EFCC Chairman Praises Proceeds of Crime Act's Impact

Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), commended the Proceeds of Crime Act 2022 for its transformative impact on asset recovery during an opening ceremony of a workshop held at the EFCC Academy in Karu, Abuja. He emphasized that asset recovery management is central to the Commission's fight against economic and financial crimes.

The Proceeds of Crime Act 2022 is described as a game changer, offering a comprehensive legal framework for identifying, tracing, seizing, forfeiting, managing, and disposing of proceeds from crime. Olukoyede highlighted that the Act has strengthened financial intelligence investigations and enhanced prosecutorial effectiveness, thereby promoting public trust in the anti-corruption framework.

The workshop, co-organized with the African Center for Governance, Asset Recovery and Sustainable Development, aimed to assess and enhance the operational capabilities of relevant agencies in combating money laundering and terrorist financing.