The Economic and Financial Crimes Commission (EFCC) on Wednesday announced that it would begin a crackdown on every Nigerian living above their means.
The chairman of the EFCC, Ola Olukoyede said the commission has discovered a mind-boggling scale of corruption within the oil and gas sector.
According to Olukoyede, there has been extensive financial misconduct within the sector which has lasted for years.
He further urged the leadership of the National Assembly to enact legislation making unexplained wealth a criminal offence.
“In the last three weeks, we started a commission-wide investigation into the extractive industry, particularly the oil and gas sector. What we have discovered is mind-boggling. And we have only just opened the books. So much more corruption is to be unravelled. If this is what we’re seeing at the surface, imagine what lies beneath.
“There is a very strong connection between the mismanagement of our resources and insecurity. When you look at banditry, kidnapping, terrorism, trace it back, and you will find a pattern of corrupt practices and diversion of funds that were meant to improve people’s lives.
“Help me pass the Unexplained Wealth Bill. I’ve been begging for the past one year. This same bill was thrown out in the last Assembly,” the EFCC chairman said.
He noted that Nigeria will never get it right should it fail to make individuals accountable for what they have and the lifestyle they live.
“Someone has worked in a ministry for 20 years. We calculate their entire salary and allowances. Then we find five properties — two in Maitama, three in Asokoro. Yet we’re told to go and prove a predicate offence before we can act. That is absurd.
“Once you are living beyond your means, you should be held to account. Until we do this, there will always be an escape route for the corrupt,” he added.
