Nigeria running a system that allows fraud to flourish – EFCC

Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has stated that the country is currently running a system that allows fraud to flourish.

The EFCC boss, who made the declaration in Abuja when a delegation of the management staff of the Niger Delta Development Commission (NDDC), led by its MD/CEO, Chief Samuel Ogbuku, paid him a courtesy visit, disclosed that the same Nigerians who are corrupt behave themselves when taken to another environment.

He stated: “I am proud to be a Nigerian. The only problem that we have is the system that we run—a system that allows fraud to flourish.

“But if you take the same Nigerian who is corrupt in our system to an environment with strict regulatory compliance and structures, you will discover that he will behave.”

According to him, the enthronement of transparency and accountability in the conduct of affairs in the country is achievable, and he expressed support for the change currently happening in the NDDC.

He added, “The five minutes of interaction with the MD left me with a different perception of the NDDC.”

Olukoyede used the occasion to urge all public officeholders to uphold probity, transparency, and accountability in the management of the finances they hold in trust for the public, knowing that a day of reckoning would surely come.

“Always have it in the back of your mind that while you are on this side today, you might be on the other side tomorrow. Let it be the guiding principle of those in positions of trust in everything they do. That has always been my own guiding principle because you will not be there forever.

“You can protect certain things today, but if you leave, you will discover the person closest to you, maybe someone who benefited from you, would be the one to come and expose you, so let us be guided in all that we do going forward,” he said.

He further stressed that the challenge of corruption demands that only leaders with high morals should hold positions of trust. “Fundamentally, Nigerians are good people, and I say this anywhere I go.”

Olukoyede assured that the EFCC would continue to ply its job with unwavering determination and courage.

“On our part in the EFCC, we are resolute and not going to compromise.

“We have been called names and maligned, but we are resolute. We are moving forward because somebody has to do this job, and we will do it and deliver.

“I told the entire Nigerians upon my assumption of office that we are going to use the instrumentality of the anti-corruption fight to build the economy. We are going to use the instrumentality of our work to build the economy and to ensure good governance as well,” he said.

Ogbuku disclosed that the visit was in appreciation of the EFCC for the recoveries it has made on behalf of the NDDC, which he said has helped in developing the Delta region and in lifting the Commission.

“We want, as a management, to thank the EFCC for supporting the NDDC to make the recoveries that have helped the region and the Commission.

“Mr. Chairman, this is to let you know that the NDDC is investing the recoveries in projects, and at a point, we will invite the EFCC to come join us in commissioning some of those projects. It will be a sign that the recoveries made by the EFCC are used to support the development of the Niger Delta.”

Furthermore, he disclosed that apart from saying thank you, “we also came to let you know what the NDDC has been doing so far.”

“We inherited the NDDC the way it has been. Many people had a very dark impression of the NDDC, but we thought that we should look forward and not backward and came up with the policy of rebirthing to rewind because we just have to go back a little to see where we started and what we needed to do in the future.

“We went back to our books, interacted with previous managements to know where things went wrong. One of the areas that we have to rebirth the NDDC was in the area of transparency,” he said.

He further sued for enhanced collaboration between NDDC and EFCC, saying:“We believe that further collaboration with the EFCC in the area of technical support will further strengthen us as a Commission and guide us in our operations.

“I also want to use this opportunity to plead with Mr. Chairman that before our corporate governance performances and SOP (Standard Operating Procedure) are passed, you should delegate some of your officers to look at the documents and probably make your input in areas where you think you can further contribute to strengthening us as an organisation because they are something new to us.

“At least you can input on policies that will suit your operations with our operations and support us in that area as part of our partnership.

“We also plead for further technical support in the area of training our finance staff in financial management because we realise that most of our staff have not been doing well in the area of managing their finances.”

In response to the requests, Olukoyede assured him of the EFCC’s readiness for assistance and working relationship towards helping the NDDC achieve its mandate. “We have been working with you to do recoveries and all of that; we will continue to do more.

“The collaboration is something we need to take to the next level, and with what you have put on the table, I think we are ready to work with you to strengthen your systems and processes and to take the NDDC to the next level,” he said.