Olukoyede Warns Public Officials Against Corruption, Contract Fraud

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has warned public officials against engaging in fraudulent practices, stressing that public office is a responsibility to safeguard public resources rather than an avenue for personal enrichment.

Speaking on Thursday at a two-day induction programme organised by the Bureau of Public Service Reforms for the leadership of the South-South Development Commission (SSDC) in Abuja, Olukoyede said accountability demands that public resources be managed ethically and in the best interest of citizens.

“Public service is a responsibility to protect public resources rather than an opportunity for self-enrichment and compromises,” he said.

Delivering a lecture titled “The Role of the Economic and Financial Crimes Commission in Improving Accountability in the Public Service,” the EFCC chairman said corruption continues to undermine prudent management of government resources.

“Annual losses to corruption in Nigeria’s public service run into billions of naira as resources meant for the provision of physical infrastructure and social services are often converted to private use by public servants,” he said.

Olukoyede identified treasury looting, diversion of public funds, bribery, procurement and contract fraud, payroll and pension fraud, and duty tour allowance fraud as common forms of corruption in the public sector.

Describing contract fraud as the most widespread, he said:
“From my experience in regulatory compliance, by far the most common form of corruption within the public service space is contract fraud, where those who lead government establishments set out to enrich themselves by rigging the procurement process.”

He urged members of the SSDC governing board to comply strictly with the Financial Regulations, Public Service Rules and the Public Procurement Act, warning them against seeking contracts from the commission directly or through proxies.

“Please, tread with caution. Public service is not an invitation to loot the treasury,” Olukoyede said.

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He also advised the officials to avoid operating foreign bank accounts, engaging in businesses incompatible with public office and to exercise diligence before signing official documents.

“Before you sign that document, study it. Your signature is your name and integrity. Guard it,” he said.