The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has lauded the Proceeds of Crime Act (POCA) 2022, describing it as a transformative tool that has significantly bolstered the agency’s capacity to track and manage illicit assets.
Speaking on Wednesday, March 4, 2026, during the opening of a workshop for officers at the EFCC Academy in Karu, Abuja, the Chairman emphasised that asset recovery sits at the very heart of Nigeria’s anti-corruption crusade.
Represented by the Acting Commandant of the EFCC Academy, Assistant Commander of EFCC (ACE1) Joseph Ogwiji, Olukoyede highlighted the legislation’s impact on the commission’s operational efficiency.
“The Proceeds of Crime Act 2022 is a game-changer that provides a comprehensive legal framework for the identification, tracing, seizure, forfeiture, management, and disposal of proceeds of crime,” Olukoyede stated.
He further noted that the Act has catalyzed deeper institutional improvements. “It has led to the strengthening of financial intelligence and investigation, enhanced prosecutorial effectiveness, transparency and accountability in asset management, and the promotion of public trust in the anti-corruption framework,” he added.
Securitynewsalert.com observed that the workshop, which brought together officers from the Department of Proceeds of Crime Management and other units, focused on the necessity of evolving with global professional standards.
Commander of EFCC (CE) G.K. Latona, Director of the Department of Proceeds of Crime Management, stressed that the era of managing recovered assets through general oversight is over.
“The management, preservation, and disposal of assets have now become a specialised issue and no longer a thing for the generalists,” Latona remarked. “It has become professionalised worldwide that you now have associations like ARINWA (Asset Recovery Inter-Agency Network of West Africa). So, there is a need for us here to move along with this trend.”
The event, co-organised with the African Centre for Governance, Asset Recovery and Sustainable Development, was designed to address specific operational gaps. Obialunanma Nnaobi-Ayodele, Deputy Director of the Centre, explained that the collaboration was rooted in a recent Training Needs Assessment aimed at curbing money laundering and terrorist financing.
“Our objectives for this training are strengthening legal competencies, enhancing operational capability, and fostering institutional collaboration with relevant agencies,” Nnaobi-Ayodele said.
The workshop concluded with an interactive session where officers from various EFCC commands shared regional experiences, highlighted common challenges, and proposed strategic recommendations for the future of asset management in the country. #securitynewsalert.com
