EFCC Boss Warns Against Financial Mismanagement  In Ministries, Agencies, Others

Afimag.com –

Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, has warned against financial mismanagement in piloting the affairs of Ministries, Departments and Agencies in the country.

Olukoyede, gave the warning recently in Abuja while receiving a delegation of the Financial Reporting Council of Nigeria, FRCN, led by its Executive Secretary/Chief Executive Officer, Dr. Rabiu Olowo, at the corporate headquarters of the Commission.

Olukoyede, who called for financial discipline and integrity among government agencies challenged MDAs to improve on their financial reporting, pointing out that the Commission will devote more attention to their internal cleansing.

He said, “By virtue of the financial investigations we are doing, we discover a lot of malpractices in financial reporting, particularly in the MDAs, so we are starting with internal cleansing before we move to corporate bodies.

“We believe the government of Asiwaju Bola Ahmed Tinubu is very serious. By the virtue of the appointment he has been making, he will move this country forward.

“You as a regulator of accounting standards and also we as a law enforcement agency, we will be doing a lot of great work in order to move this country forward.

“Yes, there is no doubt that we need to work together; we need to synergize and for once be more serious in fighting corruption in this country. The work of fighting corruption is not just for the EFCC alone, let us stop deceiving ourselves and join hands with the EFCC to make Nigeria great,” he said.

Earlier in his speech, Olowo called for improved synergy with the EFCC, especially in tackling issues relating to compromise of corporate governance rules and enforcement of standards in private and public organizations. He drew striking similarities between the EFCC and his Council, stressing that the core values of the two agencies are the same.

“We find a lot of alignment between our core values and the core values of the EFCC especially when it comes to the issue of our core mandate, we also share much similarity even in our names. So, that tells us a great deal in terms of the value that we can get from collaboration working together in order to achieve the mandate of the two organizations,” he said.

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