EFCC calls for legislation against unexplained wealth

The Chairman of the EFCC, Ola Olukoyede, has called for legislation against unexplained wealth to combat corruption in Nigeria.

Olukoyede made this appeal during an International Law Conference organized by Christopher University, where he highlighted the success of other countries, such as the UK, Australia, and Kenya, in implementing Unexplained Wealth Orders.

Currently, the EFCC is using Section 7 of its Establishment Act to tackle this issue.

“The issue of unexplained wealth is not a local issue. There are jurisdictional legislations across the world to tackle it.

“Till date, countries of the world are faced with criminalities emanating from money laundering practices and illicit funds.

“This circumstance led to the promulgation of Unexplained Wealth Orders, UWOs that came into force in 2018.

“Several countries, such as the United Kingdom, Australia, Mauritius and African countries like Kenya, Zimbabwe, and Tobago in the Caribbean have come up with UWO.

“Nigeria is yet to come up with a national legislation on it,” he said.

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