Common to corruption are bribery, embezzlement, fraud, money laundering and extortion, which occurs when gain or an advantage is acquired by persons in positions of trust through dishonest, unfair or sordid schemes. Corruption by whatever means is destructive to people and their governance institutions, especially if such are financial and economic crimes. Graft, is said to be the worst form of corruption because it undermines institutional and process integrities. It wrecks the sanity of systems and overthrows the foundations of a fair and just society driven by law and order, and ultimately turning society on its head into a jungle where might, whether financial or physical, reign supreme.
This is the danger that the Economic And Financial Crimes Commission (Establishment) Act of 2002 (renewed, 2004), was designed to curb or possibly eliminate.
The Act commissions the Economic And Financial Crimes Commission (EFCC) to combat economic and financial crimes through preventing, investigating, prosecuting and penalizing economic and financial crimes. Indeed, such crimes are the non-violent criminal and illicit activities committed by individuals or organized groups, with the objective of illegally cornering wealth, which violates existing laws, such as the Money Laundering (Prohibition) Act, 2011 as amended; the Advance Fee Fraud (and other fraud-Related Offences) Act, 2006; the Failed Banks (Recovery of Debts) and Financial Malpractices in Banks ACT, 1994 as amended; the Banks and Other Financial Institutions Act, 2020; Miscellaneous Offences Act, 1983; and other relevant provisions of the Criminal, and Penal Codes, etc.
In mobilising into action, the EFCC envisioned a Nigeria that is free of economic and financial crimes, and undertook the mission of eradicating economic and financial crimes through preventive, enforcement and coordinating operations. The Commission in its eagle-eyed vision of accomplishing its mission, has brought upon its activities, the core values of integrity, professionalism, courage, and collaboration, the enforcement of which have long been weaved into some sets of Strategic Plans, the current being the 2021 – 2025 Strategic Plan, which has the strategic objectives of increasing public engagement in the fight against economic and financial crimes; improving systems and processes for the prevention of economic and financial crimes; improving intelligence-driven investigation, prosecution, and asset recovery and management; improving law enforcement coordination and collaboration with relevant stakeholders; and enhancing institutional capacity and human capital development. It is important to point out that these strategic objectives perfectly align with the ‘National Anti- Corruption Strategy’ (NACS).
From Mallam Nuhu Ribadu, the pioneer Executive Chairman (2003 – 2007) to Mrs Farida Waziri, Executive Chairman (2008 – 2011); Ibrahim Lamorde, Executive Chairman (2012 – 2015); Ibrahim Magu, Acting Chairman (2015 – 2020); Mohammed Umar Abba, Acting Chairman (2020 – 2021); Abdulrasheed Bawa, Executive Chairman (2021 – 2023); and to Abdulkarim Chukkol, Acting Chairman (2023), the Commission carved out a niche in the psyche of political office holders in Nigeria as a financial and economic crimes investigation and prosecution Agency to be dreaded.
Then came Mr Ola Olukoyede, the incumbent Executive Chairman of the Commission, who as a game-changer has tirelessly upscaled and expanded the operations of the Agency, and transformed the fortunes of the Commission into a more-dreaded and top-notch financial and economic crimes-bursting Organisation with numerous global recognitions and commendations. It is very remarkable that the widely acclaimed achievements of the EFCC under Mr Ola Olukoyede are happening within a short period of less than a year of his engagement. A recent public appraisal of certain parameters of the EFCC’s operations affirmed the unprecedented and innovative achievements of the Commission under Olukoyede, who has come to be popularly known as the Graft Tamer, owing to his fervent and innovative taming of graft.
Asset Recovery
Records in the public domain show that within one year of President Bola Ahmed Tinubu’s Administration, the EFCC has recorded 3125 convictions, thereby recovering over N231.6billion, and various huge sums in foreign currencies such as over $70m; £29,000; €208,000; ¥754,000; R35,000, amongst others. These recoveries appear unprecedented at any comparative operational period of the Commission, and together with subsequent hauls, are the result of investigations conducted into 12,287 cases from the 15,753 petitions received by the Commission, leading to 5,376 prosecutions, and the securing of 3,451 convictions.
Offensive Against Cybercrimes
It is common knowledge that no week passes without reports of the Commission swooping on and arresting hundreds of cyber scammers all over the Country, most of whom end up being convicts and surrenderers of assets that were fraudulently obtained. This has been unprecedented and gradually restoring the confidence of the international community in Nigeria.
Public Enlightenment and Sensitization
Olukoyode has driven this preventive mission to heights, sectors and areas never thought of before his coming. According to the Commission, “One such public enlightenment initiative was the cybercrime dialogue that was held on January 31, 2024 in Abuja, and which brought together religious leaders, traditional rulers, Vice Chancellors, Provosts and Rectors of higher institutions as well as youth leaders to discuss the alternatives to cybercrime.” The ‘Zero Tolerance’ campaign programme of the Commission in the tertiary educational institutions which touches the center and heart of cyber crime in Nigeria, is geared towards reorienting the base population of our future-leaderships.
