged that the EFCC will step up efforts to monitor the movement of monies, especially in banking transactions. He further said that by making these efforts, the financial motivations behind these illegal activities would be lessened.
One of the main factors contributing to the spread of insecurity in this country is corruption,” he declared. Recognizing the influence of corruption on national security management and development is crucial when talking about insecurity and national development.
Nigeria’s Minister of State for Police Affairs, Imaan Ibrahim, has urged the nation to collectively fight corruption, which has become a significant challenge to the country’s progress. Corruption deprives the nation of resources needed for infrastructure and digital services, exacerbating poverty. Corruption breeds poverty, leading to joblessness and criminal activities like banditry, kidnapping, and terrorism. Ibrahim emphasized the need to monitor the flow of funds, particularly in the banking sector, to prevent illicit money from falling into the hands of criminals. He emphasized that security is everyone’s responsibility, not just the police and law enforcement agencies.
