Blockchain Pioneers a New Era in Combatting Illicit Fund Transfers, States Nigeria’s EFCC Chief

Blockchain Pioneers a New Era in Combatting Illicit Fund Transfers, States Nigeria’s EFCC Chief



Blockchain and AI: Vanguard Against Financial Crime



Blockchain technology and artificial intelligence (AI) can effectively combat illicit activities, asserts Olanipekun Olukoyede, Chairman of Nigeria’s Economic and Financial Crimes Commission (EFCC). Speaking at the Pan-African Conference on Illicit Financial Flows and Tax Evasion in Tunis, Tunisia, Olukoyede emphasized the critical need for these advanced technologies in addressing the $88.6 billion Africa loses annually to illegal fund flows.



Harnessing Technology to Safeguard Africa's Future



Olukoyede voiced concern over the misuse of funds that could otherwise bolster infrastructure, healthcare, and education across the continent. He underscored the necessity of enhanced legal and institutional frameworks to curb illicit financial flows (IFFs) more effectively.



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