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EFCC chair urges radical reforms to reduce Africa’s investment risks.
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Olukoyede highlights 13,000 convictions and global anti-graft collaborations.
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Commission strengthens corruption prevention with new fraud risk strategies.
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has identified sweeping reforms as the key to reducing investment risks across Africa.
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EKO HOT BLOG reports that speaking on Friday, September 19, 2025, at the EBII Group African Leaders & Partners Forum in Washington DC, United States, Olukoyede said Africa must overhaul its systems to become a more attractive destination for global investors.
“De-risking Africa requires us to pay attention to reforms to improve the ease of doing business, respect for the rule of law and human capital development,” he said. “Strong institutions are essential, particularly given the challenges in agriculture, renewable energy and solid minerals.”
The EFCC boss joined global leaders at the forum to deliberate on Africa’s strategic sectors, including agriculture, energy transition and critical minerals. He noted that while the continent is endowed with vast natural resources and a young, tech-driven population, only bold and integrated reforms can unlock its full potential.
Highlighting the EFCC’s achievements, Olukoyede pointed to 22 years of consistent work in combating financial crimes. “From zero convictions, we now have over 13,000. In 2024 alone, we secured 4,111 convictions. This shows investors that the rule of law works and justice can be achieved,” he stated.
He also emphasized the Commission’s preventive measures, such as the Fraud Risk Assessment and Control Department, created in 2023, which has tracked major government contracts and ensured accountability. He cited successes like monitoring the Pi-CNG project, where 95 percent of buses and kits were delivered, and major crackdowns on internet fraud syndicates and illicit crypto operations.
Olukoyede further disclosed EFCC’s collaboration with global agencies including the FBI, National Crime Agency and Canadian Royal Mounted Police, reinforcing Nigeria’s commitment to global anti-money laundering and counter-terrorism financing standards.
Calling for a united front, he urged African leaders to embrace reform-driven governance, stressing that “there can be no greater incentive to investors than assurance of due process and the rule of law.”
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