The Digest:
EFCC Chairman Ola Olukoyede has publicly accused some state governors of systemically diverting billions of naira in monthly security votes, converting them into foreign currency, and stashing the funds abroad instead of using them to combat insecurity. Speaking at a Nigerian Air Force forum, he identified corruption as the “real elephant in the room” driving Nigeria’s security crisis, alleging that stolen resources directly fuel banditry and insurgency.
Key Points:
- Olukoyede stated security votes are taken monthly “without accountability.”
- He cited the case of former Anambra Governor Willie Obiano, where over ₦4 billion in security votes was allegedly diverted
- Funds are often converted to forex via a Bureau De Change and moved overseas
- He linked the $2.1 billion arms procurement scandal to diversion by senior military officers
- The EFCC has recovered ₦566.3 billion between 2024 and 2025, including 753 properties
- Olukoyede called for greater collaboration between anti-graft and security agencies
- He urged the military to “embrace greater accountability” to restore stability
- The chairman emphasized that neither the EFCC nor the military can win the fight against corruption and insecurity alone
Sources: The Cable, Vanguard
