In a video posted on Symfoni TV from 7:42, the chairman of Economic Financial Crimes Commission, Ola Olukoyede discussed the company’s plans to focus on preventive measures to reduce the need for recovering stolen funds in the future.
He acknowledged that recovering stolen funds indicates that a significant amount has already been lost to theft, emphasizing the importance of implementing measures to prevent losses in the first place.
With the company having recovered 248 billion naira and over $800 million within a year, Olukoyede highlighted the need to address the underlying issues that enable such substantial amounts to be stolen from the system.
According to Ola Olukoyede, “For me, it’s more of a challenge. Next year, I don’t want to recover as much. You know why? Because we are going to deploy preventive measures. For you to recover 10 naira, perhaps 30 naira has been stolen. So, within a year, if you recover about 248 billion naira and several millions of dollars, over $800 million, imagine how much has been stolen in our system.”