In a decisive move to cripple the financial lifelines of bandits and terrorists, the Economic and Financial Crimes Commission (EFCC) has pledged to intensify its grip on banking systems, monitoring transactions, and cutting off funds flowing to criminal networks. The Vanguard Newspaper via it’s X handle announced that the anti-corruption agency has vowed to dismantle terrorist financing structures as part of its strategy to combat insecurity and organized crime in Nigeria.
Speaking at the 2024 Annual Civil-Military Conference, held at the prestigious National Defence College in Abuja, EFCC Chairman Ola Olukoyede, represented by Commander Wilson Uwujaren, Director of Public Affairs Directorate, reiterated the commission’s unwavering commitment to disrupting the financial operations of bandits, insurgents, and their enablers.
“Without access to funding, the activities of these criminal elements can be significantly weakened,” Uwujaren stated, emphasizing that the EFCC would deploy advanced financial intelligence to track suspicious transactions and prevent funds from reaching bandits. According to the EFCC, illicit financial flows have become a key enabler of terrorism, and by cutting off these funds, the agency aims to strike at the heart of banditry and terrorism.
The EFCC is poised to collaborate closely with commercial banks, financial institutions, and other law enforcement agencies to identify and block transactions linked to criminal activities. This heightened scrutiny on financial networks is part of a broader effort by the Nigerian government to address the root causes of insecurity, ensuring that criminals have fewer resources to perpetuate violence across the country.
As bandits increasingly rely on ransom payments, money laundering, and illicit trade to fund their operations, the EFCC’s bold stance marks a significant escalation in the war on terrorism financing. The commission’s actions will send a clear message to criminal elements: their days of easy access to funds are numbered.
With the full weight of financial surveillance behind it, the EFCC is determined to ensure that no criminal organization can thrive in Nigeria, signaling a new era of accountability in the battle against banditry and terrorism.
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