The EFCC Chairman urged the Code of Conduct Bureau (CCB) to be vigilant against such “criminal creativity” and to intensify investigations using modern, technology-driven methods to curb corruption
Inside the Scam: EFCC Boss Unmasks How Public Officials Fake Asset Declarations to Cover-up Future Looting
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has exposed a sophisticated corruption tactic used by some public officers — the “anticipatory declaration of assets” — designed to mask future looting of public funds.
Speaking in Abuja on Tuesday, August 12, 2025, at the launch of the Virtual Tool on the Code of Conduct for Public Officers, Olukoyede revealed that this fraudulent practice involves declaring assets that do not yet exist, giving corrupt officials cover to later acquire them illicitly.
He recounted one startling example uncovered during an EFCC investigation:
“We discovered one very big property valued at over N3 billion declared in a CCB form. The declared address did not match the actual location of the property. We dug deeper and found that the property didn’t even exist at the time it was declared.”
Olukoyede urged the Code of Conduct Bureau (CCB) to be vigilant against such “criminal creativity” and to intensify investigations using modern, technology-driven methods to curb corruption.
The launch event, organised by the CCB in collaboration with the Technical Unit on Good Governance and Anti-Corruption Reforms (TUGAR), also drew remarks from other top government officials.
The Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi, underscored the importance of integrity in governance, describing ethics and standards as the “bedrock of public service.” Applauding the CCB’s digital initiative, he called it “a milestone in digitizing public conduct oversight, promoting preventive compliance, and raising awareness.”
Head of Service, Mrs. Didi Esther Walson-Jack, highlighted the role of technology in driving transparency and reform:
“Without conduct and ethics, no reform will last. This tool is accessible, cost-effective, and promotes transparency through tracking and compliance.”
In his opening remarks, CCB Chairman Abdullahi Usman Bello assured that the new virtual tool would enhance accountability and guide public servants step-by-step on rules and regulations. Read More
