Vice President Kashim Shettima has commended the Economic and Financial Crimes Commission (EFCC) for its critical role in strengthening Nigeria’s financial integrity and supporting its removal from the Financial Action Task Force (FATF) grey list.
Speaking at the inauguration of the EFCC new zonal office in Ado-Ekiti, Ekiti State, Shettima said the commission’s anti-corruption and anti-money laundering efforts have helped boost investor confidence and advance Nigeria’s economic reforms.
He reaffirmed the Federal Government’s commitment under President Bola Ahmed Tinubu to strengthening anti-corruption institutions through improved infrastructure, welfare, operational independence, and capacity building.
The Vice President noted that corruption remains a major threat to national development, stressing that the EFCC has become a key institution in Nigeria’s economic and security architecture.
He highlighted the agency’s achievements, including successful cybercrime convictions and asset recovery efforts that have supported initiatives such as the student loan scheme and other social intervention programmes.
Shettima also called for stronger inter-agency collaboration to combat illicit financial flows, warning that criminal networks depend on illegal finance channels to fuel insecurity and economic sabotage.
According to him, sustained investment in anti-corruption agencies is essential for long-term economic stability and growth.
EFCC Chairman Ola Olukoyede stated that the commission is now focusing more on prevention through fraud-risk assessment and early intervention strategies.
He explained that a new directorate has been established to identify vulnerabilities in public financial systems and prevent corruption before it occurs.
Olukoyede added that recovered assets are being transparently deployed to support national development priorities, including education and social investment programmes, benefiting millions of Nigerians.
He reaffirmed that the EFCC’s presence across the country is intended for collaboration, not intimidation, and pledged continued transparency in asset recovery and management.
Key Takeaways
- Nigeria’s exit from FATF grey list boosts investor confidence
- EFCC strengthens anti-money laundering and anti-corruption systems
- Asset recovery funds support education and social programmes
- Government pushes stronger inter-agency collaboration
- Focus shifting from reaction to prevention in financial crimes
