In a shocking revelation, Interpol Vice President for Africa, Garba Baba Umar, disclosed that hundreds of thousands of dollars are being flown out of Nigeria every hour, laundered, and used to fund criminal activities.
Umar made this statement at the EFCC Academy in Abuja, where he declared open a four-day workshop for Nigerian law enforcement agencies on combating financial crimes.
He emphasized that money laundering has taken a disturbing shape across Africa and the world, with Nigeria being a significant hub for illicit financial flows.
To combat this scourge, Interpol has launched the “Silver Notices Against Money Laundering” initiative, aimed at making it difficult for criminals to launder illicit funds globally.
Umar warned that with every successful laundering of criminal money, Nigeria becomes more prone to crime, including drug trafficking, fraud, corruption, and violence.
EFCC Chairman Emphasizes Need for Collaboration
EFCC Chairman, Ola Olukoyede, stressed the need for enhanced collaboration among stakeholders to tackle financial crimes, which have become transnational in nature.
He noted that the complex nature of corruption requires collective efforts from law enforcement agencies, financial institutions, and other stakeholders to break the cycle of corruption.
The workshop, themed “Strengthening Capacity and Coordination against Financial Crimes,” aims to equip law enforcement agencies with the necessary skills and knowledge to combat financial crimes effectively.
The event brought together experts from Interpol, EFCC, and other law enforcement agencies to share experiences and best practices in tackling financial Crimes.
Corruption has been identified as a significant obstacle to Nigeria’s development, with stakeholders calling for more stringent measures to fight against corruption.
The Interpol-EFCC collaboration is a step towards addressing this challenge and promoting economic growth and stability in Nigeria.
