As part of the efforts to tackle vandalism of power infrastructure and energy theft, the Ministry of Power and the Economic and Financial Crimes Commission (EFCC) have agreed to collaborate on fraud risk assessment, as Nigeria loses billions of naira annually to the menace.

Speaking in Abuja yesterday during a courtesy visit to the commission, the Minister of Power, Joseph Tegbe, requested the intervention of the EFCC Chairman, Ola Olukoyede. He stressed that vandalism and the widespread energy theft were undermining the development of the electricity sector, but that the ministry lacks the statutory powers to prosecute offenders.

Decrying the rate of vandalism across the country, Tegbe also cited the theft of manhole covers and other valuable infrastructure components, saying the situation had become a major concern to the federal government.

Therefore, “the president has charged us to create awareness and also prosecute people stealing or buying (the proceeds), but we do not have the power to prosecute offenders. We can only report to you,” he stated.

“They can be arrested and prosecuted. We believe the commission can help us in that area. We need to collaborate.”

Tegbe further identified energy theft as the second major area requiring EFCC intervention, alleging that some companies with access to electricity deliberately fail to pay their bills. According to him, the second area is energy theft, as Nigeria loses billions annually.

Meanwhile, he commended Olukoyede for what he described as his achievements in investigating and prosecuting economic and financial crimes and recovering proceeds of crime, describing his approach as “bold and ambitious.”

Responding, Olukoyede described vandalism and energy theft as forms of revenue fraud and “major concerns and acts of economic sabotage.”

He pledged the commission’s support for the ministry, assuring that the EFCC would work with the ministry to introduce fraud risk assessment and control mechanisms across its projects, including abandoned and newly initiated projects.

“We are ready to work with you, particularly in the area of incorporating fraud risk assessment and control to all your projects, both the abandoned ones and the new ones coming up,” he said.

He also stressed the need for preventive measures rather than waiting until funds were misappropriated.