Contract Fraud Most Prevalent Corruption in Public Sector – EFCC Chairman

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has identified contract fraud as the most common form of corruption in Nigeria’s public sector, warning government officials against exploiting public office for personal enrichment.

Olukoyede made the remarks on Thursday during a two-day induction programme organised by the Bureau of Public Service Reforms for the Chief Executive Officers, Chairmen and members of the Governing Board of the South-South Development Commission (SSDC) in Abuja.

Speaking on the theme, “The Role of the Economic and Financial Crimes Commission in Improving Accountability in the Public Service,” the EFCC chairman said public office is a trust that requires transparency, integrity and responsible management of national resources.

According to him, contract fraud has become the most widespread form of corruption within government institutions, often involving the manipulation of procurement processes to benefit individuals or favoured companies.

“From my experience in regulatory compliance, by far the most common form of corruption within the public service space is contract fraud, where those who lead government establishments set out to enrich themselves by rigging the procurement process,” he said.

Olukoyede noted that corruption continues to deprive Nigerians of essential infrastructure and public services, adding that billions of naira are lost annually through diversion and misuse of public funds.

He listed other common forms of corruption in the public sector to include theft of public funds, bribery, kickbacks, payroll and pension fraud, procurement fraud, misappropriation, and duty tour allowance fraud.

The EFCC boss explained that contract fraud often manifests through contract splitting, bid manipulation, the award of contracts to unqualified firms, and payments for abandoned or poorly executed projects.

He reminded participants that the EFCC was established in 2003 to investigate and prosecute economic and financial crimes, recover stolen assets, and promote public awareness on accountability.

Addressing members of the SSDC governing board, Olukoyede urged them to avoid conflicts of interest and comply strictly with the Financial Regulations, Public Service Rules and the Public Procurement Act.

He cautioned officials against seeking contracts from institutions they supervise, operating foreign bank accounts, engaging in incompatible private businesses, or conducting transactions outside recognised financial institutions.

“Before you sign that document, study it. Your signature is your name and integrity. Guard it,” he advised, urging public officers to uphold accountability and protect the public trust.