The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, on Thursday, July 10, assured Nigerians that the Commission would not abandon any corruption case, no matter how complex or high-profile it may be.

Speaking at a stakeholder meeting on Virtual Asset and Investment Fraud at the Commission’s headquarters in Abuja, to commemorate the African Union Anti-Corruption Day, Olukoyede said the EFCC is committed to pursuing every case to a logical conclusion.

He cited the arrest of hundreds of foreign nationals in Lagos for cyber-related crimes, noting that over 150 of them have already been convicted and are now serving their jail terms.

“We will ensure that we follow every case we started to a logical conclusion.

“For instance, we arrested a large number of foreigners in Lagos and have already secured 150 convictions, unprecedented in the history of this country.

“So, we want Nigerians to trust the system. We are not losing guard,” he said.

The event, themed “Understanding Virtual Asset and Investment Fraud,” brought together key stakeholders to examine the growing threat of digital fraud across Africa.

Olukoyede described virtual assets, including cryptocurrencies and digital tokens, as legitimate innovations being hijacked by fraudsters to launder illicit wealth and scam unsuspecting investors.

“Fraudulent politicians are already perfecting schemes and hiding their loot in cryptocurrencies to beat the investigative dragnets of anti-corruption agencies.

“Stolen funds and unexplained wealth are being warehoused in digital wallets, and transactions are increasingly done through this medium,” he revealed.

The EFCC boss also highlighted the dangers of unchecked investment fraud and Ponzi schemes, which he said are spreading “like wildfire” across the continent, exploiting desperate investors and the ignorance of the public.

Citing the infamous CBEX crypto investment scam, Olukoyede urged Nigerians to conduct due diligence before investing in seemingly lucrative ventures.

“No investment scam can succeed without the negligence of investors,” he warned.

He called for stronger collaboration between the EFCC, stakeholders, and the public to combat emerging forms of financial crimes, emphasising that preventive measures, education, and awareness are key to tackling fraud.

“We are ahead in every material sense, and there are enormous proofs of operational successes,” Olukoyede said. (Daily Sun)