EFCC Chairman

Author: Gist Correspondent

The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has identified contract fraud as the most widespread form of corruption in Nigeria's public sector, warning government officials against using public office for personal enrichment.

Olukoyede gave the warning on Thursday during a two-day induction programme organised by the Bureau of Public Service Reforms for the Chairmen, Chief Executive Officers and members of the Governing Board of the South-South Development Commission in Abuja.

Speaking on the theme, "The Role of the Economic and Financial Crimes Commission in Improving Accountability in the Public Service," the EFCC boss said public office is a sacred trust that must be used to protect national resources rather than enrich individuals.

He described contract fraud as the most common form of corruption in government institutions, explaining that it often involves manipulation of procurement processes to favour individuals or selected companies at the expense of due process.

According to him, many public officials exploit procurement procedures through contract splitting, bid manipulation, awarding contracts to unqualified firms and approving payments for poorly executed or abandoned projects.

Olukoyede lamented that corruption continues to cost the country billions of naira annually, with funds meant for infrastructure and essential public services frequently diverted for private gain.

He listed other common forms of corruption in the public sector to include embezzlement of public funds, diversion of government resources, bribery, kickbacks, procurement fraud, payroll fraud, pension fraud and abuse of duty tour allowances.

The EFCC chairman reminded participants that the anti-graft agency was established in 2003 to investigate and prosecute economic and financial crimes, recover stolen assets and promote integrity through public enlightenment.

He, however, acknowledged that the commission's anti-corruption efforts are constrained by limited manpower and resources, delays in prosecuting high-profile cases, inadequate public support and allegations of selective investigations.

Addressing members of the South-South Development Commission Governing Board, Olukoyede urged them not to regard their appointments as an opportunity to share in the nation's wealth but as a call to selfless service and accountability.

He advised the officials to familiarise themselves with the Financial Regulations, Public Service Rules and the Public Procurement Act, stressing that strict compliance with the law remains essential to transparent governance.

Olukoyede also warned them against seeking contracts from the commission they serve, operating foreign bank accounts, engaging in businesses that conflict with their official responsibilities or conducting financial transactions outside recognised financial institutions.

He further urged public officers to maintain proper financial records and carefully scrutinise every official document before appending their signatures, stressing that a public officer's signature represents both personal integrity and legal responsibility.