The Economic and Financial Crimes Commission, EFCC, has revealed that it recovered assets valued at over N156 billion within the past year.
This was disclosed by the EFCC Executive Chairman, Ola Olukoyede, on Wednesday. He stated this during the launch of the Zero Tolerance Club at the University of Abuja, Gwagwalada.
Addressing members of the club, the EFCC Chairman, added that the Commission secured 3,175 convictions over the same period.
He stated, “From May 29, 2023, to May 29, 2024, the EFCC recovered N156,276,691,242.30. This is along with significant amounts in foreign currencies: $43,835,214.24, £25,365.00, €186,947.10, ₹51,360.00, C$3,750.00, A$740.00, ¥74,754.00, R35,000.00, 42,390.00 UAE Dirhams. Others are 247.00 Riyals, and 21,580.00 in cryptocurrency.”
The Chairman who was represented by the EFCC Secretary, Mohammed Hammajoda, however, expressed concern over the rising involvement of youths in cybercrime, commonly known as “yahoo yahoo.”
Olukoyede highlighted the alarming rate of arrests and convictions among young people. He, therefore, urged the students to avoid such activities.
The Chairman warned that “Conviction for fraud leaves a life-long scar.” He, therefore, stressed the importance of channeling creativity into positive endeavours.
In his contribution, the Director of Public Affairs, DCE, Wilson Uwujaren, praised the efforts of the Commission in tackling financial crimes. He emphasized that EFCC is committed to mobilizing youths against corruption.
Uwujaren explained that the Zero Tolerance Club aims to engage students in continuous dialogue. He stated that club will educate the students on the importance of fighting corruption for Nigeria’s future.
The Vice Chancellor of University of Abuja, Abdulrasheed Na’Allah, thanked the organizers of the event. He, however, reechoed the sentiments by the EFCC.
The VC, therefore, urged the students to emulate their peers in developed nations. This, he said, they could by using their talents for innovation rather than fraud.
He, however, praised the EFCC’s initiative in establishing the Zero Tolerance Club at the University.
The Assistant Commander of the EFCC, David Ife, and the Head of the Enlightenment and Reorientation Unit, Aisha Mohammed, also spoke at the event. They pointed to the detrimental effects of cybercrime in the society. The EFCC officers, however, stated the importance of nurturing future leaders to be proactive anti-corruption ambassadors.
The highlight of the event was the presentation of EFCC manuals, magazines, and a club signage to the university. The items symbolized the start of a collaborative effort between the EFCC and the UniAbuja to combat corruption from the grassroots.
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