EFCC boss: Not a kobo of recovered assets will be mismanaged under my watch

Economic and Financial Crimes Commission Chairman, Ola Olukoyede, has assured Nigerians that no recovered asset will be mismanaged under his leadership, according to a report by Vanguard News. He spoke while weighing into debate over asset management, opposing calls for a single agency to handle all recovered assets, citing failed similar arrangements in the UK and South Africa.

Olukoyede said Nigeria’s over 20 asset-recovering agencies made centralisation impractical, also referencing AMCON’s reported N5 trillion loss. He argued the Proceeds of Crime Act and Section 31 of the EFCC Act offer a stronger accountability framework, noting the EFCC publishes recovered-asset data within 24 hours and submits annual reports on time.