Admin I Saturday, Sept 20, 2025
LAGOS, Nigeria – The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has outlined what his agency has done to make Nigeria attractive to international investors.
He made this disclosure on Friday, September 19, 2025 in Washington DC, United States of America at the EBII Group African Leaders & Partners Forum.
According to him, lowering investment risks in Africa requires broad-based and radical reforms that would make the continent a beautiful bride to investors around the world.
“De-risking Africa requires us to pay attention to reforms to improve the ease of doing business, respect for the rule of law and human capital development. Success in this regard, requires strong institutions in view of the challenges, which already exist in the agricultural, renewable energy and solid minerals sectors”, he said.
The EFCC’s boss, who joined other world leaders at the Forum to discuss de-risking investment in Africa’s strategic sectors: agriculture, energy transition and critical minerals, pointed out that Africa had huge potentials and deep riches in minerals and talents of its young and tech savvy population but needs fully-integrated reforms to attract more foreign direct investments.
He particularly showcased the rising successes of the EFCC in tackling various economic and financial crimes in Nigeria, owing to effective reforms and operational dynamics. According to him, the EFCC, in its 22 years of existence has maintained a trajectory of vigorous investigations, prosecutions and assets tracing, recovery and return . The consistency of the Commission in plying its mandate, he explained, has made it possible for it to deepen and widen the investment fortunes of Nigeria.
“There can be no greater incentive to investors than assurance of due process and rule of law. From a background of zero conviction for financial and economic crimes, we have achieved over 13,000 convictions in 22 years of operation. In 2024, the Commission secured 4111 convictions. This rekindles confidence that investors who for whatever reason felt cheated can seek redress and get justice’’, he said. Besides, he stressed that the Commission also offers advisory service, on demand, to foreign investors seeking information to navigate potential risks in Nigeria’s investment landscape.
“At intervals, EFCC issues alerts, to put the investing public on notice regarding trends in the investing environment that could expose them to unmitigated risks. An example was the notice on 58 Ponzi Schemes masquerading as investment schemes, which was published in March, 2025”
Referencing his reforms and initiatives since he assumed office about two years ago, the anti-graft czar affirmed that the corruption prevention aspect of the EFCC’s mandate was enhanced in 2024 by the activities of the Department of Fraud Risk Assessment and Control. Created in 2023, and mandated to deploy risk-based approaches in preventing corruption in Ministries, Departments and Agencies, MDAs, the department recorded major milestones in tracking the disbursement and utilization of public funds. It evaluated the over $50m contract under the Pi-CNG project ensuring Ninety-five percent delivery of buses and conversion kits.
Other milestones of the Commission he placed before the global audience include the arrest of 792 crypto currency and internet fraudsters in Lagos in one single operation and in one day, the unmasking and forfeiture of 753 duplexes and other apartments in Abuja, the involvement of the EFCC in Nigeria’s efforts to enhance compliance with global standards on anti-money laundering and counter-terrorist financing (AML/CFTto exit the FATF’s grey list, the investigation and prosecution of sophisticated digital assets and investment fraud including
