At the sidelines of the 80th United Nations General Assembly (UNGA), the Chairman of Nigeria’s Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, delivered a compelling call for sweeping reforms across African nations to unlock the continent’s full investment potential.
Speaking at a high-level dialogue on “Strengthening Governance and Transparency for Sustainable Development in Africa,” Olukoyede emphasized that while Africa holds immense promise, systemic challenges—particularly corruption, weak institutions, and regulatory bottlenecks—continue to deter global investors.
“Africa must confront the hard truths. Without bold reforms that strengthen governance, enforce transparency, and protect investor rights, we will remain on the margins of global capital flows,” Olukoyede stated.
He highlighted the EFCC’s renewed commitment to institutional integrity, digital transparency, and cross-border collaboration as part of Nigeria’s broader anti-corruption strategy. The Commission has recently launched initiatives to streamline asset recovery, enhance financial intelligence, and digitize procurement processes.
Olukoyede also called for a continental framework to harmonize anti-corruption laws, improve judicial efficiency, and reduce bureaucratic red tape—arguing that such reforms would not only attract foreign direct investment but also empower local entrepreneurs and drive inclusive growth.
The session drew participation from African ministers, development partners, and private sector leaders, many of whom echoed the need for reform-driven leadership and regional cooperation.