EFCC’s strategic challenge, by Magu - 9IJA TALKS

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EFCC’s strategic challenge, by Magu

The acting Chairman of the Economic and Financial Crimes Commission (EFCC) Mr  Ibrahim Magu has said that the biggest challenge being faced by the commission in the fight against corruption was the way corruption was fighting back.
In an interactive session in London, after delivering a lecture on taming corruption in Africa, Mr Magu lamented that corrupt elements were ferocious in their fight-back, while the judiciary, which is vital in the success of the anti-corruption war, also posed serious challenge to the commission’s efforts in the past.

Echoing President Muhammadu Buhari’s mantra of “kill corruption before corruption kills us”, the Chairman urged Nigerians and Africans in general to “confront and defeat corruption through collective action”, stressing: “as a man-made problem, corruption can be solved with man-made solutions.”
“The negative social, economic and political consequences of corruption on Africa are crippling and unbearable. If this trend is not arrested and reversed as a matter of urgency, our survival as a continent is in serious jeopardy,” he said.

“Corruption is one of the factors that contributed to the current predicament of the African continent”, he said, adding that “corrupt acts of unpatriotic African looters have grounded many private and public enterprises, pushing some countries to the verge of financial ruin. Africa is estimated to be losing more than $50 billion annually through Illicit Financial Flows (IFF), while between 1970 and 1996, capital flight from sub-Saharan Africa through corruption totalled $187 billion.”
He urged African leaders to “adopt a policy of Naming and Shaming all those who engage in corrupt practices while Encouraging and Honouring those who do not. In this regard Whistle Blowers should be celebrated, honoured and encouraged to become full time Corruption Hunters.”
He stated that his commission’s vigorous fight against the scourge had yielded positive results such as improved investment climate in the country, security of investments, improved Ease of Doing Business in Nigeria, among others.
Mr Magu pledged to continue the fight against corruption “with all the necessary vigour and determination. We will not let the people of Africa down in the discharge of our responsibilities. We will not rest or waiver until this crime is caged.”

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