The Economic and Financial Crimes Commission (EFCC) has announced a major shift in strategy, moving away from only recovering stolen public funds to actively preventing corruption before it happens.
EFCC Chairman, Mr. Ola Olukoyede, made this known on Thursday, May 1, during a courtesy visit by the Human and Environmental Development Agenda (HEDA), led by its Chairman, Olanrewaju Suraju, in Abuja. He stated that the Commission would now focus on building systems that stop public fund theft before it begins.
“We are committed to preventing corruption and fraud from occurring in the first place,” Olukoyede said. “Instead of waiting for money to be stolen, we are focusing on closing loopholes that make it possible for public officials to steal in the first place.”
According to him, one of the key areas of focus will be monitoring how the 2025 national budget is implemented across Ministries, Departments, and Agencies (MDAs). He stressed that if at least 50 percent of the capital budget is implemented properly, Nigeria will see visible improvements in infrastructure and service delivery.
This new direction will be supported by the EFCC’s Fraud Risk Assessment and Control (FRAC) department, which is responsible for identifying weaknesses in financial systems before they are exploited. “If we prevent theft, there’s less money to recover. Prevention is more effective and less costly than recovery,” he added.
Olukoyede revealed that 2024 has so far been the EFCC’s most successful year in its 22-year history, with a record number of convictions and asset recoveries. However, he believes that success should not only be measured by how much is recovered, but also by how much is prevented from being stolen in the first place.
Beyond financial crimes, Olukoyede also pledged to fight corruption-related environmental crimes. He spoke about the EFCC’s growing collaboration with the Ministry of Solid Minerals and the Nigerian Extractive Industries Transparency Initiative (NEITI) to address illegal mining and environmental degradation—issues often linked to corruption in the extractive sector.
He emphasized the need to strengthen partnerships across sectors, assuring stakeholders that the EFCC under his leadership will remain open to collaboration with civil society groups, government agencies, and international partners.
In response, HEDA Chairman Suraju commended the EFCC’s new direction, describing Olukoyede’s leadership as bold and impactful. “We support the EFCC’s move to shift focus toward prevention. It is a smart strategy, and we are ready to help in any way we can,” Suraju said.
The EFCC’s renewed focus comes at a time when Nigerians are demanding greater accountability and efficiency in public service, especially amid economic challenges. By preventing corruption rather than only reacting to it, the Commission hopes to save the country both money and time.
