According to Punch Newspaper, The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns over the alarming scale of theft by corrupt individuals in Nigeria. During a recent meeting with the management team of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), led by its Chairman, Mohammed Shehu, Olukoyede expressed his dismay at the staggering amounts embezzled as reflected in the case files. He remarked that if the general populace were privy to these case files, they would be deeply distressed, highlighting the severity of the issue.
In his address, Olukoyede emphasized the critical need for transparency and accountability across both the public and private sectors to drive the country's development. He underlined that corruption remains a formidable challenge that undermines national progress. Despite this, he conveyed a sense of optimism, asserting that the preventive measures implemented under his leadership are designed to outmaneuver the tactics of corrupt elements, thus ensuring better governance for Nigerians.
Olukoyede elaborated on the preventive strategies the EFCC is adopting to combat corruption effectively. He revealed that the EFCC has established a Department of Fraud Risk and Assessment and Control, which focuses on identifying and mitigating potential fraud risks before they escalate. This proactive approach, he insisted, holds greater promise for tangible results and substantial impact in the fight against corruption.
Furthermore, Olukoyede discussed the EFCC's policy review initiatives aimed at addressing financial leakages and enhancing capital project execution. He expressed confidence that by curbing these leakages and ensuring that at least 50 percent of capital projects are successfully executed, the country could experience significant improvements. These efforts reflect a strategic shift towards prevention and systemic reform as pivotal components of the EFCC's broader mission to foster a more accountable and transparent governance framework in Nigeria.
He said: 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.