The Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offenses Commission (ICPC) have made significant strides in combating corruption and financial crimes in Nigeria. In 2024, both agencies reported remarkable asset recovery and successful prosecutions, marking a year of unprecedented achievement.
According to Zakari Mijinyawa, Director of Legal Services at the Office of the National Security Adviser (ONSA), the EFCC alone managed to recover a staggering N248 billion and $105 million in cash, along with 753 duplexes. Additionally, the ICPC successfully tracked 1,500 projects across the country and forced Ministries, Departments, and Agencies (MDAs) to forfeit N10.8 billion in unspent funds. Together, both agencies secured 3,468 convictions over the course of the year.
Mijinyawa spoke at a press conference hosted by the Strategic Communications Interagency Policy Committee (SCIPC) in Abuja on December 16, 2024. He described these achievements as a “milestone” in the fight against corruption, demonstrating the agencies’ dedication and effectiveness in tackling financial crimes.
The EFCC’s efforts, led by Executive Chairman Ola Olukoyede, included several significant reforms, such as the creation of a new Fraud Risk Assessment and Control (FRAC) department and the restructuring of its zonal offices. The commission also launched its radio station, EFCC 97.3FM, to raise public awareness about financial crimes. Among its highlights, the EFCC held a national cybercrime dialogue with stakeholders, including President Bola Ahmed Tinubu, and launched a special task force that resulted in 35 convictions related to naira abuse.
On the international front, the EFCC strengthened its partnerships with agencies like the FBI and the Royal Canadian Mounted Police, assisting in the recovery of assets for foreign fraud victims. Olukoyede’s leadership as President of the Network of Anti-Corruption Institutions in West Africa (NACIWA) further bolstered regional anti-corruption efforts.
Mijinyawa also highlighted the ongoing prosecution of several high-profile individuals, including former governors, ministers, and Godwin Emefiele, former Governor of the Central Bank of Nigeria. These prosecutions underscore the EFCC’s commitment to ensuring justice and accountability in cases of financial malfeasance.
The ICPC also had an impressive year, achieving a total recovery of N29.685 billion in cash and $966,900.83, alongside the forfeiture of N10.804 billion from MDAs. Through its Constituency and Executive Projects’ Tracking Initiative (CEPTI), the ICPC successfully tracked 1,500 projects across the nation, processed 851 petitions, and investigated 243 cases, 63 of which are currently in court.
Furthermore, the ICPC’s international standing was bolstered by Nigeria’s re-election to the GlobE Network Steering Committee, a global anti-corruption network that promotes collaboration among law enforcement agencies worldwide.
In other anti-financial crime efforts, Mijinyawa praised the Nigerian Financial Intelligence Unit (NFIU) for leveraging AI-driven technologies to improve the accuracy of financial intelligence reports. The NFIU also played a key role in training Financial Intelligence Units (FIUs) across West Africa, promoting regional cooperation to combat illicit financial flows. International recognition came when the NFIU’s staff were elected to leadership positions in global organizations like the Egmont Group and Interpol.
In the ongoing fight against drugs, the National Drug Law Enforcement Agency (NDLEA) made significant progress in 2024, arresting 14,480 individuals, including 15 drug barons, and seizing 2.37 million kilograms of illicit drugs. The agency also secured 2,867 convictions and sensitized over 1.3 million people through its War Against Drug Abuse (WADA) initiative.
These achievements reflect the Nigerian government’s unwavering commitment to eradicating corruption, improving governance, and fostering transparency across the nation.
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