The Economic and Financial Crimes Commission (EFCC) has emphasized the significant threat posed by illegal mining and criminal activities to the local and national economies, resulting in the non-payment of royalties, taxes, and other essential dues. Mr. Abdulkarim Chukkol, the Acting Executive Chairman of the EFCC, highlighted this concern during a day-long Workshop organized by the commission for journalists in Kwara State. Representing the chairman, Mr. Michael Nzekwe, the Zonal Head, delivered the message at the Ilorin Zonal Command on Thursday.
The workshop, titled “Effective Reporting of Economic and Financial Crimes,” aimed to enhance journalists’ understanding of these issues. It shed light on the pervasive nature of cybercrime, particularly among undergraduate and recently graduated students from tertiary institutions. The chairman stressed the importance of combating cybercrime and its impact on society.
With these insights, the EFCC seeks to raise awareness about the detrimental effects of illegal mining, financial crimes, and cybercrime on the economy. By addressing these challenges, the commission aims to ensure the proper collection of royalties, taxes, and other dues while promoting a secure and prosperous environment for all.
“The commission has been active in tackling their criminalities and will continue to ensure that existing laws against illegal miners are enforced.
“Our work is engaging because the commission has been combating the menace of corrupt practices, going by its impressive records of convictions, asset forfeitures, and other tangible proofs of accomplishments over the years.
“The reporting has also been arduous because our work is not static and the media have always kept pace with our speed and energy.
“It is in recognition of these tasks that the commission initiated a workshop on economic and financial crime reporting for journalists.
“The workshop is one of the modest efforts of the commission to build synergy and foster a more engaging relationship with the media,” he said.
The head of the EFCC emphasized the importance of proactive action against corrupt practices in economic and financial crimes, urging Nigerians not to wait until they experience personal or corporate losses. He highlighted that such corrupt practices pose a significant threat to the progress of individuals and businesses.
“It is not only by being victims of these crimes that we suffer losses; we also suffer limitations when our neighbours, colleagues, institutions, and nation fall prey to them.
“I charge the nation’s journalists with patriotism, as you owe our nation and the entire world an obligation to expose every shadiness and criminal act through reporting.
“Journalism is the best gateway to whistleblowing, and I charge the media to deploy more time, energy, and commitment to exposing all fraudulent activities in our midst,” he said.
During a presentation on cybercrime titled “New Trends in Cybercrime: How Not to Become a Victim,” Alex Ocheme from the EFCC revealed that cybercrime has resulted in the loss of over $8 trillion of hard-earned finances worldwide. However, Ocheme highlighted that one of the challenges in combating cross-border corruption is the legal barriers that impede investigations.
He noted that not all African countries have enacted legislation specifically targeting cybercrime. Consequently, without the ability to enforce such laws in those countries, it becomes difficult to hold corruption offenders accountable, which means that “the money stolen is gone”.
“Each nation is entitled to its laws. They are not necessarily there to work with you.
“Some countries are fast to assist you in the war against cybercrime, while some are not.
“For instance, if the UAE is not ready to collaborate with a country on a cybercrime investigation, it means the money lost is gone,” he said.
Participants at the workshop included journalists from the print media, television, and radio stations, as well as online publishers in Ilorin. (NAN)
