The Economic and Financial Crimes Commission (EFCC) has officially commenced monitoring the funds allocated to local governments in Nigeria, according to the Chairman of the agency, Abdulrasheed Bawa Olukoyede. This strategic move is aimed at enhancing transparency and curbing financial mismanagement at the local government level.
Speaking at a press briefing today, Olukoyede explained that the EFCC is stepping up its efforts to track the flow and utilization of government funds, with a particular focus on local government areas across the country. He emphasized that this initiative is part of the commission's broader mandate to tackle corruption and ensure that public funds are used effectively for their intended purposes.
“We are intensifying our monitoring of the funds earmarked for local governments in Nigeria to ensure that they are not diverted or misappropriated. Local governments are critical to the development of our nation, and we cannot afford to allow corruption to undermine their capacity to serve the people,” Olukoyede stated.
The EFCC Chairman further added that the agency will collaborate closely with other stakeholders, including state governments, financial institutions, and civil society organizations, to ensure robust monitoring mechanisms. In addition to financial tracking, the EFCC will implement technology-driven solutions to provide real-time transparency on the allocation and expenditure of local government funds.
“The fight against corruption at all levels of government is non-negotiable. We are committed to ensuring that resources meant to improve the lives of Nigerians at the grassroots level are properly utilized. The EFCC is determined to hold all public officials accountable for their actions,” Olukoyede stressed.