The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has identified procurement and contract fraud as the biggest contributors to Nigeria’s corruption woes. Speaking during a strategic meeting with the Director-General of the Bureau of Public Procurement (BPP), Adebowale Adedokun, Olukoyede disclosed that such fraudulent activities account for 90% of corruption cases in the public sector.
“At the EFCC, we address corruption in both the private and public sectors. However, the public sector presents the most significant challenges for Nigeria. A staggering 90% of corruption cases involve contract and procurement fraud,” Olukoyede revealed.
He elaborated on the various fraudulent practices, including contract splitting, commingling of funds, and other manipulative schemes that undermine transparency. According to the EFCC chairman, these practices have severely hampered Nigeria’s development, particularly in infrastructure and public service delivery.
“Contract and procurement fraud have deeply affected our ability to achieve national development goals. Infrastructure projects and critical government initiatives suffer delays, substandard execution, or outright abandonment due to corrupt practices,” Olukoyede lamented.
To combat this, Olukoyede called for strengthened collaboration between the EFCC and the BPP, emphasizing the importance of working together on project implementation and monitoring.
In his remarks, BPP Director-General Adedokun reiterated the bureau’s commitment to upholding integrity and transparency in public procurement processes. He noted that under his leadership, the BPP would intensify efforts to streamline procurement systems and minimize opportunities for corruption.
“The BPP is resolute in its mission to ensure that public procurement is conducted with the highest standards of transparency and efficiency. We will continue to strengthen our processes to eliminate loopholes that enable fraudulent practices,” Adedokun assured.
However, concerns have emerged about the EFCC’s own transparency. The recent cancellation of a high-profile media chat scheduled for January 19 has sparked public speculation and raised questions about the commission’s accountability. Critics have urged the EFCC to lead by example by maintaining transparency in its operations.
Despite these challenges, the EFCC remains a key institution in Nigeria’s fight against corruption. Experts believe that tackling procurement fraud effectively will not only restore public trust but also pave the way for sustainable national development. Olukoyede’s emphasis on collaborative reforms signals a renewed focus on curbing corruption, but its success will depend on consistent enforcement and public sector accountability.
As Nigeria grapples with corruption’s far-reaching consequences, addressing procurement fraud remains critical to unlocking the country’s full developmental potential.
