RismadarVoice Reporters, February 19, 2026
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has reaffirmed the importance of preventive mechanisms in Nigeria’s anti-corruption drive, stressing that efforts must extend beyond investigation and prosecution to proactive risk detection and institutional safeguards.
Olukoyede made this known on Thursday, February 19, 2026, at the Commission’s Corporate Headquarters in Jabi, Abuja, during the signing of a Memorandum of Understanding (MoU) between the EFCC and BudgIT Foundation.
Speaking at the event, the EFCC boss recalled his commitment during his Senate confirmation to strengthen preventive strategies in the fight against corruption.
“Coming to this office, I told the Senate during my confirmation that we can do things better. We do not necessarily have to wait for money to be stolen before we act,” he said.
He explained that he had presented lawmakers with an analysis of funds lost to procurement fraud in a particular year and what such resources could have delivered if properly utilized.
“I gave them an analysis of the monies that were lost to the country through procurement fraud in a particular year and what that money could deliver. I posed a question to them that we need to do more on prevention,” he stated.
According to him, that resolve led to the establishment of a Directorate of Fraud Risk Assessment and Control within the EFCC, headed by a Director and mandated to focus on preventive measures.
“From the inception of my office, I set up a Directorate called Fraud Risk Assessment & Control. We have since started our prevention activities. It is not enough to track stolen funds; we must stop them from being stolen in the first place,” Olukoyede said.
He emphasized the need to scrutinize public finance processes at the budget implementation stage.
“If money is budgeted for a project, we must ask questions. What is happening to it? We should not wait until the project fails before we move. That is why that department was set up,” he added.
The EFCC Chairman disclosed that the Directorate has already recorded notable successes.
“They have been working and were able to prevent tens of thousands, if not hundreds of millions of naira that would have been stolen in one of their operations,” he revealed.
Earlier, Deputy Country Director of BudgIT, Vahyala Kwaga, described the MoU as both symbolic and strategic, underscoring the importance of partnerships in combating corruption.
“For me, the MoU is symbolic in several ways of partnership and one way to fight corruption in Nigeria. Sometimes it is not about pointing fingers but about creating relationships,” he said.
Kwaga noted that building collaborative relationships encourages the exchange of ideas and perspectives that can drive meaningful reforms.
“In creating relationships, we exchange ideas and perspectives, that makes us look at issues differently. We can then direct change without pressing a button, driving a car or showing a weapon,” he said.
He stressed that civil society organizations play a vital role in complementing government efforts.
“We believe the work we do as a civil society organization is critical to the success of the government itself, and one of such partnerships is with the EFCC. The EFCC is not just the foremost anti-corruption agency in Nigeria but also a partner in purpose,” Kwaga added.
Also speaking, Emmanuel Uche, Project Manager, Anti-Corruption, RoLAC, commended Olukoyede’s leadership, describing it as transformative.
“We recognize the leadership of my brother, Olukoyede, who is giving new direction not only to the EFCC but to Nigeria, the impact of which we are all enjoying,” he said.
Uche noted that recent reforms had begun to restore Nigeria’s credibility within the global financial system.
“Just recently, every one of us has a new lease of life as we can now, incrementally, be accepted back into the global financial community. We are even enjoying the use of our local debit cards for international transactions,” he stated.
He added that while the EFCC has historically been led by capable hands, the current administration is ushering in renewed optimism.
“The EFCC has been lucky with leaders, but it has never been as lucky as in this administration. A lot of things are changing and everybody is happy about it,” he said.
