By Atoyebi Nike
The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged professionals to protect their sectors from financial crimes.
He made the call on Tuesday, July 8, 2025, at a two-day workshop in Abuja. The event focused on Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) compliance for Designated Non-Financial Businesses and Professions (DNFBPs).
The workshop, themed “Effective Implementation of AML/CFT Measures in DNFBPs in Nigeria,” was held to raise awareness.
Olukoyede, represented by Assistant Commander Musa Giwa Yusuf, said DNFBPs are the most vulnerable to money laundering and terrorism financing.
He explained that the EFCC, through the Special Control Unit Against Money Laundering (SCUML), monitors and supervises this sector.
“No economy can grow where money laundering is widespread,” he warned. “It distorts economic policies and weakens financial institutions.”
He said the workshop would help stakeholders understand their legal obligations. It also aims to build capacity to detect and stop financial crimes.
Olukoyede noted that criminals exploit gaps in regulations. He said this makes constant vigilance necessary.
He added that Nigeria is following the 40 FATF Recommendations. These are global standards for fighting money laundering and terrorism financing.
Dr. Emmanuel Uche, the Component Manager of the Rule of Law and Anti-Corruption (RoLAC) Programme, also spoke. He was represented by Patience Samuel Inyang.
She said the workshop shows strong commitment to a secure financial system. “Money laundering is not just a financial crime,” she said. “It’s a threat to national security and development.”
She called on all stakeholders to work with the EFCC and SCUML. Together, they can protect Nigeria’s economy from abuse.
The workshop included representatives from the Nigerian Bar Association (NBA), Institute of Chartered Accountants of Nigeria (ICAN), Real Estate Developers Association of Nigeria (REDA), and others.
