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The action is anticipated to enhance openness, boost the recovery of assets, and prevent economic disruption, as stated by Dele Oyewale, head of Media and Publicity at EFCC.

He mentioned that the collaboration was established by the signing of a Memorandum of Understanding (MoU) on Thursday in Abuja.

The deal seeks to enhance coordination among different agencies, especially in the fields of investigations, tracking of assets, and evaluating fraud risks, signifying a new era of partnership between the anti-corruption body and Nigeria’s space research and regulatory organization.

At the signing event, Ola Olukoyede, the executive chairman of the EFCC, referred to the deal as a tangible example of the strength found in cooperation between government bodies.

He observed that enhanced collaboration would facilitate institutions in efficiently fulfilling their legal responsibilities.

As per Olukoyede, the MoU explicitly outlines the duties of both organizations and sets up a structure for ongoing collaboration.

He revealed that a dedicated monitoring and implementation team would be established to guarantee the successful execution of the agreement and to regularly assess its effects.

We will form a team to oversee the implementation of this MoU and periodically assess the platform’s effectiveness.

” When organizations cooperate with a spirit of teamwork, it not only improves effectiveness but also inspires other government bodies, departments, and agencies to seek comparable collaborations for the benefit of the country’s growth,” he stated.

Elaborating on the details of the collaboration, the EFCC chairman mentioned that NASRDA would supply cutting-edge technological equipment to enhance the Commission’s investigative capabilities and asset monitoring, while the EFCC would utilize its knowledge to assist the agency in evaluating fraud risks.

We will assist you with fraud risk evaluation, and you will help us in highlighting our investigative capabilities.

“Where our vision cannot reach, with the help of your technology, we will be able to go,” Olukoyede stated.

He pointed out that the partnership would be especially advantageous for examining illegal mining operations, which have been associated with economic disruption and increasing instability in certain regions of the nation.

“With the technology you will assist us with, we will be capable of pinpointing some of these regions,” he further stated.

Olukoyede added that he is confident the collaboration will greatly improve the EFCC’s asset management procedures, emphasizing that recovering assets is among the key focuses of the Commission’s responsibilities.

He stated that the recovered assets are spread throughout the nation and have various legal conditions, such as temporary and permanent seizure.

“In certain locations, we might lack sufficient staff to physically protect the assets. However, with your assistance, we can implement geospatial technology and asset tracking devices to oversee both movable and immovable assets in a clear and responsible way,” he stated.

In his statement, Matthew Adepoju, director-general and chief executive officer of NASRDA, expressed approval of the collaboration, referring to the MoU as a significant step forward in the quest for fairness and adherence to regulations within Nigeria’s space sector.

Adepoju emphasized that space-related operations are closely monitored in advanced economies and must be approached with the same level of attention in Nigeria, especially considering the risk of satellite resources being misused.

You can’t travel to any part of Europe, mainland America, or the Far East and operate within the space industry without the nation making sure you’re acting appropriately.

“It is certain that some satellite resources are being misused in fostering instability within the nation,” he stated.

He also expressed worries about the utilization of satellite-verified data regarding Nigeria’s natural resources that could support unlawful actions, particularly illegal mining, which he pointed out as a key factor contributing to instability.

Provided by SyndiGate Media Inc.Syndigate.info).