Adeyanju Urges EFCC: Track State Revenues After N1.23 Trillion Recovery

• Lawyer Deji Adeyanju urged the EFCC to track state revenues, commending its recent successes in combating financial crimes.
• The EFCC recovered over N1.23tn, $684.48m, £373,905.78, and €9.34m between October 2023 and June 2026.
• During the same period, the agency secured 10,872 convictions from 14,476 cases filed.
• Adeyanju emphasized that the anti-corruption fight must prevent future diversion of public funds, not just recover past stolen assets.
• He highlighted the need for EFCC scrutiny due to increased state government revenues following petrol subsidy removal.

Adeyanju's advocacy extends beyond merely recovering misappropriated funds, stressing the critical importance of preventing the diversion of public resources in the first instance.

Deji Adeyanju, a prominent lawyer and public affairs commentator, has called upon the Economic and Financial Crimes Commission (EFCC) to intensify its monitoring of state revenues across Nigeria. This appeal comes in the wake of the anti-graft agency's significant recent successes in combating financial malfeasance and securing convictions. Adeyanju, in a statement released on Monday, specifically commended the EFCC for its achievements under the leadership of Chairman Ola Olukoyede, noting that the reported figures underscore the effectiveness of sustained efforts in the fight against economic and financial crimes.

He emphasized that these tangible results should encourage the commission to maintain its current momentum and expand its anti-corruption initiatives. The call for increased oversight on state funds aligns with a broader push for greater transparency in the utilization of public resources, particularly as states navigate new fiscal realities.

The commendation from Adeyanju was prompted by the EFCC Chairman, Mr. Ola Olukoyede, disclosing substantial recoveries and enforcement actions. Between October 2023 and June 2026, the Economic and Financial Crimes Commission successfully recovered over N1.23 trillion, $684.48 million, £373,905.78, and €9.34 million. During this same period, a significant portion of these recovered assets, specifically N661.32 billion and $492.37 million, was released to their rightful beneficiaries.

Beyond financial recoveries, the commission also demonstrated robust legal enforcement, securing 10,872 convictions out of 14,476 cases that were filed. These statistics, spanning the period from October 2023 to June 2026, were highlighted by Adeyanju as clear evidence that dedicated efforts can indeed yield substantial outcomes in the ongoing battle against corruption and financial misconduct within Nigeria.

Adeyanju's advocacy extends beyond merely recovering misappropriated funds, stressing the critical importance of preventing the diversion of public resources in the first instance. He argued that the anti-corruption campaign must evolve to proactively safeguard future public assets, rather than solely focusing on rectifying past financial crimes. A key driver for this heightened focus on prevention is the significant increase in revenues and fiscal inflows that state governments have experienced since the removal of the petrol subsidy.

Given these enhanced financial capacities, Adeyanju asserted that Nigerians possess a legitimate right to understand precisely how these additional resources are being deployed. He urged the EFCC, operating within its statutory mandate, to dedicate closer attention to credible allegations concerning the diversion or misuse of these funds. This includes meticulously tracing the money from its initial allocation through to its final expenditure, ensuring accountability and transparency in the management of state finances.

The call for the Economic and Financial Crimes Commission to track state revenues underscores a crucial shift in the national anti-corruption strategy, moving towards more proactive monitoring of public funds. Adeyanju's perspective highlights that while recoveries are vital, the comprehensive fight against corruption cannot be won through such actions alone; preventative measures are equally, if not more, essential. This increased scrutiny on state revenue utilization, particularly concerning funds derived from the petrol subsidy removal, signals a potential era of heightened accountability for state governments and entities receiving public funds.

The emphasis on following the money from allocation to expenditure suggests a more granular approach to financial oversight by the Nigerian anti-corruption body. This proactive stance aims to mitigate risks of diversion and misuse, ensuring that the increased fiscal resources available to states are genuinely applied for public benefit and development, thereby strengthening public trust in governance.

Lawyers advising Nigerian state governments or entities receiving public funds should anticipate heightened EFCC scrutiny on state revenue utilization, particularly post-subsidy removal. This necessitates robust financial transparency and compliance frameworks to mitigate corruption risks and potential investigations.

Source: Original reporting via Punch Newspapers.