The Chairman of Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, says the federal government has spent N6tn on the terrorism war since 2008.
This was contained in a statement released by the agency’s spokesperson, Wilson Uwujaren.
According to the statement, Bawa made the revelation during the presentation of a paper titled, ‘Combating Crime, Corruption and Implication for Development and Security,’ at the 38th Cambridge International Symposium on Economic Crime, organised by the Centre for International Documentation on Organised and Economic Crime, Jesus College, University of Cambridge, United Kingdom.
Bawa, who was represented by his Deputy Chief of Staff, Sambo Mayana, also said since March when he took office till date, the anti-graft agency has recovered over N6bn from financial and economic saboteurs.
Citing a report by the Organisation for Economic Cooperation and Development, the EFCC boss noted that resources that could support a country’s development are lost through criminal acts such as corruption, tax evasion, money laundering, and others.
“The spoiler effects on countries’ development processes are diverse, and particularly severe for fragile states: economic crime, including illicit financial flows, diverts much needed resources needed to rebuild countries’ public services, from security and justice to basic social services such as health and education,” Bawa said.