From Sola Ojo, Abuja
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has urged the National Assembly to urgently pass a law criminalising unexplained wealth.
To him, such legislation would significantly strengthen the fight against corruption and economic crimes.
Olukoyede made the appeal on Wednesday, July 9, 2025, during the National Conference on Public Accounts and Fiscal Governance organised by the Public Accounts Committees of both chambers of the National Assembly in Abuja.
“I want to make an appeal to you all. Please, pass the bill on unexplained wealth,” he said.
He noted that corruption thrives when individuals living beyond their means are not held accountable.
The EFCC Chairman stressed the need for transparency in resource management across all levels of government.
“Nigeria is abundantly blessed. What we need is transparency and the will to manage these resources prudently,” he noted.
He also drew a direct link between poor resource management and rising insecurity, saying: “Banditry, terrorism, and kidnapping are fuelled by mismanagement of public funds.”
Olukoyede urged Nigerians to seize the economic recovery opportunities under President Bola Tinubu’s administration, describing it as “the best opportunity we have, and we must not miss it.”
He also appealed to foreign custodians of looted assets to collaborate with the EFCC, asserting that “those who keep stolen assets are as guilty as those who stole them.”
In his remarks, the Chairman of the House Committee on Public Accounts, Hon Bamidele Salaam, called for a review of the country’s wage system.
“We must address our labour cost structure if we are serious about tackling corruption,” the lawmaker noted.