Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has described the scale of corruption uncovered at the Nigerian National Petroleum Company Limited (NNPCL) as “mind-boggling,” revealing that a sweeping investigation into Nigeria’s oil and gas sector has already exposed significant financial misconduct despite being in its early stages.
Speaking on the third day of the National Conference on Public Accounts and Fiscal Governance, organized by the Senate and House of Representatives Public Accounts Committees, Olukoyede said the EFCC’s recent deep-dive into the extractive industries has only scratched the surface, yet already reveals a troubling picture.
He said, “In the last three weeks, we launched a commission-wide investigation into the extractive industry, particularly oil and gas. What we have discovered is mind-boggling.
“And we have only just opened the books. If this is what we’re seeing at the surface, imagine what lies beneath.”
