The acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, has said that the anti-corruption agency is beaming its searchlight beyond the borders of Nigeria in a bid to track down corrupt politicians who may have diverted looted public funds to neighboring countries.
He further said that the agency has unearthed the collusion of bank officials and those of non-designated financial institutions, with corrupt politicians in the country, which has brought about an increase in the instances of illicit financial flows into and out of Nigeria.
Magu said the commission’s team recently visited Ghana where they made a staggering and mind-boggling findings about the level of investments being made from illicit funds from Nigeria.
In an address delivered by the acting EFCC chairman at the 127th delegates’ conference of the Nigeria Labour Congress (NLC) holding in Abuja, Magu said the EFCC has signed a Memorandum of Understanding (MoU) with the Economic and Organised Crime Office in Ghana, the Ghana Financial Intelligence Centre and the Ghana Police (SGMCG) to ensure that it keeps track of illicit inflow and outflow of suspicious funds.
Magu said a similar agreement reached with the United Arab Emirates (UAE) is already yielding fruits as the agency has been able to trace several assets illegally kept there.
Ahead of the forthcoming general election, the EFCC boss said the commission is monitoring the movement of cash by political parties and politicians to ensure that the provisions of the Electoral Act, 2010 are strictly adhered to.