Mr. Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), has identified public corruption as the primary impediment to Nigeria’s development. Olukoyede shared his perspective during a courtesy visit from the management team of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), led by its Chairman, Mohammed Shehu, on Wednesday in Abuja.
Olukoyede emphasized that public corruption is the largest contributor to the nation’s corruption issues. He stated that eliminating corruption from public offices would significantly improve Nigeria’s standing globally.
“A situation where somebody holds a public office or position of trust for years and refuses to account for their actions is unacceptable,” Olukoyede remarked, stressing the necessity for transparency and accountability in both public and private sectors to achieve optimal national development.
The EFCC chairman decried the rampant theft by corrupt officials, particularly the diversion of unspent allocations in government agencies. “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,” he noted. He described the transfer of unspent budget allocations to private accounts as particularly egregious.
Acknowledging the challenge posed by corruption, Olukoyede expressed confidence in the preventive measures his leadership has implemented, which he believes will outpace the strategies of corrupt individuals. He highlighted the establishment of the Department of Fraud Risk Assessment and Control as a key initiative.
Olukoyede also pointed out that corruption in Nigeria is systemic and entrenched, advocating for improved systems of revenue generation and fund appropriation to reduce leakages. “If we don’t look at the system, we will continue to chase shadows; what we have decided to do in the EFCC is Policy Review,” he said, emphasizing the importance of blocking leakages and ensuring effective capital project execution.
He assured the RMAFC of continued EFCC collaboration and urged the delegation to support President Bola Tinubu’s efforts to reposition the country. “The President relies on you and me and all the people he has put in positions of trust and responsibility for success,” Olukoyede stated.
Earlier, Shehu commended the ongoing collaboration between RMAFC and the EFCC, emphasizing the need to enhance this partnership, particularly in recovering unremitted or lost government revenues. He called for greater collaboration in enforcement, intelligence gathering, and data sharing to address revenue challenges. Shehu also sought EFCC’s assistance in building RMAFC staff capacity in revenue monitoring.
The meeting underscores the critical role of inter-agency cooperation in combating corruption and enhancing Nigeria’s financial integrity.
Comments