By Law Ibitoye
The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has disclosed that the commission secured 10,872 convictions and recovered monetary assets worth over N1.238 trillion in the last three years, urging Nigerians to embrace integrity, accountability, and transparency in their daily living
Olukoyede disclosed this on Thursday while delivering a public lecture titled “Integrity, Accountability and the Fight Against Economic and Financial Crimes: Building a Culture of Transparency and Responsibility in Nigeria” at the Bamidele Olumilua University of Education, Science and Technology (BOUESTI), Ikere-Ekiti, Ekiti State.
The Guest Lecturer said Nigeria’s development challenges were largely connected to corruption, poor accountability, and the diversion of public resources for personal gains.
The EFCC chairman identified embezzlement, abuse of office, money laundering, procurement fraud, cybercrime, illicit financial flows, and misappropriation of public funds as some of the practices undermining the country’s development. He argued that public resources meant for infrastructure and essential services were often diverted by corrupt officials, thereby worsening poverty and weakening public trust in government institutions.
He cited the convictions of former Minister of Power, Saleh Mamman, over the Zungeru and Mambilla power projects, and former Acting Accountant-General of the Federation, Chukwuyere Nwabuoku, as examples of the consequences of public-sector corruption.
Olukoyede said the EFCC was strengthening its preventive approach through its Fraud Risk Assessment and Control Department, which identifies weaknesses in government institutions and monitors public expenditure to reduce opportunities for financial crimes.
Addressing students, the EFCC chairman warned against cybercrime, identity theft, romance scams, cryptocurrency fraud, and other internet-enabled offenses, saying university education should not be used as a cover for criminal activities.
He urged young Nigerians to pursue legitimate opportunities, noting that over N322 billion had been disbursed to more than 1.6 million students through the student loan scheme, while the commission was also developing a Cybercrime Research Centre to promote research, training, and youth capacity building.
Olukoyede further calls on families, schools, religious institutions, traditional rulers, and professional bodies to promote ethical conduct, stressing that the fight against corruption could not be won through investigation and prosecution alone. He said the EFCC had also strengthened internal accountability by requiring personnel to declare their assets and enforcing policies on gifts, conflicts of interest, and professional conduct.
Olukoyede urges the grandate and other members of the university community to make integrity a personal commitment, maintaining that a culture of honesty and accountability was essential to building a transparent society and transforming Nigeria
Earlier,the vice chancellor, Professor Babatunde Andrew Omojola, highlighted the importance of integrity and responsible leadership in national development, applauded the activities of the EFCC chairman, saying he has given Nigeria a good image.
The Vice Chancellor called all the graduating students to use the knowledge they acquired to proffer solutions to mirage of challenges facing Nigeria, Urging them to be worthy ambassadors of the institution.
In his welcome address, the Dean of the Faculty of Engineering, Engr. Dr. S.A. Akinola, described the lecture as an important occasion for the university and the engineering profession. He said the faculty’s activities were built around knowledge, responsibility, and partnership, adding that the engagement would encourage students to appreciate the importance of ethical conduct in their academic and professional lives.
The event featured the induction of forty five graduating students of the Engineering Department which formed part of the university’s efforts to connect academic learning with contemporary national issues and professional responsibilities.
DIgnitaries at the event include : EFCC team, the Ogoga of Ikere Ekiti, Oba Adejimi Adu and the Ogoga in Council among others.