Olukoyede Cautions Public Officials against Fraudulent Practices
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede, on Thursday, July 30, 2026, cautioned public officials across the country against fraudulent practices, stressing that public service is a responsibility to protect public resources rather than an opportunity for self-enrichment and compromises.
He gave the caution in Abuja on Wednesday, July 30, 2026 while speaking at a two-day induction programme organised by the Bureau of Public Service Reforms.
The programme, themed “Institutional Governance and Regulatory Compliance,” was organised for CEO, Chairman and Members of the Governing Board of South-South Development Commission, SSDC.
Speaking on “The Role of Economic and Financial Crimes Commission, EFCC, in Improving Accountability in the Public Service,” the EFCC’s boss said accountability required that public resources be managed ethically, efficiently and in the best interest of citizens. He, however, noted that corruption has continued to frustrate prudent management of government resources in Nigeria.
“Annual losses to corruption in Nigeria’s Public Service run into billions of naira as resources for the provision of physical infrastructure and social services are often converted to private use by public servants”, he said.
Olukoyede identified common forms of corruption in the public service to include outright stealing from the treasury, diversion of public funds, bribery and kickbacks, misappropriation of funds, procurement and contract fraud, payroll and pension fraud, as well as duty tour allowance fraud.
Drawing from his experience in regulatory compliance, he described contract fraud as the most prevalent form of corruption in the public sector. “From my experience in regulatory compliance, by far the most common form of corruption within the public service space is contract fraud, where those who lead government establishments set out to enrich themselves by rigging the procurement process.”
According to him, contract fraud often manifests through contract splitting to evade approval limits, bid manipulation in favour of preferred contractors or entities in which public officials have interests, the award of contracts to unqualified companies, and payments for poorly executed or unexecuted contracts.
Recalling the rationale for the establishment of the EFCC, Olukoyede said the Commission came to life in 2003 owing to the need to combat corruption as well as economic and financial crimes in both the public and private sectors through investigations, prosecutions, asset recovery and public education.
He pointed at limited resources and manpower, inadequate public support, widespread cynicism, delays in prosecuting high-profile corruption cases, and persistent but largely unsubstantiated allegations of selective investigations, as some of the challenges confronting the anti-corruption fight.
Addressing participants directly, the anti-graft czar urged them to resist the temptation of viewing their appointments as opportunities to enrich themselves. “I imagine that you all have been receiving tons of congratulatory messages on your appointment, and those close to you would have reminded you that this is an opportunity to grab a slice of the proverbial national cake. Please, tread with caution. Public service is not an invitation to loot the treasury.”
He advised the officials to familiarise themselves with the Financial Regulations, Public Service Rules and the Procurement Act, ensuring strict compliance with all extant regulations to avoid investigations and prosecution for corruption-related offences.
Olukoyede further warned them against engaging in businesses incompatible with public office, operating foreign bank accounts, seeking contracts from the institutions they serve either directly or through proxies, and conducting financial transactions outside recognised financial institutions.
“As a member of the SSDC, familiarise yourself with the Procurement Act and be guided. You should not be jostling for contracts from the SSDC either directly or through fronts,” he said. He also encouraged the officials to maintain proper records of all financial transactions and exercise caution before endorsing official documents. “Before you sign that document, study it. Your signature is your name and integrity. Guard it,” he said.
