The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has called on the National Assembly to urgently pass the bill seeking to criminalise unexplained wealth, stressing that Nigeria cannot win the war against corruption without it.
Speaking on Wednesday at the National Conference on Public Accounts and Fiscal Governance in Abuja, Olukoyede said the bill, which was rejected by the last assembly, is critical to empowering anti-graft agencies to investigate individuals whose assets exceed their known legitimate earnings.
“If we don’t make individuals accountable for what they have, we will never get it right,” Olukoyede said. “Help me pass the unexplained wealth bill. I’ve been begging for the past one year.”
The EFCC boss lamented that the lack of such a law often hampers investigations. He cited an example where a civil servant who had worked for 20 years owned five luxury properties in Abuja, yet investigators are forced to first prove a predicate offence before taking action.
“This is absurd,” he said. “Once you are living beyond your means, you should be held accountable.”
Olukoyede also revealed that the EFCC recently launched a sweeping probe into the oil and gas sector, with preliminary findings already described as “mind-boggling.”
“What we have discovered is just the surface. The level of corruption is deeply connected to insecurity—kidnapping, terrorism and banditry,” he said.
He further disclosed that last month, he visited multiple countries in a bid to recover stolen Nigerian assets. In one instance, a Nigerian was found to have acquired an estate in Iceland.
“No matter the capacity I build or efforts I make, I cannot recover even half of what has been stolen. Foreign countries holding our stolen assets are unwilling to release them,” he said.
He criticised such countries for enabling corruption by refusing to repatriate looted funds, insisting they are complicit in shielding criminals.
Olukoyede concluded that Nigeria’s borrowing crisis could be avoided if corruption was curbed and transparency ensured in revenue generation and public spending.
'
'
'
'Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
