How FG Spent N6trn On Terrorism War; Lost N5.4trn To Tax Evasion –EFCC Boss

Posted by Niyi Adeyi African News, Featured, Latest Headlines, News, News Across Nigeria, News From The State Sunday, September 12th, 2021

(AFRICAN EXAMINER) – The chairman of the EFCC, Abdulrasheed Bawa, has stated the federal government has spent N6 trillion on the war against insurgency since 2008, and lost N5.4 trillion to tax evasion by multi-national corporations operating in the country between 2011 and 2021.

This was disclosed in a statement According to a statement by Wilson Uwujaren, EFCC spokesman, Bawa said this on Friday while presenting a paper entitled, ‘combating of crime, corruption and implication for development and security’, at the 38th Cambridge international symposium on economic crime, organised by the Centre for International Documentation on Organised and Economic Crime (CIDOEC), Jesus College, University of Cambridge, United Kingdom.

Uwujaren stated that Bawa was represented by Sambo Mayana, his deputy chief of staff.

Citing a report by the organisation for economic cooperation and development, Bawa stated that the resources that could support a country’s development are lost through criminal acts like corruption, tax evasion, money laundering, and others.

“The spoiler effects on countries’ development processes are diverse, and particularly severe for fragile states: economic crime, including illicit financial flows, diverts much needed resources needed to rebuild countries’ public services, from security and justice to basic social services such as health and education,” he said.

Bawa also disclosed that records show that as of August 2021, the EFCC has over 3,408 convictions.

He said: “From the time I took over as the Executive Chairman, on the 5th of March 2021, we have recovered over N6 billion, over $161 million, over £13,000, €1,730, 200 Canadian dollars, CFA 373,000, ¥8,430 and 30 Real Estates. We have arrested over 1500 internet fraudsters, many of whom are being prosecuted.”