The Executive Chairman, Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has appealed to the National Assembly to pass a law criminalizing unexplained wealth as part of efforts to strengthen the fight against corruption in Nigeria.
Olukoyede made the call on Wednesday at the National Conference on Public Accounts and Fiscal Governance, organized by the Public Accounts Committees of the Senate and House of Representatives.
According to a statement by EFCC spokesperson, Dele Oyewale, the chairman decried the absence of legal provisions addressing unexplained wealth, emphasizing that corruption thrives when individuals living beyond their means are not held accountable.
“I want to make an appeal to you all, please, pass the bill on unexplained wealth. We need transparency in resource management. That’s all we need,” Olukoyede said.
He also stressed the link between poor resource management and rising insecurity, including banditry, kidnapping, and terrorism. The EFCC boss called for greater transparency at all levels of government and urged international custodians of stolen assets to cooperate with Nigeria in repatriating looted funds.
“Those keeping stolen assets are as guilty as those who stole them,” he added.
Chairman of the House Committee on Public Accounts, Hon. Bamidele Salaam, echoed Olukoyede’s sentiments, adding that a review of the national wage structure is necessary to reduce vulnerability to corruption.
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