The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns over inadequate funding, warning that it could undermine the commission’s ability to effectively execute its mandate.
Olukoyede spoke on Tuesday before the Senate Committee on Anti-Corruption and Financial Crimes, chaired by Senator Emmanuel Udende, while presenting the EFCC’s expenditure performance for the 2025 fiscal year and its 2026 budget proposals.
He disclosed that only 50 per cent of the commission’s capital allocation had been released, affecting critical operations. Contractors handling EFCC projects remain unpaid, and essential licences required for investigative work have yet to be provided.
“We are concerned because contractors have not been serviced, and even the licence providers have not been paid. This will pose a major challenge for us this year, as these licences are essential for our work to continue seamlessly,” Olukoyede said.
According to the EFCC chairman, the commission received an approved appropriation of N92.22 billion for 2025, of which only 74 per cent had been released as of December 31, 2025.
He noted that the Federal Government’s envelope budgeting system restricts agencies to predetermined spending limits, limiting flexibility.
As a result, the EFCC’s proposed capital expenditure for 2026 stands at N22.8 billion, representing 70 per cent of the previous year’s allocation. “We cannot exceed this limit.
Payments for capital projects already executed remain outstanding, leading to the abandonment of several projects,” he explained, adding that the matter has been formally reported to the Accountant-General of the Federation.
Olukoyede also appealed for an upward review of the EFCC’s overhead costs to improve operational efficiency. He urged the Senate to strengthen its partnership with the commission in the collective effort to build a corruption-free Nigeria.
