EditorEconomic and Financial Crimes Commission (EFCC) Chairman, Abdulrasheed Bawa, has charged world leaders to intensify their fight against corruption in the global security, economic and social space.
The appeal was made by his Deputy Chief of Staff, Sambo Mayana, who represented him during a paper presentation titled “Combating of Crime, Corruption and implication for Development and Security”, at the 38th Cambridge International Symposium on Economic Crime, organized by the Center for International Documentation on Organized and Economic Crime (CIDOEC), Jesus College, University of Cambridge, United Kingdom.
He noted that resources that could support a country’s development in the area of security, health and education are lost through criminal acts like corruption, tax evasion, money laundering, and other illegal financial flows.
The EFCC blamed the decline in the standard of living of Africans in spite of their rich natural endowments on economic crimes such as illegal mining, smuggling of goods, illegal oil bunkering and illegal arms deals.
The chairman highlighted that the revenue generated is also being embezzled by government officials and their collaborators in the private sector, which does not allow for economic growth and development”
He disclosed that over N6 trillion naira has been invested so far into the war against terrorism, and N5.4 trillion was lost to tax evasion by multinationals, aside from the theft of resources in the nation’s oil and gas sector.
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