TACKLING FINANCIAL CRIMES WILL TRANSFORM NIGERIA - UNILORIN VC

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By: Balogun Ibrahim

The Vice Chancellor of the University of Ilorin, Wahab Egbewole, has said the ongoing anti-corruption efforts of the Economic and Financial Crimes Commission (EFCC) are crucial to Nigeria’s progress.

He noted that the country would witness significant improvement if economic and financial crimes were effectively tackled.

Egbewole made this known on Friday in Abuja during a courtesy visit to the EFCC headquarters, where he led a delegation of the university’s management to explore areas of collaboration with the Commission.

He praised the EFCC’s performance, stating that addressing financial crimes would greatly enhance Nigeria’s development.

The vice chancellor also commended the agency’s recovery of over ₦500 billion from proceeds of crime, describing it as evidence of its effectiveness, particularly its focus on crime prevention.

He further applauded the use of recovered funds for developmental purposes, noting that such efforts are making a positive impact.

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Egbewole explained that the university is seeking partnership with the EFCC due to its key role in tackling corruption, especially in Nigeria’s electoral process.

He added that collaboration between academic institutions and anti-corruption bodies would help promote ethical standards and strengthen institutional integrity across the country.

He also lauded EFCC Chairman Ola Olukoyede for his leadership role in the Network of Anti-Corruption Institutions in West Africa, describing it as a sign of his credibility.

In response, Olukoyede thanked the delegation and reiterated the Commission’s commitment to prevention as a core strategy in fighting corruption.

He explained that his administration prioritises proactive measures to stop corruption before it occurs, rather than only reacting after funds have been stolen.

The EFCC chairman also revealed that recovered assets have been used to support the education sector, including serving as seed funding for the Federal Government’s Nigerian Education Loan Fund.

However, he expressed concern over the increasing involvement of young Nigerians, particularly students, in cybercrime, noting that a large proportion of offenders are youths.

He assured the university of the EFCC’s willingness to collaborate in promoting integrity within the education system and across the region.