The Economic and Financial Crimes Commission (EFCC) is intensifying efforts to monitor the utilization of funds allocated to local governments across Nigeria. This initiative was disclosed by EFCC Chairman, Ola Olukoyede, during a courtesy visit by the leadership of the National Christian Youth Professionals (NCYP) on Thursday.
This move follows growing calls for tighter oversight of local government finances, particularly after the recent granting of financial autonomy to local governments. Olukoyede reassured the group that the EFCC had already initiated steps to track the disbursement and utilization of these funds.
"We have a department called Fraud Risk Assessment and Control that is closely monitoring and tracking payments, contracts, and other releases to ensure that funds are expended on what they are meant for," Olukoyede stated. He emphasized that this department will play a crucial role in preventing mismanagement and ensuring that funds reach their intended purposes.
In addition to addressing financial concerns, Olukoyede urged the NCYP members to use their platforms to promote integrity and unity among Nigerians. He emphasized that integrity transcends religious affiliation, calling for all citizens to operate with integrity, regardless of faith. "Doing the right thing has nothing to do with whether you are a Christian or a Muslim. Let's continue to operate as people of integrity irrespective of our faith," he added.
Isaac Abrak, the leader of the NCYP delegation, expressed concern over the slow pace of development at the grassroots level, especially in light of the financial autonomy granted to local governments. Abrak stressed that only effective management of local government resources could drive economic growth, alleviate poverty, and improve living conditions.
"We come from the grassroots, and we understand the realities in our local government areas. We appreciate the President for granting local government autonomy. If local governments can achieve even 40% of their responsibilities, we will see significant progress," Abrak noted.
He also assured the EFCC of the NCYP's commitment to partnering in ensuring the effective utilization of funds allocated for grassroots development. "That's why we are here—to call for proper monitoring of resource management," he said.
The NCYP leader praised Olukoyede's leadership, commending his professionalism and ability to reflect Christian values through his work. "We are proud of you. You have represented our faith with excellence," Abrak remarked. He also acknowledged the EFCC's efforts in securing Nigeria's victory in the P&ID case in 2023.
Abrak raised an alarming concern regarding the increasing involvement of youth in internet fraud, particularly in Northern Nigeria. He urged the EFCC to intensify its operations in the region to tackle the growing menace of cybercrime. "Cybercrime is spreading into the North, and we want the EFCC to intensify its operations in this region," Abrak urged.
The meeting between the EFCC and NCYP leaders underscored the importance of strong governance, integrity, and effective use of public resources at the local government level. With the EFCC's proactive monitoring, there is hope that local government funds will be better managed, fostering sustainable development while also combating the rising threat of cybercrime, especially among the youth.
