“In the last three weeks, we launched a commission-wide investigation into the extractive industry… What we have discovered is mind-boggling.”
Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, says a probe into the Nigerian National Petroleum Company Limited (NNPCL) has revealed shocking levels of corruption.
Speaking at a public accounts conference in Abuja, Olukoyede said, “In the last three weeks, we launched a commission-wide investigation into the extractive industry… What we have discovered is mind-boggling.”
He linked corruption in the oil and gas sector to Nigeria’s economic woes and insecurity, saying, “When you look at banditry, kidnapping, terrorism—trace it back, and you will find a pattern of corrupt practices.”
Olukoyede urged the National Assembly to pass the Unexplained Wealth Bill. “If we don’t make individuals accountable for what they own, we’ll never get it right,” he said.
He also revealed that the EFCC is tracking illicit assets in the U.S., Turkey, and Iceland. “An ambassador even told me they discovered an estate in Iceland owned by a Nigerian,” he added.
Olukoyede warned that without reform, Nigeria risks missing its last opportunity for true national recovery.