The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has revealed how some public officers fraudulently declare non-existent assets in advance to cover up future embezzlement and corruption.
Speaking on Tuesday, August 12, 2025, at the launch of the Virtual Tool on the Code of Conduct for Public Officers—an initiative of the Code of Conduct Bureau (CCB) in partnership with the Technical Unit on Good Governance and Anti-corruption Reforms (TUGAR)—Olukoyede described the practice as a growing tactic among politically exposed persons.
According to EFCC’s Head of Media & Publicity, Dele Oyewale, the anti-graft chief cited an investigation where a public officer declared ownership of a property worth over ₦3 billion in their CCB form. However, the address provided did not match the property’s actual location. Upon further scrutiny, it was discovered the property did not even exist at the time it was declared.
Olukoyede urged the CCB to intensify its investigations and adopt innovative approaches to detect and curb such deceitful acts.
Also addressing the event, Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), stressed that integrity and adherence to ethics form the bedrock of public service. He hailed the new virtual tool as a major step in digitising oversight of public conduct, boosting preventive compliance, and raising awareness among officers.
CCB Chairman, Abdullahi Usman Bello, noted that the tool will enhance accountability, improve service standards, and educate public officers on rules and regulations guiding their duties.
