The Economic and Financial Crimes Commission (EFCC) has started monitoring funds allocated to local governments across the country to ensure proper utilization of such funds, the Chairman, Ola Olukoyede, has revealed.
Speaking during a courtesy visit by the National Christian Youth Professionals (NCYP) at the EFCC headquarters in Abuja, Olukoyede said the commission is already tracking financial transactions at the local government level.
“We have a department called fraud risk assessment and control that is closely monitoring and tracking payments, contracts, and other releases to ensure that funds are expended on what they are meant for,” he said.
He was responding to the NCYP’s calls for stricter oversight, following the financial autonomy recently granted to local governments.
Leader of the NCYP delegation, Isaac Abrak, expressed concern over the slow pace of development at the grassroots level, stating that effective financial management is crucial for progress.
“We come from the grassroots, and we understand the realities in our local government areas. We appreciate the president for granting local government autonomy.
“If local governments can achieve even 40 percent of their responsibilities, we will see significant progress,” he said.
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Abrak also commended the EFCC boss for his leadership style, describing his performance as a reflection of his Christian faith.
“We are proud of you. You have represented our faith with excellence,” he added.
The youth leader also raised concerns over the growing involvement of young people in internet fraud, particularly in northern Nigeria.
“Cybercrime is spreading into the north, and we want the EFCC to intensify its operations in this region,” he urged.
