Nigeria loses up to N25tn to corruption as EFCC, ICPC, CCB, BPP join forces

Nigeria’s leading anti-corruption agencies have agreed to strengthen collaboration in the fight against corruption, with a renewed focus on tackling procurement and contract fraud running into trillions.

The resolution was reached on Wednesday during a strategic roundtable convened by the Economic and Financial Crimes Commission (EFCC) Chairman, Ola Olukoyede, at the commission’s headquarters in Abuja.

Olukoyede described procurement fraud as the biggest source of public sector corruption.

The meeting brought together the leadership of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Code of Conduct Bureau (CCB) and the Bureau of Public Procurement (BPP).

Speaking at the meeting, Olukoyede said stronger inter-agency cooperation was essential to improving intelligence sharing, joint investigations, prevention strategies and prosecution of corruption cases.

He identified procurement and contract fraud as responsible for over 80 per cent of corruption in the public sector, stressing that reducing the menace would have a significant impact on Nigeria’s economy and public service delivery.

He proposed a formal framework for collaboration, including a Standard Operating Procedure (SOP), quarterly coordination meetings, joint monitoring and capacity-building programmes among the agencies.

ICPC Chairman, Dr Musa Adamu Aliyu (SAN) supported the initiative, saying closer collaboration would eliminate duplication of investigations, improve efficiency and boost public confidence in Nigeria’s anti-corruption efforts.

The Chairman of the Code of Conduct Bureau, Dr Abdullahi Usman Bello, also backed the partnership, warning that corruption has cost Nigeria between N7 trillion and N25 trillion.

He identified procurement fraud as one of the country’s biggest governance challenges and called for greater information sharing among enforcement agencies.

The Director-General of the Bureau of Public Procurement, Dr Adebowale Adedokun, urged the agencies to prioritise preventive measures by strengthening procurement systems, noting that transparent and accountable procurement remains one of the most effective tools for reducing corruption.

He warned that weak procurement systems often result in abandoned projects, cost overruns, poor infrastructure and waste of public resources.