Olukoyede: Nigeria’s development relies on fighting corruption together

Abuja, Nigeria – January 31, 2025 – The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa Olukoyede, emphasized the critical role of collective action in combating corruption as a pathway to Nigeria’s development.

His remarks came during a courtesy visit from officials of the Centre for Crisis Communication (CCC) at the EFCC corporate headquarters in Abuja.

Olukoyede asserted that the pervasive issue of corruption is a shared enemy that requires a united front from both the government and citizens.

“One of the major problems in Nigeria which, when tackled, will make under-development a thing of the past, is corruption and financial crimes,” he stated.

He underscored the necessity for every Nigerian to take personal responsibility in the fight against corruption, urging citizens to “make up his or her mind to do the right thing” to foster national progress.

During the meeting, Olukoyede expressed his approval of the CCC’s proposal for collaboration in strategic communication and public engagement.

He highlighted that the success of the EFCC is heavily reliant on public involvement and advocacy.

“We appreciate your proposal for synergy and collaboration to support our work,” he noted.

Furthermore, he emphasized the importance of raising public awareness about the detrimental effects of corruption.

However, Olukoyede expressed concern over the paradox of public sentiment.

Citizens often decry corruption yet rally behind corrupt leaders when high-profile cases arise.

This contradiction undermines the seriousness of the fight against corruption.

“It doesn’t demonstrate our commitment to this battle,” he remarked.

He stressed that combating corruption requires a collective effort; the EFCC cannot wage this war alone.

He called for a societal commitment to change, which includes necessary policy reforms and improved citizen welfare. Such changes are vital for fostering a culture of accountability and integrity.

In outlining his leadership approach, Olukoyede revealed a strategic shift towards prevention rather than enforcement since assuming office. This proactive stance aims to address corruption before it occurs.

He introduced a new directorate, the Fraud Risk Assessment and Control (FRAC), designed to mitigate financial crimes proactively.

This initiative reflects a commitment to preventing corruption rather than merely reacting to it.

“We want to track and see where every released fund is going,” he explained.

He highlighted the Commission’s access to the Government Integrated Financial Management Information System (GIFMIS) for monitoring public funds effectively.

While Olukoyede reaffirmed the Commission’s commitment to enforcement, he argued that prevention is more cost-effective.

By focusing on prevention, the EFCC can reduce the need for reactive measures significantly.

“We believe it is crucial to prevent, as it costs less than reacting after the damage is done,” he stated.

This perspective underscores the importance of proactive strategies in combating financial crimes.

Moreover, the EFCC chairman pointed to the significance of intelligence gathering in achieving recent successes.

Leveraging data and insights has proven instrumental in enhancing the Commission’s operational effectiveness.

As Nigeria grapples with corruption challenges, Olukoyede’s call to action serves as a reminder.

The fight against financial crimes necessitates a united effort from all sectors of society to create lasting change.

The EFCC remains open to collaborations that foster public engagement and education, reinforcing its mandate to combat corruption effectively.