EFCC invests in digital forensics, capacity building to combat corruption- Olukoyede
EFCC invests in digital forensics, capacity building to combat corruption- Olukoyede
The Economic and Financial Crimes Commission (EFCC) is investing heavily in capacity building, digital forensics, and public education to tackle emerging economic crime challenges, including cybercrime, cryptocurrency fraud, and illicit trade financing, Olanipekun Olukoyede, the executive chairman of the EFCC, has said.
He confirmed the strategy during his address at the 2025 WorldStage Economic Summit (WES 2025), where he stated that corruption is an “economic albatross” directly undermining national productivity and the ease of doing business.
Olukoyede who was represented by Mr. Adeniran Adebayo, Chief Superintendent of the EFCC, stressed that corruption is not just a moral issue but an economic one that distorts competition, increases the cost of doing business, and ultimately causes productivity to decline.
“Every naira lost to corruption translates to fewer schools, fewer hospitals, less infrastructure, and, ultimately, fewer productive jobs,” he said.
The EFCC’s strategy aims to create a fair, transparent, and efficient economic ecosystem where legitimate enterprise can thrive, thereby boosting the ease of doing business.
Recognising that “corruption is adaptive” and evolves with new technologies, the EFCC is focusing its innovation on enforcement and preventive strategies.
This includes: Significant investment in specialised training and technology to trace economic crimes that leverage new platforms like cryptocurrency and complex cybercrime networks; continuous development of personnel to match the sophistication of new financial crimes and also targeting young entrepreneurs who represent the future of Nigeria’s economy.
The EFCC highlighted several major anti-corruption initiatives that have positively impacted Nigeria’s business climate: Anti-Corruption Compliance Framework; Collaboration with PEBEC; Asset Recovery and Restitution; Technology and Data Analytics.
