EFCC chairman: Mismanagement of resources behind kidnapping, terrorism

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, says the mismanagement of resources is responsible for banditry,  kidnapping, terrorism, and other acts of insecurity in the country.

The EFCC chairman said this at the National Conference on Public Accounts and Fiscal Governance convened by the Public Accounts Committee of the Senate and House of Representatives in Abuja on Wednesday, July 9, 2025.

Olukoyede, who noted a direct nexus between mismanagement of resources and insecurity, charged members of the National Assembly to enact a law against unexplained wealth, stressing that it will boost the fight against economic and financial crimes and other acts of corruption.

Olukoyede decried the lack of legislation against unexplained wealth, maintaining that corruption is strengthened when people living above their means are not brought to book.

“I want to make an appeal to you all, please, pass the bill on unexplained wealth,” he said.

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The EFCC boss called for transparency in resource management at all levels of government, stressing that Nigeria is bountifully blessed with resources but without prudent management, nothing tangible would be achieved.

Olukoyede added: “We need transparency in resource management. That’s all we need.

“Everywhere you go in Nigeria, you see natural resources all around you. We will succeed if we are resolute about resource management.”

He, therefore, urged Nigerians to optimise the opportunities of turnaround prevalent in President Bola Tinubu’s administration, saying: “The administration of President Tinubu is the best opportunity we have, we must not miss it.”

The Star