Corruption undermining Africa’s development, says EFCC boss

Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede has said Africa needs to put up a collective front to tackle corruption which has undermined the development of the region.

The EFCC boss who made this observation at the opening of the 6th Annual General Assembly of at the 6th Annual General Assembly of the National Anti-Corruption Institutions in West Africa (NACIWA) at the the Economic Community of West African States (ECOWAS) Secretariat in Abuja.

Speaking on the theme of the Assembly: “Implementing the ECOWAS Protocol against Corruption towards Strengthening Institutions for Regional Unity,” Olukoyede noted that the region is at a critical juncture in her collective fight against corruption.

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“There is no gainsaying that corruption continues to undermine our economies, security, erode public trust, and hinder the sustainable development of our nations. This requires some introspection and strategizing to forge ahead,” he said.

According to him, the implementation of the ECOWAS Protocol Against Corruption is not a mere technical exercise but rather a moral imperative that demands utmost dedication and innovative thinking.

He maintained that the gathering underscores the importance of collaborative and coordinated efforts in fostering transparency, accountability, and good governance across West Africa.

“Through our collective expertise, shared experiences, and unwavering commitment, we can forge a path towards a more transparent and prosperous West Africa,” he said.

Olukoyede urged the delegates to focus on the need to strengthen the regions legal and institutional frameworks as well as enhancing cross-border cooperation in investigations and asset recovery.

He charged them on the need to promote public awareness, ethical standards and other corruption prevention measures, stressing the need to also leverage technology in the fight against corruption and develope capacity-building programs for anti-corruption practitioners.

“As we proceed with our assembly, let us be mindful of the trust placed in us by our citizens. Every policy we recommend, every strategy we develop, and every partnership we forge must be geared towards tangible improvements in the lives of the people we serve.”

He expressed concern over the absence of three West African countries, Niger, Mali and Burkina Faso due to current political situation in ECOWAS.

The anti-graft czar who noted that the network requires full collective might to overcome the challenge of corruption in the sub-region, expressed optimism that the issues will be resolved as soon as possible.