Over 80% of public sector corruption linked to procurement fraud, EFCC says

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has said procurement and contract fraud account for more than 80 per cent of corruption in Nigeria’s public sector, warning that tackling the menace could significantly improve governance and service delivery.

Olukoyede made the disclosure on Wednesday in Abuja while hosting a strategic meeting of the EFCC, the Independent Corrupt Practices and Other Related Offences Commission, the Code of Conduct Bureau and the Bureau of Public Procurement to strengthen inter-agency collaboration in the fight against corruption.

According to him, procurement fraud remains the biggest source of public sector corruption in the country.

“More than 80 per cent of public sector corruption is caused by contract and procurement fraud. If we can reduce this to the barest minimum, we would have gone a long way in realising our mandates. If we can actually deal with the issue of contract and procurement fraud in Nigeria, probably within the next one year, the impact will be felt everywhere,” Olukoyede said.

He stressed that preventing procurement fraud requires closer cooperation between anti-corruption agencies and the BPP, noting that the regulator’s expertise is essential to detecting risks before public funds are diverted.

The EFCC chairman also proposed joint investigations, intelligence sharing, joint project monitoring and regular capacity-building among the agencies, adding that a Standard Operating Procedure would be developed to enhance collaboration and prevent duplication of efforts.

The meeting was attended by BPP Director-General Adebowale Adedokun, ICPC Chairman Musa Adamu Aliyu and CCB Chairman Abdullahi Usman Bello, who all pledged stronger cooperation in tackling corruption and improving accountability in public procurement.