ECOWAS Sounds Alarm on Corruption as Major Threat to West Africa’s Development
The Economic Community of West African States (ECOWAS) has declared corruption and financial crimes as some of the most formidable obstacles stalling economic and social development across the region.
Speaking at the opening of a regional certification training on financial investigation in Niger State, Abdel-Fatau Musah, ECOWAS Commissioner for Political Affairs, Peace, and Security, warned that the fight against corruption must intensify if the region is to realize its development ambitions.
Represented by Ebenezer Asiedu, head of the ECOWAS Democracy and Good Governance Division, Musah emphasized the urgency of addressing financial misconduct, noting that the region cannot afford to underestimate the scale of the challenge.
“Democracy in most of our member states faces fragility, particularly due to the menace of corruption,” Musah said. “Research indicates Africa loses a staggering $88.6 billion annually to corruption and illicit financial flows—equivalent to 3.7 per cent of the continent’s GDP.”
The commissioner underscored that while ECOWAS has made strides in promoting democratic norms, the persistent threat of financial crimes—especially in the wake of growing digital financial systems and cryptocurrency use—demands renewed and specialized anti-corruption strategies.
“In response to these emerging risks,” he said, “ECOWAS has launched a five-day regional training program to build the capacity of anti-corruption institutions across member states. Our goal is to equip investigators with the tools to detect, counter, and recover assets linked to financial crimes.”
Musah linked the success of ECOWAS Vision 2050—an ambitious agenda for sustainable development and integration in the region—to eradicating corruption and illicit financial flows.
He also praised Nigerian President Bola Ahmed Tinubu for his leadership as ECOWAS Chair, describing his tenure as pivotal during a critical period in the bloc’s evolution.
“The ECOWAS Commission under the leadership of President Tinubu will leave no stone unturned in consolidating the region’s achievements in political development and integration,” Musah affirmed.
Echoing this sentiment, Ola Olukoyede, Chairman of Nigeria’s Economic and Financial Crimes Commission (EFCC), highlighted the significance of regional collaboration in the fight against corruption.
“This training reflects our shared determination to go beyond rhetoric and invest in building real capabilities,” Olukoyede said. “The threats we face—money laundering, terrorism financing, and financial fraud—are transnational, sophisticated, and deeply embedded. We must work as one to dismantle them.”
The training program, organized in partnership with the Network of Anti-Corruption Institutions in West Africa (NACIWA), the EFCC, and the ECOWAS Commission, brings together anti-corruption officers from across the sub-region.
