The Economic and Financial Crimes Commission (EFCC) has warned local government chairmen across Nigeria to be prudent and accountable in managing public funds.
EFCC Chairman Ola Olukoyede emphasized that local government chairmen do not have immunity from investigation or prosecution for fraud.
Key Highlights of Olukoyede’s Warning
– No Immunity: Local government chairmen do not have immunity from investigation or prosecution for fraud.
– Real-Time Monitoring: The EFCC will monitor local government funds closely and periodically.- Accountability: Chairmen are urged to establish a compliance unit to monitor resource allocation and project implementation.
– Consequences: The EFCC will prosecute any misuse of funds.
Olukoyede’s warning comes amidst concerns over the management of local government funds in Nigeria. The EFCC has established a Fraud Risk Assessment and Control (FRAC) Department to conduct financial oversight visits to councils and ensure funds are properly utilized.