News

Things We Discovered In Power Sector Will Make You Cry – Olukoyede, EFCC Chair

Published

12 months ago

November 12, 2024

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, has said the level of corruption in the power sector would make people cry.

He put it this way: “As we speak, we are grappling with electricity. If you see some of the investigations we are carrying out within the power sector, you will shed tears.

“People were awarded contracts to supply electricity equipment. Instead of using what they call 9.0 guage, they will go and buy 5.0.

“Every time you see the thing tripping off, the thing gets burnt, and all of that, it falters and it collapses. It’s part of our problems.”

Olukoyede made the revelation during an oversight visit by the House of Representatives Committee on Financial Crimes to the EFCC’s headquarters in Abuja, today.

Furthermore, stressed the importance of collaboration between the Commission and lawmakers to combat financial crimes effectively.

One of the key areas of concern, according to Olukoyede, is the power sector, where corrupt practices have been undermining the country’s infrastructure.

It was at this point the EFCC boss revealed that some contractors awarded contracts to supply electricity equipment were involved in cutting corners.

He said they were using substandard materials that have contributed to the frequent power outages and system failures.

This, he said, is one of the many examples of how corruption in critical sectors is holding back the country’s development.

Olukoyede also discussed the EFCC’s new strategic focus on asset tracing and recovery, which he credited for the agency’s successes over the past year.

Furthermore, he revealed that “For every 10 Naira recovered, perhaps 30 or 40 Naira may have been stolen.

“If we recover about 440 billion Naira and several billions of dollars in a year, imagine the total amount siphoned from our system. That’s the unfortunate reality.

“Thus, we are focusing on prevention. Over the last year, we have established a new directorate for risk assessment and control.

“To recover 10 Naira, you may spend between 4 and 5 Naira. But to prevent 10 Naira from being stolen, you spend less than 1 Naira, based on our research and experience.

“Prevention is, therefore, the more effective way to combat corruption.

“We need more resources to carry out our mandate effectively. Our staff are underpaid, and we need to improve their welfare.”

Reacting, Ginger Onwusibe, Chairman of the House Committee on Financial Crimes, expressed the committee’s readiness to support the EFCC through legislation and improved budget allocations.

Onwusibe also urged the Commission to enhance its operational capacity and strengthen collaborations with other agencies and development partners to improve accountability and efficiency in the fight against corruption.”

News

JUST IN: Tinubu Reverses Maryam Sanda’s Pardon, Convict To Spend Six Years In Jail

Published

2 hours ago

October 29, 2025

Editor

After backlash for granting a presidential pardon to Maryam Sanda, sentenced to death in 2020 for the killing of her husband, Bilyaminu Bello, President Bola Tinubu has revoked the pardon and reversed her sentence to 12 years.

This was revealed in an official gazette released by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Wednesday.

According to the gazette, Sanda, who had already spent six years and eight months at the Suleja Medium Security Custodial Centre, got the new approved term on compassionate grounds.

Details later…

News

JUST IN: Tinubu Bows To Pressure, Reviews Pardon For Kidnapping, Drug-related Offences

Published

3 hours ago

October 29, 2025

Editor

President Bola Tinubu has ordered a review of the presidential pardon granted to at least 175 persons at the National Council of State meeting on October 9, 2025, following nationwide outrage over the inclusion of individuals convicted of serious offences.

In a statement on Wednesday, the President’s Special Adviser on Information and Strategy, Bayo Onanuga, said, “Consequently, certain persons convicted of serious crimes such as kidnapping, drug-related offences, human trafficking, fraud, unlawful possession of firearms/arms dealing, etc., were deleted from the list.”

Onanuga added, “Others who had been hitherto pardoned in the old list had their sentences commuted.”

Details shortly…

News

JUST IN: Senate Clears Oluyede As Chief Of Defence Staff

Published

4 hours ago

October 29, 2025

Editor

The Senate on Wednesday confirmed Chief of Defence Staff-designate, General Olufemi Oluyede, as it began the screening of the newly appointed service chiefs at the National Assembly complex in Abuja.

Oluyede was confirmed barely an hour after he and other nominees arrived at the complex amid tight security.

Welcoming the nominees to the chamber, Senate President Godswill Akpabio described the screening as a constitutional duty aimed at ensuring that only the most competent and patriotic officers are entrusted with safeguarding the nation.

Akpabio said, “Distinguished colleagues, it is with great pleasure that I welcome our newly appointed Service Chiefs to the hallowed chamber of the Senate of the Federal Republic of Nigeria.

On behalf of the entire Senate, “I congratulate you on your well-deserved appointments and commend you for the years of dedicated service you have rendered to our great nation.”

He further explained that the exercise was part of the Senate’s oversight responsibility to guarantee discipline and professionalism within the armed forces, adding that the chamber looked forward to a constructive interaction that would strengthen Nigeria’s security system.

The Senate President added, “Today’s exercise is in keeping with our constitutional duty to provide oversight and ensure that only the most competent, patriotic, and disciplined officers are entrusted with the task of safeguarding our national security and territorial integrity.”

Leading the delegation, Oluyede arrived at the National Assembly complex around 10 a.m. alongside other senior officers. The nominees are being screened by the Committee of the Whole, chaired by Akpabio, before formal confirmation.

Their appearance follows a letter from President Tinubu, which was read during Tuesday’s plenary, urging the Red Chamber to give “expeditious consideration” to the nominations.

The President listed the nominees as General Olufemi Oluyede (Chief of Defence Staff), Major General Waheedi Shaibu (Chief of Army Staff), Rear Admiral Idi Abbas (Chief of Naval Staff), Air Vice Marshal Kennedy Aneke (Chief of Air Staff), and Major General Emmanuel Undiendeye (Chief of Defence Intelligence).

The screening comes just a week after Tinubu held a closed-door meeting with the new service chiefs at the Presidential Villa — his first official engagement with the military hierarchy following last week’s sweeping shake-up in the armed forces.

According to the Presidency, the appointments form part of the administration’s broader efforts to strengthen the national security architecture and improve coordination among the military and intelligence agencies.

Tinubu had also lauded the outgoing service chiefs for their “patriotic service and leadership” and urged their successors to justify the confidence reposed in them by upholding professionalism, unity, and vigilance within the Armed Forces.