Acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu has described corruption as the biggest threat to businesses and the Nigerian economy. Magu who was represented by Port Harcourt Zonal Head of the Commission, Abdulrasheed Bawa at this year’s African Anti-corruption Day, noted that fraudulent practices compromise global best practices in business and that when such conducts persist, well- meaning and honest businesses are affected. “When the business environment is compromised by fraudulent elements in our midst, even people plying their trades in honest ways would be affected. Genuine investors would be wary of putting their money in the economy because corruption increases the risk of doing business. This is why we are saying that we should shun corruption in all its manifestations," Magu said. Magu applauded the increasing successes of the EFCC in recoveries and convictions, saying that more than N800 billion have been recovered by the Commission in the last four years, while about 590 convictions have been secured already in 2019.
Source: EFCC News