EFCC

The Economic and Financial Crimes Commission (EFCC) has called on the members of the National Assembly to enact a law against unexplained wealth in the country.

Advertisement

The EFCC said the law will boost the fight against economic and financial crimes and other acts of corruption.

The EFCC chairman, Ola Olukoyede, made the call 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 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,” Olukoyede stated.

He also 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.

EFCC chairman: Mismanagement of resources behind kidnapping, terrorism

The EFCC boss said: “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.”

Olukoyede further called on custodians of stolen assets abroad to cooperate with the EFCC in getting the assets returned to the country, adding: “Custodians of stolen assets are as guilty as those that stole the assets.”

Speaking, the House Committee Chairman on Public Accounts, Bamidele Salam, appreciated the EFCC chairman’s contributions and called for a review of the nation’s cost of labour to make Nigerians live above inducements to corruption.

“We must do something about our wage system if we are serious about the fight against corruption,” the lawmaker said.

The Star

Segun Ojo
Latest posts by Segun Ojo (see all)
Advertisement

RELATED ARTICLESMORE FROM AUTHOR