EFCC Chairman Olukoyede on Proceeds of Crime Act Impact

Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), expressed that the Proceeds of Crime Act (POCA) will significantly improve asset recovery and management in Nigeria. He made these remarks during a high-level seminar themed "Scale to Promote Integrity and Anti-Corruption Action Across Africa" held in Abuja.

Olukoyede highlighted that POCA provides a clear legal basis to enhance transparency and reduce delays in asset recovery. He noted that the EFCC has faced challenges in the past regarding asset deterioration and the lengthy disposal process.

The Act aims to streamline the asset recovery management process, allowing for more efficient operations. Olukoyede also mentioned the deployment of the Nigerian Education Loan Fund (NELFUND) and a consumer credit scheme as part of the commission's efforts to recover proceeds from crime.

Musa Aliyu SAN, Chairman of the ICPC, reaffirmed the commitment to promoting integrity and transparency across Nigeria and Africa.