EFCC Chairman Links Corruption to Law Non-Compliance

Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), stated that corruption in Nigeria is largely due to non-compliance with laws. He made this remark during the signing of a memorandum of understanding (MoU) with the Fiscal Responsibility Commission (FRC), led by Chairman Victor Chinemerem Muruako, on Thursday in Abuja.

Olukoyede highlighted that compliance with rules and regulations is a significant challenge in Nigeria, noting that even a compliance rate of 70-80% would not suffice to address the country's resource issues. He expressed hope that the MoU would enhance collaboration between the EFCC and FRC, particularly in forming joint investigative teams to improve contract procurement processes and ensure better compliance with laws.

Olukoyede also pointed out that visible collaboration would signal a shift from business as usual, aiming to sanitize the system and improve the budgetary process. Muruako expressed optimism about the MoU, commending Olukoyede for the EFCC's performance in fighting economic and financial crimes.