In response to the limitations of traditional punitive measures, Olukoyede shared that he and his team have shifted their focus to preventive strategies. This approach involves a detailed examination of the processes within Nigeria’s more than 700 Ministries, Departments, and Agencies (MDAs). By reviewing these entities’ project execution and spending patterns over the past five years, the EFCC aims to address the underlying issues enabling corruption.

In a live interview on Channels TV, Olukoyede explained, “Our research shows that, year after year, less than 20% of the funds allocated are actually used to benefit Nigerians. The money is made, but it doesn’t reach the people. We can’t continue this way. We keep chasing stolen funds, but when it’s time to prosecute, offenders secure bail. You’re telling me someone didn’t steal money, yet we recovered over N200 billion from them.”

Seeing the ineffectiveness of the current system, Olukoyede said he consulted with his management team, leading them to prioritize prevention over recovery alone. “We realized that merely recovering funds wasn’t enough to deter people, particularly Nigerians, from engaging in corruption,” he stated. “We decided to examine MDAs’ processes for awarding contracts and carrying out procurement activities. We want to see evidence of project completion and ensure that funds released actually serve the Nigerian people.”

This preventive approach, according to Olukoyede, is intended to ensure that public funds are used effectively and to reduce the opportunities for corruption within government agencies.CONTINUE FULL READING>>>>>