EFCC Uncovers "Anticipatory Declaration of Assets" Tactic by Corrupt Officials
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has revealed a new and deceptive tactic being used by some public officers to legitimize future acts of corruption. He refers to this as "anticipatory declaration of assets," where corrupt officials declare properties they do not yet own on their asset declaration forms.
Key points from his revelation include:
The Tactic: Olukoyede explained that some politically exposed persons list properties they plan to acquire with stolen funds before they even take office. This is done to create a false trail and make the acquisition of the properties appear legitimate later on.
A Specific Case: The EFCC chairman cited an investigation into a public officer who declared a N3 billion mansion on his asset declaration form. The investigation later revealed that at the time of the declaration, the property did not exist. Further checks showed the official had already registered the land and completed the building design, indicating a premeditated plan to misappropriate public funds.
Call for Action: Olukoyede made these remarks during the launch of a virtual tool on the Code of Conduct for Public Officers, organized by the Code of Conduct Bureau (CCB). He urged the CCB to adopt innovative investigative methods to detect and prevent such fraudulent schemes.
The Broader Problem: The EFCC chairman highlighted that a significant portion of Nigeria's public sector problems, estimated at 70%, stem from poor fiscal transparency, which leads to the diversion of budgeted funds intended for critical needs.
