Abdulrasheed Bawa, chairman of the EFCC, says the federal
government has spent N6 trillion on the war against insurgency since 2008, and
lost N5.4 trillion to tax evasion by multi-national corporations operating in
the country between 2011 and 2021.
According to a statement by Wilson Uwujaren, EFCC spokesman,
Bawa said this on Friday while presenting a paper entitled, ‘combating of
crime, corruption and implication for development and security’, at the 38th
Cambridge international symposium on economic crime, organised by the Centre
for International Documentation on Organised and Economic Crime (CIDOEC), Jesus
College, University of Cambridge, United Kingdom.
The spokesman said Bawa was represented by Sambo Mayana, his
deputy chief of staff.
Citing a report by the organisation for economic cooperation
and development, Bawa said resources that could support a country’s development
are lost through criminal acts like corruption, tax evasion, money laundering,
and others.
“The spoiler effects on countries’ development processes are
diverse, and particularly severe for fragile states: economic crime, including
illicit financial flows, diverts much needed resources needed to rebuild
countries’ public services, from security and justice to basic social services
such as health and education,” he said.
Bawa said records show that as of August 2021, the EFCC has
over 3,408 convictions.
“From the time I took over as the Executive Chairman, on the
5th of March 2021, we have recovered over N6 billion, over $161 million, over
£13,000, €1,730, 200 Canadian dollars, CFA 373,000, ¥8,430 and 30 Real Estates.
We have arrested over 1500 internet fraudsters, many of whom are being
prosecuted,” he added.
The EFCC chairman said the absence of substantial
improvement in the living condition of the people in Africa and the rest of the
developing countries, despite their natural resource endowment, can be blamed
on pervasive economic crimes including embezzlement by government officials.
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