The EFCC’s cartoons in popular media are aimed at exposing the dangers and activities of Wonder Banks, Petroleum-deal scammers, romance scammers; or warning against political-office looters, local purchase order scammers, little-black-paper duping, impersonations, oil bunkering; and encouraging whistle-blowing, and voting the right-persons into office. The constant sensitisation of the National Youth Service Corp (NYSC) members is also designed to reposition our prospective public and private sector office holders. Strategically, the Commission’s Special Coordinating Unit Against Money Laundering (SCUML) has recently been reinvigorated into reaching out to the critical Stakeholders like the Tertiary Education Trust Fund (TETFUND), Non Governmental Organisations (NGOs), and others alike, on the dangers of money laundering and related crimes.
The most recent public enlightenment campaign was the Sensitisation Workshop held on Monday, 7 October, 2024 between the EFCC and the National Judicial Institute (NJI) to build synergy between the Commission and Judicial Officers in the Country. The Workshop which had Mr President, as represented by the Vice President, H E Kashim Shettima, the Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, and the former Secretary General of the Commonwealth, Chief Emeka Anyaoku as key Speakers harped on the need for Judges to cooperate in the fight against corruption by shunning frivolous applications, many of which have reportedly restricted the EFCC from carrying out investigations in 10 States of the Federation.
These efforts are sustainable legacies from the uncommon leadership of our Anti-Corruption Czar, Mr Ola Olukoyede.
Arrest, Prosecution and hunting of Corrupt Politicians
Remarkably different in operational tactics is the resort to the dictates of the rule of law in dealing with politically exposed persons. The EFCC has received accolades for the professional handling of the recent cases of Ex-Govs Willie Obiano of Anambra State, Abdulfatah Ahmed of Kwara State, Darius Ishaku of Taraba State; Olu Agunloye, a former Minister of Power; Mamman Saleh, a former Minister of Power; Hadi Sirika, a former Minister of Aviation; Charles Ugwu, a former Minister of Industry; Godwin Emefiele, a former Governor of the Central Bank of Nigeria (CBN); and the fugitive Yahaya Bello, Ex-Governor of Kogi State, who has been evading arrest, arraignment and prosecution over alleged money laundering involving over N110.4billion Kogi State funds. The calm and matured mien deployed by Mr Olukoyede in responding to many provocative actions of wanted corrupt politicians and other public officials, speaks positively of a man well cut out to lead a world-respected EFCC.
Collaboration with Foreign Law Enforcement Agencies
In repositioning the EFCC to command global attention and friendship, Mr Olukoyede looked beyond Nigeria’s borders to strengthen crime-bursting partnerships with the Law Enforcement Agencies of many Countries. Notable among the collaborations is the United States Federal Bureau of Investigation (FBI), whose Director, Christopher Asher Wray (an Attorney), reportedly lauded the EFCC when he said, “Thank you for your hospitality and in particular for the partnership that exists between the FBI and the EFCC across a wide range of threats that we face together. We have had a relationship over the years and this is a reflection of how stronger than ever we are looking forward to taking our partnership to higher and higher levels in tackling threats that affect the people of Nigeria and the people of the United States. We have had close partnerships in shared values and focus and I want to say thank you for the wonderful partnership.” It must be emphasized that this visit to the EFCC by the FBI Director was the first in the entire history of the Commission, which may not have been possible but for the factor of Mr Ola Olukoyede. In the recent past, it was reported that Olukoyede had on Friday, 20 September, 2024 handed over to the Spanish Ambassador to Nigeria, His Excellency, Juan Ignacio Sell, the sum of €5,100, being proceeds of romance fraud recovered by the EFCC in conjunction with the Spanish Police.
On the same date, Olukoyede handed over to the Royal Canadian Mounted Police, the sum of $180,300 and 53 exotic vehicles fraudulently obtained by some Nigerian fraudsters from certain citizens of Canada. These are eloquent testimonies of the high level of confidence the EFCC under the Graft Tamer has sold to the world, thus concretising the Renewed Hope Agenda of the President Bola Ahmed Tinubu’s Administration.
Enhancing Education, and Stimulating Economic Growth
With the approval of the National Assembly, President Bola Ahmed Tinubu directed Olukoyede’s EFCC to release the staggering sum of N100billion from its recovered assets for the Take-off grants of both the Nigerian Education Loan Fund (NELFund), and the Consumer Credit Corporation (CCC), with each Establishment getting N50b apiece. This release to the NELFund has seen over 22,000 Nigerian Students, whose education would have otherwise been hindered, obtaining loans to progress their studies, and this is currently stabilizing and enhancing tertiary education in the Country.
