Daud Olatunji
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised the alarm over the staggering extent of corruption in Nigeria, revealing that if Nigerians were to see some case files, they would be moved to tears by the magnitude of the theft.
Speaking on Tuesday, Olukoyede highlighted the severity of the issue during a meeting with the management team of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), led by its Chairman, Mohammed Shehu.
According to a statement released by the EFCC’s Head of Media and Publicity, Dele Oyewale, Olukoyede shared his dismay over the enormous sums stolen, which cast doubt on how the country manages to survive under such circumstances.
“When I look at some case files and see the humongous amount of money stolen, I wonder how we are still surviving.
“ If you see some case files, you will weep. The way they move unspent budget allocation to private accounts in commercial banks before midnight at the end of a budget cycle, you will wonder what kind of spirit drives us as Nigerians,” he said.
Olukoyede stated that public sector corruption is the most significant contributor to Nigeria’s woes.
He insisted that eliminating corruption in public offices would significantly improve the nation’s prospects, making it more competitive globally.
“A situation where somebody would hold a public office or position of trust for years and you call him to account and he says no, he would not account, is not acceptable,” he declared.
Highlighting the need for transparency and accountability, Olukoyede stressed that both public and private sectors must adopt these principles to ensure the country’s optimal development.
He expressed optimism about the EFCC’s preventive mechanisms under his leadership, aimed at staying ahead of corrupt practices and ensuring better governance for Nigerians.
“He insisted that the preventive framework of tackling corruption offers more prospects of results and impact.
To this end, the EFCC now has a Department of Fraud Risk and Assessment and Control,” the statement read.
Olukoyede also called for a critical examination of Nigeria’s revenue generation system, pointing out that it currently allows for significant leakages in the mobilisation and appropriation of funds.
He advocated a policy review to address these issues, suggesting that if even half of Nigeria’s capital projects were executed properly, the country would fare much better.
In response, RMAFC Chairman Mohammed Shehu praised the ongoing collaboration between the two agencies. He emphasized the importance of their partnership in tackling the issue of unremitted government revenues.
“It is important to bring to the fore that the collaboration between RMAFC and EFCC is crucial in addressing the challenges of unremitted revenue to the Federation Account.
On this note, we are calling on EFCC for more collaboration, not only in the area of enforcement but also intelligence gathering and data sharing as regards government revenue from any source,” Shehu said.
Shehu also appealed to the EFCC to assist in enhancing the capacity of RMAFC staff on revenue monitoring, underlining the need for continued cooperation to curb financial malpractices and recover lost government revenues.
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