T he International Police Organisation (INTERPOL) has revealed that hundreds of thousands of dollars are being flown out of Nigeria to other African countries and around the world on an hourly basis. This was disclosed by Garba Baba Umar, the INTERPOL Vice President for Africa, during the opening of a four-day workshop for Nigerian law enforcement agencies at the EFCC Academy in Abuja.
Evidence indicates that these funds are laundered before reaching the pockets of criminals, leaving hardworking and honest Nigerians to bear the consequences of such crimes. Umar highlighted that money laundering has taken a disturbing shape across Africa and the entire world, calling for concerted efforts from security agencies in Nigeria and other countries to address the issue.
INTERPOL has launched "Silver Notices Against Money Laundering" to tackle the scourge of money laundering and illicit financial flows, particularly in Africa. Umar stated, "With every successful laundering of criminal money, our country becomes more prone to crime. More drugs, more fraud, more corruption, and more violence. Every time criminal money is successfully laundered, our financial institutions take an additional blow."
The initiative aims to make it more difficult to launder illicit funds globally. Speaking on the workshop's theme, "Strengthening Capacity and Coordination against Financial Crimes," Umar emphasized that financial crimes have become transnational, necessitating regular training for law enforcement agencies to stay ahead of fraudsters.
The Executive Chairman of the EFCC, Ola Olukoyede, stressed the need for enhanced collaboration in tackling financial crimes. Speaking through Francis Usani, the Director of Fraud Risk Assessment and Control at the EFCC, Olukoyede noted that the complex nature of corruption requires collaborative actions by all stakeholders.
"Corruption in Nigeria and the world at large is a major stumbling block to development. It deserves serious collaboration among organizations responsible for fighting corruption," he said.
Stakeholders continue to call for more stringent measures to combat corruption, which remains a significant obstacle to Nigeria’s progress.
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