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In a candid disclosure, EFCC Chairman Ola Olukoyede has revealed the staggering extent of financial corruption within Nigeria.
Speaking during a meeting with the Revenue Mobilisation Allocation and Fiscal Commission, Olukoyede lamented the “humongous amount of money stolen,” expressing bewilderment at how the country continues to survive amidst such rampant theft.
“If you see some case files, you will weep,” he stated, highlighting the illicit transfer of unspent budget allocations to private accounts.
Emphasizing the need for systemic reform, he announced the establishment of the EFCC’s new Department of Fraud Risk and Assessment and Control, aimed at tackling corruption at its roots through preventive measures and policy reviews.
“If we can block some of these leakages and have 50 percent of capital project execution in Nigeria, the country would be fine,” Olukoyede concluded, calling for a comprehensive overhaul of the revenue generation system.
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