29th October, 2024
The Economic and Financial Crimes Commission (EFCC) has reaffirmed its commitment to combating corruption, as outlined in President Bola Tinubu’s manifesto, under the leadership of Ola Olukoyede.
The commission is actively pursuing high-profile corruption cases inherited from previous administrations.
This week, the EFCC released Olukoyede’s scorecard for his first year in office, revealing an impressive 3,455 convictions from October 19, 2023, to September 30, 2024. Of these, 826 convictions were secured in various courts across the country between October 19 and December 31, 2023, while 2,629 were achieved from January 1 to September 30, 2024.
Upon taking office, Olukoyede pledged to enhance the agency’s effectiveness and professionalism, stating, “We are committed to driving professionalism in our duties in accordance with the rule of law. The rule of law will be our guiding principle. Our goal is to ensure that when you see EFCC personnel, you witness a standard of professionalism. We will also focus on preventive measures, as it is more beneficial to save government funds than to expend them on prosecution.”
Inheriting the mandate to combat corruption, Olukoyede has taken up the challenge left by his predecessors, Ibrahim Magu and Abdulrasheed Bawa. Despite the challenges, his extensive background as a lawyer and anti-corruption strategist has informed his approach, particularly in pursuing cases involving political elites, including members of the President’s own party.
Noteworthy cases currently under investigation include those involving former governors Willie Obiano, Yahaya Bello, Abdulfattah Ahmed, and Darius Ishaku, as well as former Central Bank of Nigeria governor Godwin Emefiele. These cases comprise part of the 25 high-profile corruption cases that the EFCC inherited after Bawa’s suspension.
Specifically, Bello has been accused of defrauding the state of N110 billion, with 19 charges initially filed against him, his nephew Ali Bello, Dauda Suliman, and Abdulsalam Hudu for money laundering offences totalling N80,246,470,088.88.
However, as of September 25, the total amount in the new charges has risen to N110,446,470,089.00, with allegations of acquiring 12 properties in Abuja using these funds. The EFCC has declared Bello wanted following his absence from court.
On September 27, 2024, Ishaku and former Permanent Secretary Bello Yero were arrested for allegedly misappropriating N27 billion from the Bureau for Local Government and Chieftaincy Affairs. They are accused of diverting N1,010,000,000 for personal use between August 25, 2015, and March 21, 2016, in Abuja, which was part of the Bureau’s contingency funds.
Additionally, the EFCC has filed 14 new charges of N5.78 billion against former Kwara governor Abdulfattah Ahmed concerning the misappropriation of public funds intended for various projects. Ahmed and his former finance commissioner, Ademola Banu, previously faced a 12-count charge for mismanaging public funds.
Former Anambra governor Willie Obiano, who served from March 2014 to March 2022, is also facing a nine-count indictment for allegedly defrauding the state of N4 billion, which was reportedly siphoned from Anambra’s security votes account.
Emefiele is currently being prosecuted on 20 amended charges related to conspiracy, criminal breach of trust, and forgery, involving $6,230,000.
A source within the commission remarked that Olukoyede’s approach reflects a steadfast commitment to making corruption unattractive, especially among public officials handling government funds. The source highlighted Olukoyede’s emphasis on transparency, accountability, and strategic prosecution to fulfill the mandate bestowed upon him by President Tinubu.
Moreover, Olukoyede aims to restructure the EFCC’s internal processes to prevent power misuse and enhance investigative capabilities for high-profile cases.
“His vision extends beyond prosecution; he seeks to implement preventive measures within Nigeria’s financial systems to safeguard against money laundering and financial mismanagement,” the source, preferring anonymity, stated.
Another insider emphasized that the scrutiny faced by Olukoyede from both the public and political figures underscores that the EFCC chief is on the right path.
“His success could signify a turning point in restoring trust in government institutions,” the source noted, adding that Olukoyede’s ambition is to forge a robust anti-corruption agency capable of delivering justice impartially.