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Redefining war against financial graft in Nigeria

Redefining war against financial graft in Nigeria
November 24
23:58 2023

BY TERSOO ADAGHER

Whoever must have advised President Bola Ahmed Tinubu to appoint Ola Olukoyede as the chairman Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC) has offered one of the generational and patriotic services to our dear country. The new EFCC czar has brought on board courage, fecundity of fresh ideas, vision and clear-cut focus to pilot the affairs of the agency.

For those who have been following the transformative vision and agenda setting of the new chairman since his appointment and confirmation by the senate, conscious and determined reforms are beginning to manifest in the operational landscape of the commission.

From operational protocol to general administration, all have taken a new narrative, aimed at repositioning the anti-corruption commission to deliver its mandate as enshrined in the act establishing it.

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In his quest to drive home his reforms for all stakeholders and the staff to key into the new agenda, Olukoyede has anchored his blueprint from the mantra of ‘Prevention’ which is the bedrock of his agenda in the fight against financial crimes.

In a demonstration of his bold reforms, he recently re-echoed this while addressing officers and men of the commission at the Lagos zonal command that the new maxim in the fight against graft is prevention.

He buttressed that the anti-corruption fight must be premised on initiative and modalities capable of stimulating economic growth and development, which he stressed is the prevention of financial crimes.

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It therefore means that the EFCC under Olukoyede will deplore its arsenals primarily in the prevention of financial crimes. Unarguably, the tempo and consistency of his message are crystal clear; new thinking, courage, foresightedness and a visionary approach which epitomise prevention as the hallmark of the fight against graft in the country.

The new vista will engender ease of doing business and encourage a robust investment for local and foreign investors, and in turn, yield higher reputational capital for Nigeria.

Moreso, the paradigm shift has also encapsulated robust welfare packages for the staff as a top priority in the scheme of reforms currently being introduced in EFCC. But beyond these reforms and commendable staff packages are the amazing new narratives that are geared towards institutionalising the protocols and procedural operational tenets that are in tandem with global practices.

The conceptualisation of these reforms will birth standard operating procedures, thereby putting the agency shoulder-to-shoulder amongst its contemporaries in the world.

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This way, compromise, violation of core values, and abuses in the operation of EFCC operations will be eliminated, leading to confidence building and trust among partners across the globe and the Nigerian public. The reality is that Olukoyede has brought in new ideas which were painstakingly tailored to accelerate the fight against graft.

The onus now lies with Nigerians and international partners to avail all necessary support to the new EFCC boss who has come up with a new framework.

Olukoyede has demonstrated these impressive reforms by directing all staff of the commission to, as a matter of policy, declare their assets which are in line with civil service procedures and regulations. This show of courage and accountability bears striking resonance with the maxim that charity begins at home.

This internal cleansing is a demonstration of his resolve to ensure everyone is on the same page in the fight against graft. All these reforms being carried out by the current EFCC chairman will aid in the growth of the economy of the nation, and create the enabling and rightful environment to enhance investment and strengthen the productive base of the Nigerian economy.

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At this juncture, it behooves on all well meaning Nigerians to lend their support towards this patriotic cause.


Tersoo, a critic and public affairs analyst, can be reached via: [email protected]

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