EFCC Chair Raises Concern Over Funding Shortfalls, Appeals To Senate For Support
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has expressed concern over inadequate funding, warning that it could hamper the commission’s ability to effectively carry out its mandate.
Olukoyede made this known on Tuesday before plenary, when he appeared before the Senate Committee on Anti-Corruption and financial crimes chaired by Sen. Emmanuel Udende, to present the EFCC’s expenditure performance for the 2025 fiscal year and its budget proposals for 2026.
According to him, only 50 percent of the commission’s capital allocation was released, a situation he said has affected critical operations.
He disclosed that contractors handling EFCC projects have not been paid, while licence providers essential to the commission’s investigative work are also yet to be serviced.
He explained that the EFCC received an approved appropriation of N92.22 billion for the 2025 fiscal year, out of which 74 percent had been released as of December 31, 2025.
The EFCC chairman further noted that the Federal Government operates an envelope budgeting system, which restricts agencies to predetermined spending limits.
As a result, the commission’s proposed capital expenditure for the current year stands at 22.8 billion naira representing 70 percent of the previous year’s capital allocation.
