EFCC Chair Reports Recovery of N60bn and $10m in 4 Months

• EFCC Chairman Ola Olukoyede reports the recovery of N60 billion and $10 million since taking office, addressing operational challenges
• Olukoyede emphasizes collaborative efforts in combating corruption and calls for public support in anti-graft initiatives and upholding integrity

Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), revealed the recovery of a substantial sum totaling N60 billion and $10 million since assuming office. Addressing the agency’s progress, Olukoyede highlighted the reception of over 5,000 fraud petitions, with 3,000 earmarked for a thorough investigation.

During a speaking engagement at the 20th-anniversary lecture of the Human and Environmental Development Agenda Resources Centre (HEDA) in Lagos, Olukoyede underscored the EFCC’s mandate and operational challenges. He emphasized the need for collaborative efforts in combating corruption, urging stakeholders to play an active role in supporting anti-graft initiatives.

The EFCC Chairman lamented the misconception surrounding the agency’s operations, emphasizing the collective responsibility of upholding integrity and transparency. Despite resource constraints, Olukoyede reiterated the agency’s commitment to diligent investigation and prosecution of offenders.

With convictions secured for 700 cases within four months, Olukoyede highlighted the staggering extent of financial malfeasance, indicating a broader systemic issue. He called upon Nigerians to rally behind the EFCC in its anti-corruption crusade, emphasizing the importance of a robust judicial system and accountability measures.

President Bola Tinubu’s appointment of Olukoyede as EFCC chairman underscored the government’s resolve to tackle corruption head-on. However, recent revelations of internal misconduct within the commission serve as a stark reminder of the challenges ahead.

In a stern warning to errant officials, Olukoyede reiterated the zero-tolerance stance on corruption within the EFCC ranks, urging compliance with ethical standards or face the consequences. As the agency navigates complex terrain, public support, and collaborative partnerships remain crucial in realizing its mandate of ensuring accountability and transparency in Nigeria’s financial sector.