The Economic and Financial Crimes Commission (EFCC) on Wednesday vowed to cut off funds to terrorists by monitoring banking transactions.
The EFCC Chairman, Ola Olukoyede, gave the assurance during the 2024 Annual Civil-Military Conference organized by Civil-Military Cooperation (CIMICO) at the National Defence College, Abuja.
He said the move would curb insecurity in the country.
Olukoyede, who was represented at the forum by EFCC’s Director of Public Affairs, Wilson Uwujaren, said the commission would work closely with the armed forces to disrupt the terrorists’ financing network.
He noted that corruption breeds poverty which drives jobless individuals to embrace crimes as ways out of the hardship.
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Olukoyede said: “Corruption is the key issue in terms of the promotion of insecurity in this nation. When people talk about insecurity and national development, one factor that is important to note is the implication of corruption on national security management and development.
“It is time for us to collectively fight corruption which has become a major challenge to our nation’s development. The loss of resources to corruption denies our nation the resources we should have used to provide infrastructure and digital services for our people, deepening the poverty we experience in this country.
“Corruption breeds poverty, which in turn makes the jobless embrace recruitment into banditry, kidnapping, and terrorism. We will continue to monitor the flow of funds, especially in the banking sector, to ensure that illicit money doesn’t get into the hands of bandits, kidnappers, and terrorists.”
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