Olukoyede Tasks New Federal Agency Leaders on Transparency, Accountability

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede, has charged newly appointed Chief Executive Officers, Chairmen and Members of Governing Boards of Federal Parastatals, Commissions and  Agencies to embrace transparency, accountability and good governance in the discharge of their duties. 

Olukoyede gave the charge in Abuja on Thursday, July 31, 2025, while delivering a paper titled, “The Role of the EFCC in Improving Accountability in Public Service” at the induction programme for the new appointees. 

He described public service as a call to serve for the common good rather than an avenue for personal enrichment. “Public service denotes actions and roles geared towards serving the people. It is about ministering to the needs of the public and working for their benefit rather than personal gain,” he said. 

The Chairman reminded the participants that the Nigerian public service is guided by codes of conduct, public service rules and financial regulations designed to promote integrity. According to him, “The importance of transparency and accountability cannot be overemphasized. It must remain at the core of your operations. Without these values, it will be difficult to deliver meaningful impact and make the public service effective.” 

The EFCC boss decried the mismanagement of public resources by some public office holders, stressing that it has far-reaching implications for national development. He linked corruption in the public sector to widespread poverty, deteriorating infrastructure, and persistent insecurity across the country. 

He recalled his remarks during his Senate confirmation, where he presented an analysis of Nigeria’s losses to financial crimes and public sector corruption between 2018 and 2020. “I told the Senate that Nigeria lost about ?2.9 trillion through public procurement fraud. These were contracts that were either not executed, partially executed, or awarded without due process,” he said. 

According to him, if such funds had been applied to development, Nigeria could have constructed 1,000 kilometres of road, built 200 tertiary institutions, trained 6,000 students from primary to university level at ?16 million each, delivered 20,000 units of three-bedroom houses  and established world-class teaching hospitals across the federation. 

“Every step you take, every decision you make, every action you take affects lives, either positively or negatively. By that single act of corruption, 600 children could not go to school, roads remain unfixed, and hospitals remain in poor condition,” he said. 

Olukoyede urged the appointees to scrutinize all processes within their agencies and ensure strict compliance with extant regulations. He advised them to consult experts or anti-corruption agencies for guidance in order to avoid the pitfalls that have trapped many public officers in the past.

He emphasized that the EFCC remains committed to supporting public officers in upholding accountability, adding that the Commission’s intervention is not only punitive but also preventive.

Other speakers at the event include,  Secretary to the Government of the Federation, Senator George Akume, Minister of Budget and Economic Planning, Atiku Bagudu, Director-General of Bureau of Public Service Reforms, Dr. Dasuki Ibrahim Arabi, Head of Civil Service of the Federation, Didi Esther Walson-Jack and the House Committee Chairman on Public Service Reforms, Sani Bala.