The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has linked Nigeria’s persistent corruption and poverty to widespread non-compliance with laws, stressing that better adherence could unlock the country’s abundant resources.
Olukoyede made the remarks during the signing of a Memorandum of Understanding (MoU) between the EFCC and the Fiscal Responsibility Commission (FRC) at the EFCC headquarters in Jabi, Abuja.
The agreement aims to enhance collaboration in budget oversight, procurement monitoring, and joint investigations.
“One of our major challenges is compliance with laws.
If our institutions, agencies, and citizens follow the rules even at 70–80%, Nigeria would not be where it is today,” Olukoyede said.
He added that the MoU would enable the creation of joint investigation teams to monitor public contracts and budgets, noting, “By signing this MoU, we will have access to reports and can sanitize the system to a reasonable extent.”
FRC Chairman Victor Chinemerem Muruako praised the EFCC for its anti-corruption track record, calling the MoU a “strategic step” that will encourage greater accountability and strengthen regulatory oversight across government agencies.
