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The Task Before The New EFCC Chairman

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The Task Before The New EFCC

By Samuel Adeyinka

On Thursday, 12th November 2023, President Bola Tinubu approved the appointment of Mr. Ola Olukoyede as the Executive Chairman of the Economic and Financial Crimes Commission, EFCC for a renewable term of four years.

The announcement which has also been confirmed by the Red Chamber came barely four months after the resignation of the former Chairman of the Commission, Mr Abdulrasheed Bawa, who is still under interrogation with the Department of State Service over allegations of abuse of office.

In 2020, Ibrahim Magu, a Senior Police officer was disengaged from the position of Executive Chairman of EFCC over similar allegations ranging from insubordination to constituted Authorities, alleged re-looting of recovered loots, sales of seized assets to cronies, associates and friends and alleged favoritism for juicy assignments.

It is no longer news that the Economic and Financial Crimes Commission that was set up by the Former President Olusegun Obasanjo in 2003 to fight and prosecute money launders especially those embezzling public funds had over the years been seen by Nigerians differently.

While others see the Commission as been capable and result oriented, others see it as an organisation that lacks competent leadership to deliver on its mandates, thereby making some Nigerians to lose hope in the anti-corruption crusade of successive governments.

The functions of the EFCC which includes investigation of all financial crimes such as advanced fee fraud, money laundering, counterfeiting, illegal fund transfers, future market frauds and contract scams also coordinated and enforced all economic and financial crimes on some Nigerians.

Though the Commission had tried in its capacity, the battle against corruption has not been achieved as the country is still rated one hundred and forty out of one hundred and eighty Countries of the most corrupt nations in the world, according to the 2022 Corruption) Perception index by Transparency International.

It is worrisome therefore, that the Anti-graft agency had over the years been facing leadership challenges as some of its previous heads either ended up with allegations of misconducts and even bribery.

This is why it is imperative for the newly appointed Executive Chairman of EFCC, Mr Ola Olukoyede to take the bull by the horns and justify the confidence Nigerians responsed in him to hit the ground running against bribery and corruption that have pervaded almost every sector of the society.

Olukoyede with over 22 years of experience as a regulatory compliance consultant and specialist in fraud management and corporate intelligence, should lead by example, remain neutral and detribalized in the fight against corruption.

He should ensure speedy prosecution of offenders and recovery of stolen Assets.

The New EFCC Executive Chairman should be mindful of saboteurs mostly within and outside the system whose primary goal is to ensure the total collapse of institutions in their favour.

Mr Olukoyede should also remember that a person living in a glass house should not only throw stones but must not be seen playing with stones.

Edited By Grace Namiji

Written by: Salihu Tejumola

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