Shettima credits EFCC for boosting Nigeria’s investment outlook as agency opens Ekiti office

Nigeria's investment outlook has received a boost, with Vice President Kashim Shettima attributing the improvement to the diligent work of the Economic and Financial Crimes Commission (EFCC). Shettima stated on Tuesday that the EFCC's sustained efforts in combating corruption and money laundering were instrumental in Nigeria's successful removal from the Financial Action Task Force (FATF) grey list.

“

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.

Speaking at the inauguration of the EFCC's new zonal office in Ado-Ekiti, Ekiti State, Shettima emphasized the federal government's dedication to bolstering anti-corruption institutions. He pledged continued support through enhanced infrastructure, operational independence, improved staff welfare, and capacity building. The vice president highlighted the EFCC's critical role in Nigeria's economic and national security, citing its work against financial crimes, cybercrime, and illicit financial flows.

Nigeria's exit from the FATF grey list followed the implementation of reforms aimed at strengthening its anti-money laundering and counter-terrorism financing frameworks. This removal signifies an end to increased international monitoring and is expected to restore confidence in the country's financial system, potentially attracting more foreign investment and easing cross-border transactions.

“

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.

Shettima underscored corruption as a major threat to public trust, national development, and economic growth, reiterating that President Bola Tinubu's administration prioritizes the fight against graft. He commended the EFCC's leadership and personnel for their commitment and assured them of ongoing government backing to ensure the anti-corruption campaign's success.

“

We will continue to invest in better working environments, competitive welfare packages, operational independence and adequate training opportunities.