EFCC Chair Demands Unexplained Wealth Law to Combat Corruption
Enet
The head of Nigeria's anti-graft agency is urging lawmakers to pass a crucial bill. Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), recently called on the National Assembly to criminalize unexplained wealth. He believes this law is vital for Nigeria's fight against corruption.
Speaking on Wednesday, July 9, at the National Conference on Public Accounts and Fiscal Governance in Abuja, Olukoyede stressed that Nigeria cannot effectively curb corruption without the power to question and seize assets that clearly exceed a public officer's legitimate income.
He revealed that ongoing investigations, particularly in the oil and gas sector, have uncovered mind-boggling findings. "We have only just opened the books. If this is what we’re seeing at the surface, imagine what lies beneath," he remarked, linking public sector corruption to Nigeria's economic and security challenges.
He specifically connected fiscal mismanagement to widespread instability, including banditry, kidnapping, and terrorism.
Olukoyede explained that current laws often hinder EFCC investigations, requiring proof of a specific crime like theft or fraud before assets can be seized or individuals prosecuted. He passionately appealed for the passage of the Unexplained Wealth Bill, which was rejected by the previous Assembly. "If we don’t make individuals accountable for what they have, we’ll never get it right," he asserted, citing examples of civil servants with modest incomes owning multiple luxury properties.
