Corruption in Nigeria dates back to the country’s independence era. However, the key difference between then and now is the level of boldness with which it occurs.
On January 15, 1966, six years after the country gained independence, some majors staged a coup and turned Nigeria upside down. The young officers exposed those in our public services who siphoned off 10 percent of government contract funds to enrich themselves. They were called the ‘’10 percenters.’’ They introduced Nigerians to the term “corruption,” describing it as a corrosive force, often likened to “cankerworms.”
Major Chukwuma Kaduna Nzeogwu, the leader of these young majors, branded the 10 percenters as enemies of the revolution, accusing them of making the country appear impressive but hollow.
Ironically, the ensuing battle to rid the country of corruption set a pattern: corruption became the justification for repeated shifts in government, from military to military and civilian to military. The pledge to liberate Nigeria from corruption has found support across political leaders, both in khaki and agbada, because we all agree it damages our country. In times of desperation for leadership, anyone appearing with a hint of sanctity is swiftly hailed as a saviour, as if they were a gift of divine intervention.
The first civilian administration after the 1966 coup was in 1979, led by Shehu Shagari. On December 31, 1983, the Nigerian military, led by key officers, staged a coup that overthrew the democratically elected government of President Shagari after four years in office. This brought Major General Muhammadu Buhari to power as the new head of state. Again corruption was at the core of the reasons why that administration was overthrown from power.
Fast forward to 1999 during the third republic with Olusegun Obasanjo at the helm of affairs. After four years in power, Obasanjo created the EFCC as the need to fight corruption became more evident. The inaugural chairman of the commission, Nuhu Ribadu was up and running. Armed with the support of Nigerians and the government of the day, he swung into action and went after political bigwigs.
21 years after the establishment of the EFCC, corruption is on another level. And the new sheriff in town, Mr. Olanipekun Olukoyede knows that it can’t be business as usual in fighting this scourge. As a result, he has been seeking the help of Nigerians across board to support the commission reducing corruption to it barest minimum. From the war against Naira abuse to going after former public office holders and ‘Yahoo Boys,’ Olukoyede is leaving no stone unturned.
War against Naira abuse
The naira is arguably one of the most frequently abused currencies globally, as it’s common to see Nigerians, particularly those who are well-off, carelessly spraying this legal tender at social events. This practice directly violates the Central Bank of Nigeria (CBN) Act, which prohibits the misuse of the nation’s currency.
Section 21(3) of the Central Bank of Nigeria Act 2007 (as amended) clearly outlines penalties for individuals caught abusing the naira. The law specifies that “spraying, dancing on, or stepping on the naira or any note issued by the Bank at social events or in any other context constitutes abuse and defacing of the naira or such notes and is punishable by fines, imprisonment, or both.”
The EFCC, under Olukoyede’s leadership, has enforced this section of the constitution with seriousness, as several well-known Nigerians have faced legal consequences for naira abuse. The six-month prison sentence given to the controversial cross-dresser Idris Okuneye, popularly known as Bobrisky, and the prosecution of socialite Pascal Okechukwu, also known as Obi Cubana, highlight the EFCC’s commitment to addressing this issue.
A Federal High Court sentenced Bobrisky to six months in jail with no option for a fine, while a Federal High Court in Lagos granted Obi Cubana N10 million bail after he pleaded not guilty to charges of naira abuse. The EFCC’s decision to begin this crackdown with high-profile socialites sends a strong message to others in similar circles.
Yahoo Boys
Internet fraudsters, commonly known as Yahoo Boys, have been heavily impacted by Olukoyede’s mission to cleanse the system. Across Nigeria, EFCC operatives have been actively arresting and prosecuting individuals involved in internet fraud.
On March 8, 2024, the EFCC’s Ibadan Zonal Command arrested 74 suspected internet fraudsters in the Government Residential Area (G.R.A.), Shagamu, Ogun State. These arrests followed surveillance and intelligence operations linking the suspects to various internet-related crimes. Recovered items included seven luxury cars, three laptops, 124 mobile phones, a PlayStation 3 console, two motorcycles, and other incriminating documents. The EFCC confirmed that charges will be filed once investigations are complete.
In another operation on June 8, 2024, EFCC operatives from the Ibadan Zonal Directorate apprehended 127 suspected internet fraudsters in Ondo State. These individuals were detained during a pre-dawn raid at a “Yahoo Party” held at two popular clubs, Signature and Abah, in Akure. Initially scheduled for June 5, the party was moved to June 8 in an effort to evade the EFCC’s intelligence network.
On August 22, the EFCC’s Makurdi Zonal Command conducted a sting operation in Makurdi, Benue State, resulting in the arrest of 23 additional suspected internet fraudsters.
Former public office holders
Since taking office, Olukoyede has made significant strides in his role. Under his leadership, the EFCC has actively pursued high-profile cases. Notable prosecutions from 2023 include three former governors: Yahaya Bello (Kogi), Abdulfatah Ahmed (Kwara), and Darius Ishaku (Taraba).
Abdulfatah Ahmed is on trial alongside his former finance commissioner, facing 12 counts of money laundering and mismanagement involving N10 billion in public funds. Yahaya Bello is embroiled in two separate cases, with allegations involving staggering sums of N80.25 billion and N110.4 billion. Darius Ishaku faces trial for allegedly embezzling N27 billion, along with a former permanent secretary in Taraba State.
Former ministers are also under scrutiny. Olu Agunloye, who served as Minister of Power under President Olusegun Obasanjo, faces seven charges related to the fraudulent awarding of a $6 billion contract. Saleh Mamman, a minister under President Muhammadu Buhari, is being prosecuted for allegedly conspiring to launder N33.8 billion connected to the Mambilla hydroelectric project.
Additionally, several high-profile investigations are ongoing. These include Sadiya Umar-Farouk, former Minister of Humanitarian Affairs, accused of misappropriating N37.17 billion, and Betta Edu, former Minister of Humanitarian Affairs and Poverty Alleviation, who is being investigated for allegedly diverting N585.2 billion intended for poverty alleviation programs.
For an office with a four-year tenure, I believe Olukoyde’s first year in office has shown great promise. Many of us are hoping that he maintains this momentum.
