EFCC’s Efforts Strengthened Investor Confidence, helped Remove Nigeria from FATF Grey List, says Shettima

Vice-President Kashim Shettima says the Economic and Financial Crimes Commission (EFCC) played a significant role in Nigeria’s removal from the Financial Action Task Force (FATF) grey list through its anti-corruption and anti-money laundering efforts.

Shettima spoke on Tuesday during the inauguration of the EFCC’s new zonal office in Ado-Ekiti, Ekiti state.

The vice-president said the commission’s activities have strengthened confidence in the country’s economic reforms and improved Nigeria’s attractiveness to investors.

“The commission’s efforts have also supported Nigeria’s removal from the Financial Action Task Force grey list and strengthened confidence in our economic reforms, thereby improving the country’s investment outlook,” he said.

Shettima described the EFCC as a critical institution in Nigeria’s economic and national security architecture, citing its role in tackling corruption, cybercrime, financial crimes and illicit financial flows.

While noting that corruption remains a major threat to public trust, national development and economic growth, the vice-president said President Bola Tinubu’s administration considers the anti-corruption campaign a key governance priority.

“Public institutions exist because we believe in the promise of a better society. When corruption is allowed to thrive, the trust between citizens and the promises of the state begins to erode,” he said.

He commended the leadership and personnel of the commission for their commitment to the anti-corruption fight and assured the agency of continued government support.

He said the federal government will continue to invest in better working conditions, improved welfare packages, operational independence and training opportunities for anti-corruption agencies.

Shettima also highlighted the commission’s recent achievements, including the conviction of 192 cybercrime offenders in a single operation.

He added that funds recovered through the agency’s asset recovery programme have been deployed to support critical government initiatives, including the student loan scheme and other social intervention programmes.

The vice-president urged the commission to intensify efforts against money laundering and illicit financial flows, noting that criminal networks often rely on illegal financial channels to fund insecurity and other unlawful activities.

“The EFCC cannot win this fight alone. Other security and law enforcement agencies must continue to cooperate with the commission to ensure that it achieves its objectives,” he said.