From the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulkarim Chukkol, came a revelation that the commission’s Lagos Zonal Command is currently handling investment, Business Email compromise (BEC), and forex scam cases worth over N328 billion.
Chukkol described investment, BEC and forex scams, as well as land and property fraud, as some of the most prevalent financial and economic crimes recorded by the Lagos Zonal Command.
EFCC Spokesperson Wilson Uwujaren, in a statement on Friday in Abuja, quoted Chukkol as having
The information was revealed during a one-day workshop on Economic and Financial crime Reporting for Journalists on Thursday, July 13, 2023, at the Commission’s Lagos Zonal Command.
According to the EFCC boss, the fraudulent activities involved N317,908,343,469 (three hundred and seventeen billion, nine hundred and eight million, three hundred and forty-three thousand, and four hundred and sixty-nine naira).
N11, 686, 499, 431.79 (eleven billion, six hundred and eighty-six million, four hundred and ninety-nine thousand, four hundred and thirty-one naira, seventy-nine Kobo) and $3,205, 648 (three million, two hundred and five thousand, six hundred and forty-eight dollars).
He said the Lagos Command had received 512 (five hundred and twelve) and 876 (eight hundred and seventy-six) petitions relating to investment scams and forex frauds, respectively.
Chukkol, who spoke through the Commander, Lagos Zonal Command, Michael Wetkas, said all manner of economic and financial crimes thrived in the state. This was due to its status as the economic nerve center of the country.
According to him: “Forex scams, Business Email compromises, investment scams, and land and property fraud, among others, are some of the financial and economic crimes prevalent within the Lagos environment.”
While expressing concern over the alarming rate at which unsuspecting people “fall prey to the wiles of scammers", he stated that the Commission’s enforcement activities were directed at the perpetrators of these crimes.
EFCC boss, Abdulkarim Chukkol addressing participants during one-day workshop on Economic and Financial Crimes Reporting for Journalists
“In the last couple of months, we have intensified public sensitization in line with our belief that some of these crimes could be prevented if people had the right information.
“This is where your professionalism and collaboration are needed. We need the media to help in educating citizens to be circumspect in embracing investment opportunities, especially where the return on investment seems too high to be true," he added.
Chukkol, who lauded the media for reporting the Commission's activities since inception over 20 years ago, stated that the decision of the Commission to sponsor the workshop underscored the importance the management attaches to the role of the media in the fight against economic and financial crimes, including corruption.
“All over the world, the media's watchdog role promotes transparent and accountable leadership. “In the particular instance of the EFCC, the media has proven to be a critical stakeholder and ally in the difficult task of sanitizing our environment. “This partnership is functional and rewarding. We can only hope that the synergy gets stronger.
“I admit that the task of keeping our work under daily focus and scrutiny is both engaging and arduous. It is engaging because the Commission has been profoundly impactful in combating the menace of corrupt practices in our midst. This is demonstrated by its impressive records of convictions, asset forfeitures, and other tangible proofs of accomplishments over the years.
“The reporting has also been arduous because our works is not static and you have been keeping pace with our speed and energy. “
The workshop featured presentations by ACE 1 Larry Peters Aso, who spoke on “Understanding the New Money Laundering Laws In Relation To Activities of Designated Non-Financial Businesses and Professions," ACE 1 Dele Oyewale, who presented a paper titled “Investigative Journalism and Nigeria’s Fight Against Money Laundering,” and CSE Sanni Adenike Morinsola, who also presented a paper on “New Trends In Cybercrime: How Not To Become A Victim.” Participants at the workshop were drawn from print, broadcast, and online media organizations.
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