EFCC, Fraud Examiners Partner on Anti-graft War

The Executive Chairman, Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa, has said his agency is willing and ready to partner with the Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria (CIFCFEN)  and other organisations in a concerted effort to win the war against corruption, financial crimes, fraud and illicit financial flows.

He stated this while delivering a goodwill message at CIFCFEN’s combined graduation ceremony of 5th Proficiency Training, 3rd Direct Membership Training and 1st Fraud Certified Training at the EFFC Academy, Karu, Abuja. The Insitute graduated 93 trainees at the event.

Bawa, who was represented by the Commandant, EFCC Academy, Ayo Peter Olowonihi noted that the investigation of economic and financial crimes and other acts of corruption, demand collaborative efforts and the EFCC would always partner with agencies involved in fighting such crimes.

“Investigating fraud, economic and financial crimes is not just surface level activity, you have got to have the inner eye. That is why the EFCC will continue to partner with agencies, government and private sectors like CIFCFEN. We learnt that very soon you will be establishing the first Nigerian College of Forensics and Fraud Examiners of Nigeria. EFCC is ready to partner with you on this”.

On his part, the President/Chairman of Council, CIFCFEN, Dr. Iliyasu Gashinbahi, reeled out troubling statistics to underscore the urgent need to tackle corruption head on.

“The world is losing Nine  trillion US dollars at 10 per cent of global GDP of 170 IMF countries to illicit financial flows, drugs and crimes and massive corruption with Nigeria particularly losing billions to corrupt practices, he said. The GDP of Africa was pegged at 2.6 trillion US dollars as at 2021 while global fraud is estimated to be 3.6 times the entire GDP of Africa and 3000 times the United Nations budget of 3.12 billion US dollars for 2022”.

Explaining that the Institute is poised to stop the trend, a board member, Fatima Muhammadu Buhari, said the CIFCFEN is deploying the latest tools in forensic accounting and fraud examination to dig out evidence that will ultimately nail perpetrators of fraud and corruption in the country.

 “The Institute is going a step ahead of the criminals to stop them in their tracks by blocking every move they make to evade conviction by providing hard core evidence of their misdeeds that will put them away,” she declared. “We are talking scientific investigation here.  We are talking fraud examination here. With this institute, I can assure you that the days of financial crimes and other corrupt practices are numbered.”

Highlight of the event was the presentation of certificates to the 93 graduands in the three categories.

Speaking on the significance of the training, one of the newly admitted fellows and Director of Finance and Accounts, National Gallery of Art, Dr. Henry Achugbu said the training exposed him to new trends in tackling issues of fraud and corruption. “It is a whole new world. I expect more people not just accountants to attend the training.”