EFCC Chairman Raises Alarm Over Alleged Theft of Nigeria’s Public Funds

EFCC Chairman Raises Alarm Over Alleged Theft of Nigeria’s Public Funds

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns over the scale of alleged public-sector corruption in Nigeria, saying some public officers take national resources “every minute”.

Olukoyede made the remarks on Thursday in Abuja at an event held to mark the 80th birthday of former Attorney-General of the Federation and Minister of Justice, Kanu Agabi.

The EFCC chairman said the commission receives more than 20,000 petitions relating to public corruption annually, describing the cases as disturbing.

He said the volume of petitions and the details contained in some of the commission’s case files showed the extent of alleged misuse of public funds and national resources.

Olukoyede said Nigerians were ultimately the victims of fraudulent activities involving public resources and called for greater collective efforts to promote accountability in public office.

He said some public servants allegedly enter office with less than ₦100,000 in their bank accounts but leave after three or four years with millions of naira and dollars traced to them.

According to the EFCC chairman, investigators have also encountered cases involving public officials who allegedly acquired large numbers of properties while in office.

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He cited instances where investigators allegedly traced 50 or even 200 houses to individuals, questioning how Nigeria could achieve meaningful development if public resources were diverted on such a scale.

Olukoyede stressed that public officials should be able to account for their activities and finances while in office, identifying transparency and accountability as essential principles of public service.

The EFCC chairman’s remarks came amid the commission’s ongoing investigations, prosecutions and asset recovery activities involving suspected economic and financial crimes.

Olukoyede has previously disclosed figures showing the scale of the commission’s recent workload, including thousands of petitions, investigations and court cases.

The commission has also reported substantial recoveries of funds and assets linked to suspected proceeds of crime during his tenure.

At the Abuja event, the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Musa Adamu Aliyu, also identified societal tolerance and weaknesses in government systems as factors that allow corruption to persist.

Aliyu called for stronger integrity education in primary and secondary schools, saying young Nigerians should be taught the importance of honesty, accountability and responsible citizenship.

He specifically urged stakeholders to engage Generation Z and Generation Alpha on the need to embrace integrity.

The event brought together members of the judiciary and legal profession, public office holders, civil society organisations, academics and other stakeholders.

Olukoyede’s comments add to the EFCC’s continuing campaign for stronger accountability in public service, as the commission pursues investigations and prosecutions involving suspected economic and financial crimes.

EFCC Chairman Raises Alarm Over Alleged Theft of Nigeria’s Public Funds