TheCable

BY ADAGHER TERSOO

Since the establishment of the foremost anti-corruption agency in Nigeria, the Economic and Financial Crimes Commission (EFCC) 20 years ago, there has never been high hopes and expectations from Nigerians across board in the appointment of persons to head the anti-graft agency like the recent appointment of Ola Olukoyede.

From boardroom directors to captains of industries, all have continued to express their expectations towards setting an agenda for the new EFCC czar. Going by the voices raised by every stakeholder, every indication points to the unassailable fact that the commission is indeed at a critical point in fulfilling its mandate with the new sheriff on board.

The credit goes to President Bola Ahmed Tinubu who has presented the agency with a fresh opportunity for self-reinvention and acceleration in the fight against financial crimes in the country.

Until his appointment, Olukoyede had served as chief of staff to the then-acting chairman of the commission, Ibrahim Magu, and by dint of hard work and dedication to duty, was elevated as the secretary to the commission.

Olukoyede, a seasoned lawyer with over 22 years of experience, has a huge knowledge and operational expertise in fraud detection and corporate intelligence, making him a perfect fit for his new role on the frontline of the nation’s anti-corruption war.

As a regulatory compliance consultant who is seasoned and well-bred, Olukoyede’s credentials can be best attributed to the reasons for the tangible excitement amongst Nigerians within and outside the commission over his confirmation by the senate to head the anti-corruption agency.

With a few days onboard, Olukoyede has already swung into action to show Nigerians and indeed the entire world that he came ready-prepared for the job with a clear-cut agenda which is to re-position, redefine and re-engineer the commission for effective performance, especially at this critical moment in its chequered history when the agency is in dire need of fresh air to be injected in the fight against crime and corruption in the country.

This first-rank academic who has stepped in as helmsman of the anti-graft agency is a graduate of the Lagos State University; Institute of Arbitration ICC-Paris, France and the University of Harvard (Kennedy School of Executive Education). The erudite lawyer is a member of the Fraud Advisory Panel (UK) with a speciality in anti-corruption research, analysis and business intelligence gathering and processes.

It is particularly interesting to note that the new EFCC chairman was prominent in the Magu-led administration of the agency as he played a pivotal role in the building blocks of the commission’s operational protocols. His skills in fraud detection and corporate intelligence led to his appointment as the secretary to the commission.

While unfolding his blueprint to top management and staff of the commission, he did not mince words on his agenda to bring reforms to the commission that will be focused on professionalism, the core mandate of the commission, the rule of law, engendering transparency and accountability in its processes and operations, result-oriented EFCC, staff welfare and most importantly, preventive measures in the fight against graft.

In demonstration of his determination to provide quality, transparent and accountable leadership, the executive chairman has expressed total commitment to upholding and entrenching the tenets of accountability, fighting corruption from the vantage of prevention as well as a level playing opportunities for all staff of the commission.

In the area of robust staff welfare packages, the new sheriff seems to understand the Mathew Effect, where success begets further success. This strategy requires visionary leadership and unwavering commitment to motivating staff in the discharge of their duties that can revolutionize the trajectory of the fight against corruption. The Mathew effect was first coined by sociologist Robert K Merton in 1968. It reveals that initial success creates greater heights. With this, the EFCC staff will be sufficiently motivated to do their jobs with utmost contentment.

Going by Olukoyede’s agenda in repositioning the agency, his leadership style will be strategic, focused and empirically profitable for everybody in the Nigerian public space.

It is now crystal clear that truly, the fight against financial crimes has seen a breath of fresh air with a helmsman whose determination is already pointed towards the overall good of the nation.

However, as lofty as these reforms will transform the commission, it is instructive to note that some of the far-reaching agenda Olukoyede has set for himself will lead to stepping on many toes of the political class and the politically exposed people (PEP). It will therefore be a disservice for Nigerians to shy away from taking ownership of this national crusade and support the leadership of the new EFCC that will be result-oriented in achieving the set agenda.

Tersoo, a critique and public affairs analyst can be reached via [email protected].