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ABUJA, Nigeria (NAN)- Following a comprehensive examination of graft cases over the years, the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has emphasized that corruption in the public sector is the most significant challenge facing the country, with procurement and contract fraud constituting 90 percent of Nigeria's corruption and fraud problems.
Olukoyede noted that addressing the rates of contract and procurement fraud could significantly alleviate issues such as inadequate infrastructure across Nigeria.
He made this statement on Friday during a meeting with a delegation from the Bureau of Public Procurement (BPP), led by its newly-appointed Director General, Dr. Adebowale Adedokun, at the EFCC's corporate headquarters in Abuja.
The head of the anti-graft agency further stressed the importance of improved collaboration between the EFCC and the BPP in various areas, particularly in project implementation and oversight.
"In the EFCC, we deal with both private and public sector fraud. When it comes to the public sector, which is one of our major challenges in Nigeria, we found that contract and procurement fraud accounts for over 90 percent of public sector fraud. These issues include commingling, contract splitting, and various forms of misconduct.
"The challenges related to infrastructure and other developmental issues stem from contract and procurement fraud. It is up to us to initiate change. If we collaborate, we can leave this country in a better state than we found it.
"I appreciate your commitment and the new energy you have brought to the agency. We will work together for the benefit of this country and to ensure the effective implementation of the 2025 budget. There will be no hiding place for the BPP, nor will there be any evasion from the EFCC. That is the reality."
Earlier, Adedokun stated that the purpose of the visit was to assure the EFCC and Nigerians that the Bureau, under his leadership, is committed to a transformation.
"We are here to reassure you and your team that we are dedicated to facilitating your work. We want to give the 220 million Nigerians peace of mind regarding procurement processes. Our goal is for the EFCC to trust our documents without any reservations.
We aim to provide documents that you can rely on for decision-making and investigations related to fraud and procurement. We are here to demonstrate transparency in our operations and to assure Nigerians that it is no longer business as usual. We have already begun this process," he stated.
He also expressed his commitment to utilizing procurement as a means to achieve good governance in the country.
"I want to explore how procurement can be leveraged to provide good governance to Nigerians. I want to assure Nigerians that every kobo spent on goods, works, and services is done with value in mind. While we may have made mistakes in the past, we believe we are now on a path of renewal in many aspects."
