Lagos - The Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Lamorde, has described the establishment of the agency as a major step towards the regeneration of the country.
Lamorde, whose presentation Deputy Director, Public Affairs, Osita Nwajah, read at the Induction Certificate Course of newly elected legislators, said the anti-graft agency had over the years managed to restore Nigeria's image, which had been dented by the prevalence of fraud and corruption.
"Successes so far recorded by the Commission to include robust enforcement of economic and financial crimes, anti-money laundering law, routing of notorious '419' and engendering renewed inflow of Foreign Direct Investments," he said at an event the National Institute for Legislative Studies organised.
He said before the creation of EFCC by the Olusegun Obasanjo in 2003, local citizens were harassed at international ports of entry.
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The EFCC was established partially in response to pressure from the Financial Action Task Force on Money Laundering (FATF), which named Nigeria among countries non-cooperative in the international community's efforts to fight money laundering.
EFCC's Mission Statement is "to rid Nigeria of economic and financial crimes and to effectively coordinate the domestic effort of the global fight against money laundering and terrorists financing."
Lamorde added that before the establishment of the anti-corruption agency, Nigeria was blacklisted by the FATF, isolated and dishonoured from international businesses.
Over the years, Nigeria's reputation has changed for the better with the country now rated the biggest economy in the continent.
- CAJ News