Nigerians Will Cry If They Know How Much Money Public Officials Have Stolen – EFCC Chairman

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has expressed his dismay at the extent of corruption in the country.

During a meeting with the management team of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) headed by Chairman Mohammed Shehu, Olukoyede remarked that whenever he reviews case files and sees the amount of money stolen by public individuals, he questions how the country is still functioning.

The chairman of the anti-graft agency mentioned that if Nigerians were to see some of these case files, they would be moved to tears.

Olukoyede emphasized that public corruption is the primary cause of corruption in Nigeria, and suggested that if public corruption could be eradicated from the system, the country would be in a much better position.

He said: “When I look at some case files and see the humongous amount of money stolen, I wonder how we are still surviving. If you see some case files, you will weep.

“The way they move unspent budget allocation to private accounts in commercial banks before midnight at the end of a budget circle, you will wonder what kind of spirit drives us as Nigerians.

“A situation where somebody would hold a public office or position of trust for years and you call him to account and he says No, he would not account, is not acceptable.”

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Olukoyede emphasized the importance of integrating transparency and accountability into both the public and private sectors to facilitate the country’s optimal development.

Olukoyede highlighted the significance of incorporating transparency and accountability into both the public and private sectors to facilitate the country’s optimal development.

He said: “The preventive framework for tackling corruption offers more prospects for results and impact. To this end, the EFCC now has a Department of Fraud Risk and Assessment and Control.

“Let’s look at our system of revenue generation. It is a system that allows leakages in the mobilisation and appropriation of funds. If we don’t look at the system, we will continue to chase shadows.

“In this direction, we are not just going to investigate and recover; what we have decided to do in the EFCC is policy review. If we can block some of these leakages and have 50 per cent of capital project execution in Nigeria, the country would be fine.”

While assuring RMAFC of enhanced EFCC collaboration, Olukoyede tasked the delegation to continue to support President Bola Tinubu’s efforts geared towards repositioning the country.

“The President relies on you and me and all the people he has put in a position of trust and responsibility for success,” he said.

While acknowledging the significant challenge posed by corruption, Olukoyede remained optimistic about the effectiveness of his leadership’s prevention mechanisms, confident that they would keep the Commission one step ahead of corrupt individuals, ensuring that Nigerians experience good governance.

He emphasized that the preventive framework for combating corruption offers greater potential for success and impact. As a result, the EFCC has established a Department of Fraud Risk and Assessment and Control.

The head of the EFCC also characterized corruption in the country as systemic and deeply ingrained, suggesting that the nation would benefit from more efficient systems of operation.

Earlier in his speech, Shehu commended the longstanding partnership between the RMAFC and the EFCC, noting that the visit was driven by the desire to expand collaboration between the two government agencies, particularly in recovering unclaimed or lost government revenues.

“It is important to bring to the fore that the collaboration between RMAFC and EFCC is crucial in addressing the challenges of unremitted revenue to the Federation Account. On this note, we are calling on EFCC for more collaboration, not only in the area of enforcement but also intelligence gathering and data sharing as regards government revenue from any source,” he said.

He admonished the anti-graft agency to further assist his Commission in the area of capacity building of its staff on revenue monitoring.