The significance of addressing the growing threat of complex financial crimes has been emphasised by the House of Representatives, which has expressed worries about their increasing prevalence.
During a recent session centred on the 2024 appropriation bill’s defense by the Economic and Financial Crimes Commission (EFCC), Ginger Obinna, the chairperson of the House Committee on Financial Crimes, underscored the potential risks these crimes pose to the nation’s development and stability.
“Nigeria has been facing a wave of intricate financial crimes in the past few years, necessitating our immediate intervention and the establishment of strong defensive measures,” Mr. Obinna remarked.
Buhari Intends To Present 2023 Budget Bill In September
Mr. Obinna recognised that these issues, which range from cybercrime to money laundering, are varied and dynamic in nature. He emphasised that the committee must continue to be watchful and proactive in thwarting such threats. He emphasised that in order to counter organisations that are endangering Nigeria’s economic stability, authorities must be properly resourced and strategically adjusted.
“The proposed budget is more than mere figures; it represents our dedication to fostering a trustworthy financial ecosystem pivotal to our economy,” the legislator stated. He assured that the committee is committed to allocating the necessary resources for the EFCC to execute its crucial tasks effectively.
The EFCC chairman, Ola Olukoyede, spoke about the challenges with the capital projects for 2023 and mentioned that some of the ongoing projects are holdovers from the budget for the year prior. He talked about how difficult it might be to operate out of rented space because some landlords are hesitant to part with their homes.
Buhari Intends To Present 2023 Budget Bill In September
Speaking about the EFCC’s budget execution plan, Mr. Olukoyede stated that the agency would welcome oversight and work closely with the committee. Even while he admitted that financial limitations had slowed down budget execution, he was certain that, given the opportunity, the 2024 budget would be properly implemented. #Representative House
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