The House of Representatives on Tuesday expressed worry over the surge in sophisticated financial crimes and the need to quickly address the menace.
At the hearing of the defence of the 2024 appropriation bill by the Economic and Financial Crimes Commission (EFCC), Ginger Obinna, the chairman of the House Committee on Financial Crimes, said the trend threatened Nigeria’s progress and stability.
“In recent years, our nation has witnessed a surge in sophisticated financial crimes that demand our immediate attention and robust defence mechanisms,” said Mr Obinna.
He said that from money laundering to cybercrime, the challenges remained multifaceted and ever-evolving, adding that it was the committee’s duty to stay ahead of the threats.
Mr Obinna said it was imperative to adapt its strategies and adequately equip the relevant agencies to counteract the forces that sought to undermine the country’s economic well-being.
“The budget estimate before us today is not just a…