Olukoyede: So far so good

Executive Chairman of the Economic and Financial crimes Commission, EFCC, Ola Olukoyede.

Published By: Kazeem Ugbodaga

By Enejo Shaibu

In every field, there’s a defining moment that either highlights an individual or draws attention to their work. For Olanipekun Olukoyede, head of the Economic and Financial Crimes Commission (EFCC), his agency’s clash with Yahaya Bello, the former Kogi State governor, brought him under the spotlight. Many, like me, after researching him, found that the controversy surrounding Bello was overshadowing much of the progress Olukoyede has been making since becoming in charge of the anti-graft agency last year.

There was so much media attention on Bello that I believe many people did not know of the giant strides of the EFCC boss in just one year in charge. But today, more and more people are beginning to find out that Bello is just one out of many former public officials who the EFCC is investigating and prosecuting.

Olukoyede’s background as a lawyer and scholar makes him well-suited for his role as EFCC Chairman. His legal expertise is evident in his strategic approach to fighting corruption. As the fifth Executive Chairman of the EFCC, he was confirmed by the Nigerian Senate on October 18, 2023, succeeding Mr. Abdulkarim Chukkol, who had served as Acting Chairman following the suspension of Abdulrasheed Bawa in June 2023.

The current boss of the EFCC is obviously not new to the dealings of the commission as prior to his appointment, Olukoyede had served as Chief of Staff to former Acting Executive Chairman Ibrahim Magu and was later confirmed as Secretary to the Commission in 2018.

A legal practitioner and Certified Fraud Examiner (CFE), Olukoyede is also a regulatory compliance consultant, specializing in corporate intelligence, fraud management, and compliance. His extensive experience in investigating and litigating fraud cases, combined with his work as a consultant on manpower development, has been instrumental in shaping his leadership at the EFCC. He has conducted anti-corruption surveys and reviews for law enforcement agencies, government institutions, and corporate organizations both locally and internationally. His areas of expertise also include anti-corruption research and analysis, and corporate intelligence.

Combing through the internet made me realise that Olukoyede, an urbane attorney, refined his skills at some of the best institutions in Nigeria and abroad, including Lagos State University, the University of Lagos, the Institute of Arbitration ICC in Paris, and Harvard’s Kennedy School. He also completed the Public Corruption Management program at the University of Oxford.

Like I mentioned earlier, while Olukoyede was relatively unknown before his appointment, it was the controversy surrounding Yahaya Bello that truly pushed him into the public eye. Bello, with the alleged assistance of the current Kogi State governor, Usman Ododo, repeatedly evaded arrest, forcing Olukoyede to hold multiple press conferences to clarify the situation. He disclosed how he personally reached out to Bello, inviting him to answer allegations of money laundering.

Nigerians appreciated the fact that the chairman of the EFCC was carrying them along for the sake of clarity.

In Olukoyede’s own words: “On my honor, I put a call to him to honor him as a former governor. He said, ‘I can’t come,’ claiming that a lady had surrounded the EFCC with over 100 journalists to embarrass him. I told him I would have him come directly to my floor and be interrogated in my office.” Despite these efforts, Bello responded, “Can’t they come to my village?”

Olukoyede expressed concern over reports of alleged financial misconduct involving the former governor, including accusations that Bello transferred $720,000 from the government’s account to pay for his children’s school fees, anticipating his exit from office. While critics claim that Olukoyede’s pursuit of Bello is politically motivated, he has strongly denied this, noting that he inherited the case. He further emphasized that Bello is not the only high-profile figure facing prosecution under his leadership.

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Since Olukoyede took over the EFCC, the agency has pursued several high-profile cases involving former public officials, including ex-ministers and governors.

Notable prosecutions include:

Sadiya Umar-Farouk, former Minister of Humanitarian Affairs who served under President Muhammadu Buhari is under investigation by the commission for allegedly misappropriating ₦37.17 billion.

Betta Edu, former Minister of Humanitarian Affairs and Poverty Alleviation, was suspended by President Bola Ahmed Tinubu due to alleged involvement in the diversion of ₦585.2 billion.

Halima Shehu, former National Coordinator of the National Social Investment Programme (NISP), is being investigated for a ₦44.8 billion fraud.

Saleh Mamman, former Minister of Power, is being charged with conspiracy to commit money laundering involving over ₦33 billion intended for the Mambilla hydroelectric power project.

Olu Agunloye, former Minister of Power in the Olusegun Obasanjo administration, is being prosecuted for awarding a fraudulent $6 billion contract for the Mambilla Power Project.

Darius Dickson Ishaku, former governor of Taraba State, and Abdulfatah Ahmed, ex-governor of Kwara State, both facing charges related to money laundering and mismanagement of public funds.

With the aforementioned, I don’t think anyone should be ascribing political motives to the pursuit of one former public office holder.

These cases illustrate that Olukoyede’s tenure at the helm of the EFCC since his appointment October 2023, has been marked by extensive efforts to bring accountability to high-level officials, signaling that the agency is focused on a broader mission beyond any single case.