The Economic and Financial Crimes Commission, EFCC, yesterday, raised the alarm over the number of petitions it received in Lagos on investment and forex-related scams, totalling sums of N317.9 billion, $3.205 million and N1.686 billion.

It also expressed concern at the rate Nigerians fall prey to forex scam, business email compromise, investment scams and land and property fraud.

Acting Executive Chairman of EFCC, Mr. Abdulkarim Chukkol, at a workshop on Economic and Financial Crimes Reporting for Journalists, in Lagos, yesterday, said: “As the economic nerve centre of Nigeria, all manner of economic and financial crimes find the Lagos environment a perfect location to incubate and bloom.

“Forex scam, business email compromise, investment scams and land and property fraud among others, are some of the financial and economic crimes prevalent within the Lagos environment.

“As an indication of the magnitude of the challenge, the Lagos Command had received a total of 512 and 876 petitions on investment and forex-related scam respectively, involving the sums of N317.9 billion, $3.205 million and N1.686 billion.

“Many of these cases are under investigation while recoveries running into billions of naira and millions and thousands of other currencies have been made.

“While the commission’s enforcement activities are directed at the perpetrators of these crimes, we are worried at the ease with which citizens fall prey to the wiles of the scammers. Their folly is energized by the desperation to get rich quick.

“In the last couple of months, we have intensified public sensitization in line with our belief that some of these crimes could be prevented, if people have the right information. This is where your (media) professionalism and collaboration are needed.

“We need the media to help in educating citizens to be circumspect in embracing investment opportunities, especially where the return on investment seems too good to be true.

“It bears reiterating that we owe our nation and the entire world an obligation of exposing every criminal act through our reporting.

“The fight against financial and economic crimes should not be left to the EFCC and other ant- corruption agencies. The media should do more to support the commission and mobilize the people to take full ownership of the fight against corruption in our country,” he added. (Vanguard)

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