Nigerian Communications Commission NCC, says effective application of Information and Communication Technology ICT, is critical in combating financial crimes by enabling real-time surveillance, regulatory compliance, and secure data processing, just as it sought a multidisciplinary and multi-stakeholder collaborations to address issue of illicit financial flows in the country.

Executive Vice Chairman of the Commission, Aminu Maida, who was a speaker at the 11th Anniversary Lecture Series of RealNews Magazine in Lagos, where he was also inducted into the RealNews Hall of Fame said robust ICT systems are critical for preventing and investigating financial crimes or mitigating the risks associated with virtual assets in the financial markets.

Maida, who was represented at the forum by the NCC’s Director of Public Affairs, Reuben Muoka, described financial crimes as criminal activities that involve transactions, abuse, misuse, deception, or manipulation of financial systems for personal gain.

He said the crimes also include a wide range of offenses such as Insider abuse, money laundering, terrorism financing, embezzlement and all kinds of fraud.