Ola Olukoyede, executive chairman of the Economic and Financial Crimes Commission (EFCC), has identified public sector corruption, particularly procurement and contract fraud, as Nigeria?s most significant challenge.

According to him, these issues account for over 90 percent of fraud in the public sector.

Olukoyede made this known during a meeting with Adebowale Adedokun, the newly appointed director-general of the Bureau of Public Procurement (BPP), and his team on Friday, at the EFCC?s corporate headquarters in Abuja.

?In the EFCC, we handle both private and public sector fraud. Public sector fraud, which is a major problem in Nigeria, reveals that contract and procurement fraud makes up more than 90 percent of public sector fraud cases.

?These range from commingling and contract splitting to various other manipulative practices,? Olukoyede said.

He linked the nation?s developmental challenges, especially in infrastructure, to the prevalence of procurement fraud and called for concerted efforts to tackle the menace.

?If we can work together, we will be able to leave this country better than we met it,? he added.

The EFCC chairman also emphasised the need for stronger collaboration between the EFCC and the BPP, particularly in project implementation and monitoring.

Highlighting the importance of accountability, he stressed, ?There is no hiding place for BPP, and there is no hiding from the EFCC. That?s the truth.?

In his response, Adedokun assured the EFCC and Nigerians of the Bureau?s commitment to reforming procurement processes.

He noted that his leadership is focused on ensuring transparency and restoring public confidence.

?We are here to reassure you and 220 million Nigerians that they can rest easy knowing procurement is being handled properly.

?We want the EFCC to trust our documents without doubts during investigations. Nigerians need to know it is no longer business as usual. We have started a new chapter,? Adedokun said.

The BPP boss pledged to use procurement as a tool for good governance, ensuring that public funds are used effectively.

?Every kobo spent on goods, works, and services will reflect value. While we acknowledge past mistakes, we are now committed to doing things differently,? he stated. (BusinessDay)

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