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Promoting Good Governance.

Magu to African nations: Illicit financial flows crippling our economies

Calls for effective collaborations

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AS part of efforts to check illicit financial flows, Ibrahim Magu, the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), on Monday advocated for effective collaborations among the African countries.

He said this becomes imperative to winning the fight against corruption on the continent.

“The intricate webs of illicit financial flows developed by organized criminal groups that have deprived African economies of crucial resources for development, have made the need for effective collaboration among the African States in the fight against corruption more imperative,” Magu said.

“The task of fighting corruption is not only Herculean but sophisticated, as organized criminal gangs are daily devising new and sophisticated means of perpetrating fraud and other criminal activities”.

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The EFCC boss spoke at the commencement of a five-day Strategic Management Training Workshop held for Anti-Corruption Agencies in Commonwealth Africa. It was organized by the EFCC in collaboration with the Commonwealth Africa Anti-Corruption Centre (CAACC), at the EFCC Academy, Karu, Abuja.

Magu emphasized the importance of capacity building for officers of the law enforcement agencies. This he noted would equip the personnel with required skills to tackle new and emerging vices and financial crimes.

Represented by Olanipekun Olukoyede, Secretary to the Commission, the EFCC Chairman stressed that for anti-corruption agencies to be successful in their mission, they must be ahead of fraudsters and criminals.

“The programme is designed to improve the capacity of Anti-corruption Agencies in [the] Commonwealth in order to deliver the mandate of fighting the corruption scourge militating against our collective developmental efforts,” he stated.

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