EFCC reveals plans to go after people with unexplained wealth

• The Economic and Financial Crimes Commission (EFCC) has precocious been trying to hint Nigeria's funds stashed successful different countries
• Amid its respective investigations and prosecutions, the committee has urged the National Assembly to springiness it ineligible backing
• The EFCC brag noted that galore radical were slipping done their fingers arsenic determination was nary instrumentality allowing them to prosecute them

Ruth Okwumbu-Imafidon, a writer with Legit.ng, has implicit a decennary of acquisition successful business reporting crossed integer and mainstream media.

The Economic and Financial Crimes Commission (EFCC) has urged the National Assembly to walk a instrumentality criminalising unexplained wealthiness and luck successful the country.

EFCC Chairman, Ola Olukoyede, made this petition portion addressing the National Conference connected Public Accounts and Fiscal Governance organised by the Public Accounts Committees of the Senate and House of Representatives successful Abuja.

He noted that the lack of specified laws makes it intolerable for the committee to successfully prosecute nationalist officials erstwhile they clasp assets acold beyond their morganatic earnings.

The EFCC criticised the nationalist cognition of praising wealthiness without knowing its source. Photo credit: EFCC
Source: Facebook

His words:

“Help maine walk the Unexplained Wealth Bill. I’ve been begging for the past year. This aforesaid measure was thrown retired successful the past Assembly. If we don’t marque individuals accountable for what they have, we’ll ne'er get it right.“Someone has worked successful a ministry for 20 years. We cipher their full wage and allowances. Then we find 5 properties — 2 successful Maitama, 3 successful Asokoro. Yet we’re told to spell and beryllium a predicate offence earlier we tin act. That is absurd.”

EFCC makes shocking discoveries

Olukoyode revealed that the anti-graft bureau had made shocking discoveries since it started investigating the extractive industry.

He stated that their findings amusement a transportation betwixt the mismanagement and diversion of nationalist resources and the insecurity successful the country.

The EFCC brag pointed retired that efforts to punish nationalist officers progressive successful this enactment proved abortive due to the fact that the instrumentality often required the committee to beryllium a predicate offence similar theft oregon fraud earlier specified assets could beryllium seized, adjacent wherever they were intelligibly supra the means of the individual.

What does the Unexplained Wealth Bill cover?

The EFCC Chairman asked that the instrumentality should marque it a strict liability offence for immoderate idiosyncratic to person assets supra their known and ineligible income sources.

This would defender against economical and fiscal crimes, blocking each routes for corrupt nationalist officers to divert funds.

Olukoyede referred to respective visits extracurricular Nigeria by the EFCC trying to way looted wealthiness that has been stored successful different locations similar America, Turkey and adjacent Iceland.

He urged the custodians of stolen assets overseas to cooperate with the EFCC successful returning the assets to the country, stressing that custodians of stolen assets are arsenic blameworthy arsenic the thieves.

He besides spoke against the civilization of impunity wherever nationalist servants inactive nether prosecution for fiscal crimes are being celebrated, which further promotes impunity.

“We are doing this work. We spot radical who person stolen our money. We person shown you evidence. We’ve traced wherever the wealth went. We are already successful court. Yet, they’re being celebrated each implicit the place. Does that amusement we’re serious?"

Nigeria should not beryllium borrowing.

According to the EFCC boss, Nigeria could tally the full nationalist fund without immoderate request to get and worsen its debt profile, if the abundant earthy and mineral resources were not being diverted by greedy nationalist officers.

Note that the authorities conscionable took a $747 cardinal infrastructure loan for the Lagos-Calabar road project.

EFCC is prosecuting respective cases successful its combat against fiscal and economical crimes. Photo credit: EFCC
Source: Twitter

Olukayode called for transparency successful gross procreation and accountability successful nationalist expenditure, noting that it was the lone mode to extremity corruption successful the country.

EFCC sacks 27 unit for alleged misconduct

In related news, EFCC precocious dismissed 27 officers implicit respective offences, including misconduct and fraudulent activities.

Legit.ng reported that the EFCC spokesperson, Dele Oyewale, made the announcement connected Monday, January 6, 2025, but did not uncover their names.

He stated that the dismissal of the officers followed a thorough probe and proposal by the EFCC's Staff Disciplinary Committee.

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Source: Legit.ng