Procurement fraud, major challenge in Nigeria – Olukoyede

The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, stated that public sector corruption was the greatest problem in the country.

According to him, procurement and contract fraud accounted for 90 per cent of Nigeria’s corruption and fraud issues.

A statement on Friday by EFCC’s spokesman, Dele Oyewal,e said Olukoyede disclosed this during a meeting with a delegation of the management team of the Bureau of Public Procurement led by its newly-appointed Director General, Dr. Adebowale Adedokun at the corporate headquarters of the EFCC.

“In the EFCC, we handle both private and public sector fraud. And when it comes to the public sector, which is one of our major problems in Nigeria, we discovered that contract and procurement fraud takes more than 90 perc ent of the volume of public sector fraud. And if you look at it, they range from commingling, contract splitting and all forms of shenanigans all over the place.

“Infrastructure-wise and all other developmental problems are attributable to contract and procurement fraud. It lies with you and with me to make a change. If we can work together, we will be able to leave this country better than we met it,” he said.

Olukoyede further emphasised the need for enhanced collaboration between the EFCC and the BPP in many areas, especially in project implementation and monitoring.

“So, I like your commitment, the new spirit you have brought into the agency. We are going to work together. We are going to collaborate for the sake of this country and for us to ensure that the 2025 budget is well implemented and executed. There is no hiding place for BPP. And there is no hiding from the EFCC. That’s the truth”.

Earlier in his remarks, Adedokun disclosed that the visit was to assure the EFCC and Nigerians that the Bureau, under his leadershi,p was on a mission for a rebirth.

“We are here to reassure you and your team that we are committed to making your job easier. We are here to reassure the 220 million Nigerians that they can go to sleep when it comes to how procurement is being done.

“We want to see that the EFCC can trust our documents without having to doubt. Documents that you can trust in your decision-making, in your investigation of fraud-related issues and procurement. We are here because we want to be open in terms of what we do and how we do it. We want to give Nigerians the assurance that it’s no longer business as usual. And we have started,” he said.