Economic and Financial Crimes Commission (EFCC) has reaffirmed its readiness to combat emerging financial crimes, saying it has upgraded its technology, expertise and investigative capabilities to tackle increasingly sophisticated criminal activities.
EFCC Chairman, Ola Olukoyede, made the declaration on Thursday during the inaugural Town Hall Meeting of the Commission’s Zero Tolerance Club at Ahmadu Bello University’s Kongo Campus in Zaria.
Represented by the Head of the Economic Governance Section of the Kaduna Zonal Directorate, Assistant Commander of the EFCC II, Sadiq Abubakar, Olukoyede delivered a keynote address titled, “Following the Money: Legal Loopholes and the Fight Against Corruption in Nigeria.”
According to a statement shared on the Commission’s verified X account, Olukoyede described corruption as one of the biggest barriers to Nigeria’s development, noting that it weakens institutions, discourages investment and diverts resources meant for national growth.
He said corruption erodes public confidence, undermines governance and negatively affects the quality of life of ordinary Nigerians by limiting the impact of government policies and development initiatives.
The EFCC chairman acknowledged that financial crimes are becoming more sophisticated as criminals continue to exploit technological advancements. However, he stressed that the Commission has also enhanced its investigative methods and enforcement strategies to keep pace with evolving threats.
Olukoyede said the agency now possesses modern investigative tools and innovative techniques to detect, investigate and prosecute financial crimes effectively despite the changing tactics employed by fraudsters.
He reiterated the Commission’s commitment to strengthening anti-corruption advocacy nationwide, adding that the EFCC would continue intensifying efforts to eliminate corruption, economic crimes and financial offences.
The EFCC boss also identified delays within Nigeria’s criminal justice system as a significant challenge to the anti-corruption campaign. He noted that effective enforcement depends on timely investigation, prosecution and judicial determination, warning that prolonged court proceedings often weaken cases and diminish public confidence in the justice system.
He called for greater transparency, accountability and stronger enforcement mechanisms to reinforce Nigeria’s anti-corruption framework and sustain public trust.
Speaking at the event, the Dean of the Faculty of Law at Ahmadu Bello University, Prof. Salim Bashir Magashi, who represented the Vice-Chancellor, praised the initiative, saying it would help instill integrity among students and discourage involvement in fraudulent activities.
The programme also featured a debate by members of the Zero Tolerance Club on the topic, “Nigeria Urgently Needs a Specialised Anti-Corruption Court, Separate from Other Courts to Handle EFCC Cases.”
Staff Adviser of the Zero Tolerance Club, Bukar Suleiman, explained that the club was created to promote accountability within students’ union bodies. He warned students against engaging in corrupt practices, stressing that such actions could jeopardize their future, while urging them to embrace integrity, accountability and transparency.
The EFCC has continued to expand its anti-corruption education campaign through the establishment of Zero Tolerance Clubs in tertiary institutions across the country. The initiative is aimed at promoting integrity and accountability among young Nigerians while complementing the Commission’s enforcement efforts through preventive public awareness.
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