Can EFCC partnership strategy end corruption in Nigeria?

Since the assumption of office last year, the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has been actively engaging with other government agencies in an effort to combat corruption in Nigeria. Through high-level partnerships with various stakeholders, the EFCC has aimed to foster collaboration towards the complete eradication of corruption in society. While this strategy holds significant promise, it raises an important question: can it yield positive results without political intervention from the presidency?

In recent developments, the EFCC has worked closely with the Nigeria Customs Service (NCS) and other relevant agencies, such as the Nigeria Financial Intelligence Unit (NFIU), the Department of State Security (DSS), and the Nigeria Immigration Service (NIS), to address key challenges like money laundering, terrorist financing, and the illegal flow of currency in and out of the country. This initiative aims to disrupt the economic and financial crimes that have plagued Nigeria’s financial system, in line with the country’s broader anti-corruption goals.

One of the key events in this collaborative effort was the workshop held to enhance the capacity of law enforcement officers across these agencies. The training sought to foster greater inter-agency cooperation, building a strong synergy to support the EFCC and NCS in achieving critical milestones, such as Nigeria’s goal of exiting the Financial Action Task Force’s (FATF) grey list by May 2025. Officers involved in these sessions were empowered with the skills necessary for identifying and prosecuting individuals involved in fraudulent activities, including the illegal declaration or concealment of currency, thereby denying them the opportunity to benefit from the proceeds of their crimes.

The Comptroller-General of the NCS, Bashir Adewale Adeniyi, while speaking on the progress of this collaboration, affirmed the long-standing partnership between the NCS and other government agencies. He highlighted that over the years, the NCS had maintained a close relationship with various stakeholders, exchanging valuable information that has yielded positive results. Adeniyi expressed pride in these successes, emphasizing the NCS’s ongoing commitment to working with other agencies to create a safer and more prosperous nation.

Similarly, the Nigeria Extractive Industries Transparency Initiative (NEITI) has joined forces with the EFCC to recover funds owed to the federal government by stakeholders in the oil and gas sector. NEITI has been working tirelessly to ensure transparency and accountability within the oil and gas as well as the mining sectors, and according to their Executive Secretary, Dr. Orji Ogbonnaya Orji, the agency has already recovered over $3.7 billion from these sectors in its 2020 and 2021 reports alone. However, despite these notable achievements, the NEITI’s proposed budget for 2025 came under scrutiny during its presentation to the House Committee on Petroleum Resources. Committee members raised concerns about the inclusion of unjustifiable budget items, such as a proposed N32 million expenditure for meals, in light of the country’s economic struggles.

This criticism highlights a broader concern about government spending and the lack of prioritisation in the current budget. Kafilat Ogbara, a member of the committee, called on government agencies to ensure that their budgets align with the nation’s economic realities. The public’s perception of such budget allocations is one of mismanagement, further deepening the skepticism surrounding the government’s efforts to fight corruption.

Meanwhile, another important partnership emerged between the EFCC and the Nigerian Exchange Group (NGX). The NGX has expressed a need for stronger collaboration with the EFCC to ensure compliance in the digital trading of assets, particularly as fraudsters increasingly exploit digital platforms. During a meeting with the EFCC’s Executive Chairman, Olukoyede, the NGX CEO, Olufemi Shobanjo, emphasized that the rise in digital trading had provided new opportunities for criminals to exploit, making it crucial for the NGX to collaborate with the EFCC to protect the integrity of the stock market.

The NGX has previously partnered with the EFCC, signing a Memorandum of Understanding (MoU) in 2013, and now seeks to revive and strengthen this relationship. Shobanjo acknowledged that while the NGX itself does not have criminal jurisdiction, it relies on the EFCC’s expertise to protect the market and safeguard investors. Olukoyede responded positively, affirming the EFCC’s readiness to collaborate and suggesting the establishment of a dedicated desk to address issues in the capital market, particularly relating to asset abuse and fraudulent trading.

Despite these positive signs of collaboration, the EFCC’s internal struggles with corruption remain a significant issue. In 2024, the EFCC dismissed 27 officers for fraudulent activities and misconduct. Although the dismissal of these officers is a step in the right direction, it highlights the deeper issue of corruption within the commission itself. The EFCC’s credibility as an anti-corruption body continues to be questioned, particularly after numerous allegations of misconduct involving its leadership and staff.

The dismissal of officers, though necessary, is seen by many as insufficient. Some argue that to truly restore the integrity of the EFCC, it must go beyond administrative actions and pursue criminal prosecution of those involved in corruption. In fact, the strength of any penalty lies not just in dismissal but in the prosecution and conviction of offenders, which would act as a deterrent and help foster a culture of accountability. Only through robust legal action can the EFCC truly cleanse itself and send a strong message to others in the organisation.

The EFCC’s history is rife with scandals, including the suspension of former chairmen Ibrahim Magu and AbdulRasheed Bawa over corruption allegations. In addition, many EFCC staff members have faced suspensions, investigations, and even criminal convictions for involvement in corruption. As recently as early 2025, 10 EFCC officers in the Lagos Zone Command were detained for breaking into the exhibit room and stealing foreign currency and gold items. These repeated incidents of corruption within the EFCC itself have undermined public confidence in the organisation’s ability to lead the fight against corruption.

Ultimately, while the EFCC’s efforts to collaborate with agencies like NEITI, NGX, and the NCS are laudable and hold potential, they will only succeed if there is unwavering political will. The fight against corruption requires not only inter-agency cooperation but also strong political leadership that supports these initiatives without interference. Without the active involvement of the presidency in ensuring the independence and effectiveness of these partnerships, the war against corruption in Nigeria may remain a distant goal.

Political will is essential to ensuring that the EFCC, along with its partners, can function free from corruption within its ranks and outside pressures. If the presidency does not fully commit to supporting these efforts, the battle against corruption will likely be an uphill struggle, with only limited results. Without political intervention and a commitment to transparency at the highest levels of government, the strategy may not yield the positive outcomes Nigerians desperately need.