The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has delivered a stark assessment of Nigeria’s corruption crisis, declaring that procurement and contract fraud are the nation’s most significant challenges. Speaking at a meeting with the Bureau of Public Procurement (BPP) led by its Director-General, Adebowale Adedokun, Olukoyede emphasized that these illicit activities permeate the public sector, hindering development and undermining public trust.
“In the EFCC, we grapple with both private and public sector fraud,” Olukoyede stated. “Within the public sector, a domain rife with challenges for Nigeria, we’ve observed that contract and procurement fraud constitute a staggering 90 percent of the overall corruption cases. This encompasses a wide range of deceitful practices, including commingling of funds, contract splitting, and various other forms of manipulation.”
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He further lamented the devastating impact of these corrupt practices on the nation’s progress: “Infrastructure development and other crucial aspects of national development are severely hampered by the pervasive issue of contract and procurement fraud.” Olukoyede stressed the importance of collaborative efforts between the EFCC and the BPP, highlighting the need for enhanced cooperation in project implementation and monitoring.
Adedokun, in his address, underscored the BPP’s commitment to a renewed focus on integrity and transparency. He emphasized that the bureau, under his leadership, is dedicated to streamlining procurement processes and minimizing opportunities for corruption.
The EFCC’s credibility has taken a significant hit in recent months. The abrupt postponement of a highly anticipated media chat scheduled for January 19th further fueled public speculation and raised concerns about the commission’s transparency and accountability.
While the EFCC plays a crucial role in combating financial crime, it is imperative that the commission operates within the bounds of the law and respects the fundamental rights of all citizens.
