Ola Olukoyede Restates Role Of Preventive Frameworks In Fight Against Corruption

Ola Olukoyede restates role of preventive frameworks in fight against corruption. The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede, has reiterated the critical need for proactive prevention in the fight against corruption, stressing that anti-corruption efforts must go beyond investigation and prosecution to include early risk detection and institutional safeguards.

He made this known on Thursday, February 19, 2026, at the Commission’s Corporate Headquarters in Jabi, Abuja, during the signing of a Memorandum of Understanding (MoU) between the EFCC and BudgIT Foundation.

Speaking at the event, Olukoyede recalled the commitment he made during his Senate confirmation, noting that prevention has remained a central pillar of his administration.

“Coming to this office, I told the Senate during my confirmation that we can do things better. We do not necessarily have to wait for money to be stolen before we act,” he said.

He explained that he had presented to the lawmakers an analysis of funds lost to procurement fraud in a particular year and what such resources could have delivered for the country if properly utilized.

“I gave them an analysis of the monies that were lost to the country through procurement fraud in a particular year and what that money could deliver. I posed a question to them that we need to do more on prevention,” he said.

According to him, that resolve led to the establishment of a Directorate of Fraud Risk Assessment and Control within the EFCC, headed by a Director, with a mandate to focus on preventive mechanisms.

“From the inception of my office, I set up a Directorate called Fraud Risk Assessment & Control. We have since started our prevention activities. It is not enough to track stolen funds; we must stop them from being stolen in the first place,” he stated.

Olukoyede emphasized the importance of interrogating processes and asking critical questions at the budget implementation stage.

“If money is budgeted for a project, we must ask questions. What is happening to it? We should not wait until the project fails before we move. That is why that department was set up,” he said.

He disclosed that the Directorate had already recorded significant successes.

“They have been working and were able to prevent tens of thousands, if not hundreds of millions of naira that would have been stolen in one of their operations,” he said.

Earlier in his remarks, The Deputy Country Director of BudgIT, Vahyala Kwaga, described the MoU as symbolic and strategic, noting that partnership remains one of the most effective tools in combating corruption.

“For me, the MoU is symbolic in several ways of partnership and one way to fight corruption in Nigeria. Sometimes it is not about pointing fingers but about creating relationships,” he said.

According to him, building relationships fosters exchange of ideas and perspectives that can drive meaningful reforms.

“In creating relationships, we exchange ideas and perspectives, and that makes us look at issues differently. We can then direct change without pressing a button, driving a car or showing a weapon,” he said.

Kwaga stressed that civil society organizations play a critical role in complementing government efforts.

“We believe the work we do as a civil society organization is critical to the success of the government itself, and one of such partnerships is with the EFCC. The EFCC is not just the foremost anti-corruption agency in Nigeria but also a partner in purpose,” he said.

EFCC Chairman Ola Olukoyede

Also speaking at the event, Emmanuel Uche, Project Manager, Anti-Corruption, RoLAC, commended Olukoyede’s leadership, describing it as transformative. “We recognize the leadership of my brother, Olukoyede, who is giving new direction not only to the EFCC but to Nigeria, the impact of which we are all enjoying,” he said.

He noted that recent reforms had begun to restore Nigeria’s credibility in the global financial system.

“Just recently, every one of us has a new lease of life as we can now, incrementally, be accepted back into the global financial community. We are even enjoying the use of our local debit cards for international transactions,” he said.

Uche added that the EFCC had consistently been led by capable hands but that the current leadership was ushering in renewed optimism.

“The EFCC has been lucky with leaders, but it has never been as lucky as in this administration. A lot of things are changing and everybody is happy about it,” he said.