Mr. Ola Olukoyede, the Chairman of the Economic and Financial Crimes Commission (EFCC), has painted a dire picture of corruption in Nigeria, particularly in the power sector. According to Olukoyede, the level of corruption is so severe that it would move people to tears.
Speaking at a meeting with the management team of the Revenue Mobilisation Allocation and Fiscal Commission, Olukoyede expressed frustration over the staggering amounts of money siphoned from the country’s coffers. He highlighted the practice of moving unspent budget allocations to private accounts in commercial banks before the end of a budget cycle, describing it as a disturbing trend.
Olukoyede emphasized that public corruption is the most significant form of corruption in Nigeria and stressed the need for transparency and accountability in both the public and private sectors. He believes that eradicating public corruption would significantly improve Nigeria’s standing globally.
To tackle this challenge, the EFCC has secured 3,175 convictions and recovered N156 billion in just one year. Olukoyede has also charged EFCC officers to make more sacrifices and add value to the fight against corruption.
As Nigeria continues to grapple with corruption, Olukoyede’s words serve as a stark reminder of the need for collective action to address this epidemic.
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