Public officials moving unspent budget allocation to private accounts - EFCC

• EFCC Chairman Ola Olukoyede has accused certain public servants in ministries and agencies of diverting unspent budget allocations to private accounts
• Olukoyede criticized the pervasive theft by corrupt individuals, especially the misappropriation of unspent allocations within government agencies
• Olukoyede expressed confidence that the EFCC's preventive measures would help combat corruption and ensure better governance in Nigeria

FCT, Abuja - The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has alleged that certain public servants within various ministries, departments, and agencies (MDAs) are redirecting unspent budget allocations to private accounts in commercial banks.

Olukoyede revealed that these funds are typically moved to the banks just before midnight at the end of each budget cycle.

EFCC chairman, Ola Olukayode raises alarm over corrupt activities in MDAs Photo credit: Ola Olukayode
Source: Facebook

He criticized the extent of theft by corrupt individuals in the country, particularly the misappropriation of unspent allocations within government agencies, highlighting public corruption as a major obstacle to Nigeria's development, as reported by The Guardian.

Olukoyede made this statement in Abuja on Tuesday, July 2, 2024, during a courtesy visit from the management team of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), led by its Chairman, Mohammed Bello Shehu.

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He said:

"When I review some case files and see the vast amounts of money stolen, I am astonished that we are still surviving. Some files are so disheartening, they could bring you to tears. "The manner in which unspent budget allocations are transferred to private accounts in commercial banks just before midnight at the end of a budget cycle is truly baffling. It makes you question the mindset driving us as Nigerians."

Olukoyede emphasized that public corruption is the primary source of corruption in Nigeria.

He asserted that if public corruption were eliminated, the country would surpass many others globally in development.

The EFCC boss highlighted the necessity for transparency and accountability in both the public and private sectors to achieve optimal national progress.

Acknowledging the significant challenge posed by corruption, Olukoyede expressed confidence that his leadership's preventive measures would keep the Commission ahead of corrupt practices, ensuring better Nigerian governance.

Nigerians react

Following this revelation, Nigerians have taken to their social media platforms to react.

@shehu_mahdi said:

"Pls time for Lamentations are over. Act now or never. It was this type of complaint that led Buhari to destroy Nigeria."

@Anonnymous_Lord said:

"Show workings, not Cho Cho Cho. Ordinary Yahaya Bello, you can't arrest. It's only going after small small boys like prostitute you know what to do."

@Maxajee said:

"As the chairman of the largest anti corruption commission in Africa, He should limit his interviews with press reporters & start making arrest. Yahaya Bello is still at large alongside other known politicians that are wanted by the commission."

EFCC officer takes his own life in Abuja residence

In another report, an officer of the Economic and Financial Crime Commission took his own life at his residence in the Federal Capital Territory, Abuja.

Legit.ng reported that the officer, whose name and other biodata are purposefully withheld till the authorities find out what prompted him to pass away by his hand, was a member of Course 5 of the anti-graft agency’s academy.

Source: Legit.ng