Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), has voiced his frustration over the rampant corruption in Nigeria. During a meeting with the management team of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), led by its Chairman, Mohammed Shehu, Olukoyede expressed disbelief at the nation’s endurance despite the vast sums of money embezzled.
He remarked, “When I review case files and see the enormous amounts stolen, I wonder how our country is still surviving. The public would be heartbroken if they saw some of these files.” Olukoyede highlighted that public corruption is a primary driver of the nation’s problems and asserted that removing it from the political sphere would significantly improve Nigeria’s condition.
He criticized the practice of transferring unspent budget allocations to private accounts just before the fiscal year ends, questioning the motivations behind such actions. “A situation where someone holds a public office for years and refuses to account for their actions is unacceptable,” he stated.
Olukoyede emphasized the need for transparency and accountability in both the public and private sectors to foster national development. He acknowledged that corruption poses a significant challenge but expressed confidence that his leadership’s preventive measures would outpace corrupt practices, ensuring better governance for Nigerians.
“The preventive framework for tackling corruption offers more prospects for results and impact,” he said, noting the establishment of the EFCC’s Department of Fraud Risk and Assessment and Control. Olukoyede stressed the importance of addressing systemic issues in revenue generation to prevent financial leakages and enhance capital project execution in Nigeria.
He assured 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, me, and all entrusted individuals for success,” Olukoyede added.
Earlier, RMAFC Chairman Shehu praised the longstanding collaboration between the two agencies and emphasized the need for enhanced cooperation, especially in recovering unremitted or lost government revenues. He called for more joint efforts in enforcement, intelligence gathering, and data sharing concerning government revenue.
Shehu also requested the EFCC’s assistance in building the capacity of RMAFC staff on revenue monitoring, underscoring the importance of their partnership in addressing revenue challenges.