Ola Olukoyede, EFCC Chairman: Profile of a dedicated anti-corruption crusader

Ola Olukoyede, EFCC Chairman: A Profile of a dedicated anti-corruption crusader

• New Chairman emerged first southerner to head the EFCC since its establishment 21 years ago

Newly appointed Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede is special kid on the block who is eager to transform the anti-graft agency for better. At his screening and confirmation by the Senate, he vowed to introduce innovative approach by preemptively tackling fraud from the root base.

Addressing the Senate plenary during his screening, Olukoyede was forthright in his delivery and dropped some figures about existing fraud in the system. For instance, he said tax payers lost N2.9trillion in just two years (2018 -2020) to contracts and procurement fraud alone.

According to him, “Between 2018 and 2020, Nigeria lost N2.9trilion to contract and procurement fraud.” The amount, he noted, was enough to pay for the construction of at least 1,000 kilometres of roads, build close to 200 standard tertiary institutions, and educate about 6,000 children from primary to tertiary levels at N16million per child.

Giving clarifications as to the investigative powers of the commission, the newly confirmed EFCC boss declared   that as EFCC chairman, he was at liberty to investigate even the President of the Senate.

He, however, promised not to abuse power, while vowing to be accountable to the Nigerian people as well as ensure transparency and taking preventive measures to reduce, if not eliminate long-drawn litigations

 Ola Olukoyede is a thorough-bred lawyer with over twenty-two (22) years of experience at the Bar, as well as a regulatory compliance consultant, who specializes in compliance management, corporate intelligence, and fraud management.

He is a certified fraud examiner who has led investigations and civil litigation of fraud and financial crimes in international development projects. He specializes in anti-corruption research and analysis, corporate and business intelligence gathering, and processing.

Academic background 

Born in Ikere-Ekiti, Ekiti State, on October 14, 1969, he had his university education in Lagos State University (LASU), Ojo; University of Lagos, Akoka; Institute of Arbitration ICC – Paris, France and University of Harvard (Kennedy School of Executive Education).

Career 

He worked as a lawyer at the law firm of former Vice President Yemi Osinbajo before he clinched the EFCC job. At EFCC, he had an extensive career as a certified fraud examiner, leading and managing the investment which includes civil litigation of fraud and financial crimes for international development projects.

He also served as the Chief of Staff Chief of Staff to the Executive Chairman (2016-2018) and Secretary to the Commission (2018-2023) which qualified him to be appointed as chairman of the commission.

On November 28, 2018, the Senate confirmed Olanipekun Olukoyede as the Secretary to EFCC which is by section 2(3) of the 2004 Act that established the commission.

Olukoyede served as the Chief of Staff to the former EFCC Chair, Ibrahim Magu, who was appointed on September 10, 2018, by former President Muhammadu Buhari.

He is a member of the Fraud Advisory Panel (UK), and also a member, of the Federal Government Technical Committee on the Repositioning of the Nigerian Financial Intelligence Unit.

He is also a pastor of the Redeemed Christian Church of God (RCCG).

Interesting, Olukoyede is the first southerner to be appointed EFCC Chairman since the establishment  in December, 2002 (21 years ago).