EFCC vows to cut off sources of terrorist funding

The Economic and Financial Crimes Commission (EFCC) on Wednesday vowed to cut off the flow of funds to terrorists by monitoring banking transactions.

EFCC Chairman, Ola Olukoyede, gave the assurance during the 2024 Annual Civil-Military Conference organised by the Civil-Military Cooperation (CIMICO) at the National Defence College, Abuja.

He said the move would reduce insecurity in the country.

Olukoyede, who was represented at the forum by the EFCC Director of Public Affairs, Wilson Uwujaren, said the commission would work closely with the armed forces to disrupt terrorist financing networks.

He noted that corruption breeds poverty which drives unemployed people to turn to crime as a way out of hardship.

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Olukoyede said: “Corruption is a major issue in terms of increasing insecurity in the country. When people talk about insecurity and national development, one of the important factors to consider is the implications of corruption on national security management and development.

“It is time for us to fight corruption together, which has become a major challenge for the development of our nation. The loss of resources due to corruption has caused our nation to lose resources that could have been used to provide infrastructure and digital services for the people, thus exacerbating the poverty we experience in this country.

“Corruption breeds poverty, which in turn leads the unemployed to banditry, kidnapping and terrorism. We will continue to monitor the flow of funds, especially in the banking sector, to ensure that illicit money does not fall into the hands of bandits, kidnappers and terrorists.”

EFCC vows to cut off terrorist funding sources first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.