The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has warned newly appointed officials of the South-South Development Commission (SSDC) against treating public office as an opportunity for personal enrichment, declaring that public service is a responsibility to safeguard public resources.
Key Highlights:
- EFCC warned SSDC officials against looting public funds.
- Olukoyede said contract fraud is the most common form of corruption.
- He urged officials to obey procurement and financial laws.
- He warned against conflicts of interest and contract racketeering.
- He reminded them that public office is a responsibility, not an opportunity to enrich themselves.
Olukoyede issued the warning in Abuja on Thursday, while delivering a lecture at a two-day induction programme organised by the Bureau of Public Service Reforms for the chairman, chief executive officer and members of the SSDC governing board.
The programme had the theme: “Institutional Governance and Regulatory Compliance.”
Speaking on “The Role of the Economic and Financial Crimes Commission in Improving Accountability in the Public Service,” the EFCC chairman said accountability demands that public resources be managed ethically, efficiently and solely in the interest of Nigerians.
He lamented that corruption continues to undermine effective governance, saying billions of naira meant for infrastructure and essential public services are lost annually through fraudulent practices in the public sector.
“Annual losses to corruption in Nigeria’s public service run into billions of naira as resources for the provision of physical infrastructure and social services are often converted to private use by public servants,” he said.
Olukoyede identified major forms of corruption in the public service as treasury looting, diversion of public funds, bribery and kickbacks, misappropriation, procurement and contract fraud, payroll and pension fraud, as well as duty tour allowance fraud.
According to him, contract fraud remains the most widespread form of corruption within government institutions.
“From my experience in regulatory compliance, by far the most common form of corruption within the public service space is contract fraud, where those who lead government establishments set out to enrich themselves by rigging the procurement process,” he said.
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He explained that contract fraud often involves contract splitting to evade approval thresholds, manipulation of bidding processes in favour of preferred contractors, awarding contracts to unqualified firms, and authorising payments for poorly executed or completely abandoned projects.
The EFCC chairman also traced the establishment of the anti-graft agency in 2003 to the need to combat corruption and other economic and financial crimes through investigation, prosecution, asset recovery and public enlightenment.
He, however, acknowledged that the commission’s anti-corruption efforts continue to face challenges, including inadequate manpower and resources, limited public support, delays in prosecuting high-profile corruption cases, and recurring allegations of selective investigations.
Addressing the SSDC officials directly, Olukoyede urged them to reject pressures from associates who might see their appointments as opportunities to access public funds.
“I imagine that you all have been receiving tons of congratulatory messages on your appointment, and those close to you would have reminded you that this is an opportunity to grab a slice of the proverbial national cake. Please, tread with caution. Public service is not an invitation to loot the treasury,” he said.
He advised the appointees to familiarise themselves with the financial regulations, public service rules and the Public Procurement Act, stressing that strict compliance with the laws would help them avoid corruption investigations and prosecution.
Olukoyede further cautioned them against engaging in businesses that conflict with their official responsibilities, operating foreign bank accounts, bidding for contracts from the SSDC directly or through proxies, and conducting financial transactions outside recognised financial institutions.
“As a member of the SSDC, familiarise yourself with the Procurement Act and be guided. You should not be jostling for contracts from the SSDC either directly or through fronts,” he warned.
He also urged the officials to maintain proper financial records and carefully scrutinise every document before appending their signatures.
“Before you sign that document, study it. Your signature is your name and integrity. Guard it,” Olukoyede said.
