The Digest:
The EFCC chairman, Ola Olukoyede, revealed that a recent probe into Nigeria’s oil and gas sector has uncovered alarming levels of corruption, directly contributing to national insecurity. He emphasized that these criminal activities are a significant factor behind the nation’s rising insecurity.
Key Points:
- EFCC initiated a wide-ranging investigation into Nigeria's oil and gas sector over the past three weeks.
- The investigation revealed significant corruption within the industry.
- EFCC links the mismanagement of oil revenues to the rise of criminal activities, including banditry and terrorism.
- The NNPC is facing scrutiny over N210 trillion unaccounted for between 2017-2023.
- EFCC urges the passing of the Unexplained Wealth Bill to hold public officers accountable.
- EFCC is also expanding its asset recovery operations globally, recovering assets from countries like Iceland.
- EFCC calls for stronger oversight of Ministries, Departments, and Agencies (MDAs) to prevent corruption.
- Political leaders are urged to unite in fighting corruption, as transparency in public expenditure is vital for Nigeria’s growth.
The EFCC’s recent findings underscore the urgent need for systemic reforms in Nigeria's extractive sector, with corruption feeding into broader insecurity. A collective, bipartisan effort is necessary to tackle these challenges and ensure long-term national stability.
Source: Premium Times
