Rita Odafe
EFCC Chairman Discusses Corruption’s Impact on Nigeria
Ola Olukoyede, the leader of the Economic and Financial Crimes Commission (EFCC), has highlighted that despite Nigeria’s wealth in natural resources, corruption is the key obstacle hindering progress.
During a three-day workshop focusing on anti-corruption, fiscal responsibility, transparency, and good governance at the EFCC Academy in Karu, Abuja, Olukoyede asserted that the agency will be strict with public officials who misuse government resources for personal gain.
This workshop, organized in partnership with the House Committee on Financial Crimes, aimed at educating state and local government officials on effective financial management practices.
Representing Olukoyede, Chinwe Ndubueze, the Commandant of the EFCC Academy, emphasized the need for accountability and integrity in governance, stating these principles are critical for Nigeria’s advancement.
“The EFCC, under my leadership, will not show leniency towards public officials who violate rules for personal enrichment,” he asserted.
Olukoyede pointed out the severe repercussions of corruption on national development, observing that “70 percent of Nigeria’s public sector issues stem from inadequate fiscal transparency. Every budget cycle sees trillions of naira set aside for vital infrastructure, social, and economic demands.
“Unfortunately, we face the dire consequence of rules being ignored and funds misappropriated or outright stolen through various fraudulent activities, leaving the public to bear the burden caused by a few corrupt officials.”
He further highlighted the pivotal role of public servants in molding Nigeria’s destiny, noting their actions significantly affect the economic and social landscape of the country.
“As public officials, you are in a critical position to shape the future of this nation. With all its human and natural resources, Nigeria should not be struggling with poverty; however, corruption remains the weight that holds this nation back,” he concluded.
