Africa is losing a staggering $88.6 billion every year to corruption and illicit financial flows, an amount representing 3.7% of the continent’s GDP, according to ECOWAS. This was revealed at a five-day Regional Certification Training on Financial Investigation held in Suleja, Niger State.
Abdel-Fatau Musah, ECOWAS Commissioner for Political Affairs, Peace and Security, emphasized the need for stronger regional collaboration to combat corruption. He praised EFCC Chairman Ola Olukoyede’s leadership in boosting the influence of the Network of National Anti-Corruption Institutions in West Africa (NACIWA).
Olukoyede, represented by EFCC Director Femi Gbarufu, stressed that corruption in West Africa is complex, cross-border, and technology-driven, requiring joint intelligence sharing and harmonized efforts across nations.
The event, organized by NACIWA, EFCC, and the ECOWAS Commission, focuses on strengthening the capacity of anti-corruption agencies. EFCC Academy Acting Commandant, Joseph Ogwiji, highlighted the academy’s role in training officers to dismantle sophisticated illicit financial networks
