EFCC Chairman, Ola Olukoyede, revealed the extent of corruption in Nigeria's power sector, saying ongoing investigations would bring tears to anyone. He highlighted fraudulent practices, such as contractors using substandard materials, contributing to system failures and inefficiencies. The EFCC is tackling these issues to improve Nigeria’s electricity supply.
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has revealed the alarming extent of corruption within Nigeria's power sector. Speaking during an oversight visit by the House of Representatives Committee on Financial Crimes to the EFCC’s headquarters in Abuja on November 12, Olukoyede disclosed that ongoing investigations in the sector are deeply troubling, noting that they would bring anyone to tears.
He highlighted the widespread malpractice where contractors are awarded deals to supply electrical equipment but substitute inferior products to save costs. Olukoyede pointed out that some contractors, for instance, used 5.0 gauge wire instead of the required 9.0 gauge, which compromised the quality and safety of the equipment. This mismanagement leads to frequent power outages and damaged infrastructure, contributing to the country's ongoing energy crisis.
The EFCC boss’s comments shed light on the scale of corruption that continues to plague the power sector, exacerbating Nigeria’s already fragile electricity supply system. The EFCC has vowed to continue its investigations and bring those responsible for the fraud to justice, emphasizing the need for accountability to address the country’s power challenges.
