EFCC Reveals N1.23trn Illicitly Moved from Nigeria

The Economic and Financial Crimes Commission (EFCC) announced that more than N1.230 trillion has been illicitly siphoned from Nigeria within the last year, highlighting significant concerns regarding the detrimental effects on the nation's economy. This information was revealed in Uyo, Akwa Ibom State, during a two-day capacity-building workshop organized by SecFin Africa in collaboration with the Africa Network for Environmental and Economic Justice (ANEEJ).

The workshop, themed “Strengthening CSOs and Media Capacity to Contribute to the Fight Against Illicit Financial Flows (IFFs),” aimed to equip civil society organizations (CSOs) and media practitioners with the necessary skills to monitor and advocate against such financial crimes. Theresa Nwosu, head of Public Affairs at the EFCC, urged CSOs and the media to devise new strategies to identify and prevent illicit financial flows.

Rev. David Ugolor, executive director of ANEEJ, emphasized that illicit financial flows pose a severe threat to Nigeria's economic development and public services, resulting in substantial losses that affect ordinary Nigerians.