In a recent publication of the Commission, it was stated that “By investing in education through NELFUND, the government is tackling the root causes of crime while empowering the next generation of Nigerians.”
“This approach is not just about safeguarding the funds but also about reinforcing public trust in the government’s anti-corruption efforts. By demonstrating that recovered assets are being put to good use, the EFCC and the government are sending a powerful message: the fight against corruption is not just about punishing wrongdoers but also about returning stolen wealth to the people and using it to build a better future.”
While commending the Government, and Mr Olukoyede, the NELFund Managing Director/ CEO, Akintunde Sawyerr, reportedly said that “This approach is a testament to the power of good governance and a reminder that the fight against corruption, when combined with a commitment to public welfare, can yield dividends far beyond the courtroom. It is a new chapter in Nigeria’s story — one where justice and development go hand in hand, and where the proceeds of crime are transformed into opportunities for growth, education, and a brighter future for all.”
In stimulating economic growth, the injection of N50billion through the Consumer Credit Corporation (CCC) has continued to make positive economic impact beyond imagination. According to the EFCC, “This move is not just about recovering stolen wealth but also about ensuring that these funds serve a greater purpose – uplifting the lives of people and driving economic growth.”
The Commission also had cause to state that “The allocation of N100bn from recovered funds to fund these important initiatives sets a precedent for (on) how Nigeria can use the proceeds of crime to benefit its citizens. This approach aligns with global best practices, where recovered assets are reinvested into society to address the root causes of crime, improve public services, and support vulnerable populations.”
This pro-people initiative, though attributable to the great vision of Mr President, was largely supported by the hardworking and innovative-thinking Olukoyede, who also orchestrated and sustained the campaign against the abuse of the Naira Note, leading to the recent arrest and prosecution of some celebrities. Consequently, incidences of spraying and stamping on the Naira Notes have reduced across the Country, thereby giving respect and better value to the Nigerian currency.
Also complimentary to Mr Olukoyede’s EFCC is the fact that the Commission would effectively remain a revenue generating Agency for the Government.
Awards
The Czar of the EFCC, Mr Ola Olukoyede has garnered a number of local and international awards in recognition of his sterling achievements while in office. Among these are the ‘Bar Presidential Award (bpa)’ conferred by the President of the Nigerian Bar Association (NBA) on 26 August, 2024. According to the NBA, the distinguished award “is in recognition of your outstanding achievements as a legal Practitioner and for your contributions to the growth/development of the legal profession in Nigeria.”
On Wednesday, 3 July, 2024, Mr Olukoyede received the ‘Man of Valour’ “winner and Torchlight” awards from the ‘Global Peace Movement International (GPMI)’. Similarly, Olukoyede remains the only Anti-Corruption Marshall in the Country honoured with the Anti-Graft Accountability Award by TBS, for his exceptional delivery in public service. The award was presented to him by the Vice President, His Excellency Kashim Shettima at the State House Conference Center Abuja on Saturday, 6 July, 2024. The award which was made in conjunction with the office of the Secretary to the Government of the Federation (SGF) had the Managing Partner and Founder of the Nigeria Excellence Awards in Public Service, Mariam Mohammed say that Olukoyede was honoured for “significantly improving public service delivery, courageously undertaking risks to drive positive change, advocating for a more democratic society, championing social equity, effectively reforming governmental institutions, achieving substantial cost savings in government operations and developing a cadre of influential government leaders.”
Who is Ola Olukoyede ? The Graft Tamer is a passionate reformist, who has reformed the internal operations of the Commission for efficiency and zero tolerance of any form of corrupt practices among the Commission’s Staff. He has invested heavily on Staff training and welfare, and upgraded the Zonal Commands to Directorates, with Directors appointed to oversee the Directorates; a move that has improved operations across all the Geopolitical Zones in the Country. Upon assuming office, he had declared his assets and directed all personnel of the Commission to likewise do the same. Olukoyede has banned the weaponisation of bail conditions, and reviewed the modalities for sting operations. It is therefore interesting to know that Olukoyede hails from Ikere-Ekiti, in Ekiti State, and was appointed into office on 12 October, 2023. He is a Pastor, and an alumnus of Harvard University, Lagos State University and University of Lagos. He is by training a Lawyer, who specializes in the practice of Compliance, Corporate Intelligence, and Fraud Management. He is also a member of the Fraud Advisory Panel, United Kingdom, and was the Secretary to the EFCC from 2018 to 2020. Here therefore is our Anti-Corruption Czar, who has been a gift to Nigeria, and the international community at large.
Barr Ozegbe Ogokuni writes from Abbi, Delta State.
