EFCC: New Gift Declaration Policy Nigeria to Boost Internal Integrity

• The EFCC has introduced a new policy requiring its officers to declare assets above a specified threshold, including gifts from relatives abroad.
• EFCC Chairman Ola Olukoyede disclosed that over 40 personnel have been dismissed for corruption and financial malpractice under his leadership.
• This internal reform aims to enhance the credibility of the anti-graft agency amid Nigeria's persistent corruption challenges.
• Between October 2023 and July 2026, the EFCC recovered N1.23 trillion and $684.48 million in crime proceeds and secured 10,872 convictions.
• Nigeria ranked 142nd out of 182 jurisdictions in Transparency International’s 2025 Corruption Perceptions Index, scoring 26 out of 100.

The newly introduced EFCC new gift declaration policy Nigeria mandates that all officers report assets exceeding a predetermined value, specifically including gifts received from relatives residing abroad.

The Economic and Financial Crimes Commission (EFCC) is implementing significant internal reforms, including a new policy requiring its officers to declare gifts and assets above a specified threshold. This move, spearheaded by current EFCC Chairman Ola Olukoyede, signals a renewed focus on integrity within the anti-graft agency itself, addressing concerns about its credibility and past operational inconsistencies.

Chairman Olukoyede recently revealed that more than 40 EFCC personnel have been dismissed for corruption and financial malpractice since he assumed office. Of these, over five are already facing trial, with case files reportedly being prepared for others. This proactive stance on internal accountability underscores the agency's commitment to rooting out corruption within its own ranks, a critical step for an institution tasked with policing national corruption.

The newly introduced EFCC new gift declaration policy Nigeria mandates that all officers report assets exceeding a predetermined value, specifically including gifts received from relatives residing abroad. This comprehensive approach acknowledges that illicit gains can often be disguised as legitimate gifts, favors, or even international packages, rather than overt bribes. The Economic and Financial Crimes Commission gift rules are designed to close these potential loopholes and ensure greater transparency.

This internal anti-corruption measure by Ola Olukoyede's leadership draws parallels with international precedents. For instance, Hong Kong's Independent Commission Against Corruption (ICAC) tightened its own rules on entertainment, gifts, and overseas travel after its former Commissioner, Timothy Tong, faced scrutiny between 2007 and 2012 over lavish entertainment and expensive gifts. Although Tong was eventually cleared in 2016 due to insufficient evidence for a criminal conviction, the incident prompted the ICAC to strengthen its internal compliance, demonstrating how such policies are crucial for maintaining an anti-corruption body's reputation.

Despite ongoing efforts, Nigeria continues to grapple with a pervasive corruption problem. Former President Muhammadu Buhari stated in 2015 that the nation had lost an estimated $150 billion to theft within the oil industry alone. Corruption allegations have also touched various sectors, including the military, former ministers, and senior civil servants, leading to asset seizures and forfeiture proceedings.

International assessments reflect this persistent challenge. In Transparency International’s 2025 Corruption Perceptions Index, released in February 2026, Nigeria ranked 142nd out of 182 jurisdictions, scoring only 26 out of 100. This represented a fall from its 140th position in the 2024 index, with its score unchanged, and hardly indicates a significant turnaround. Furthermore, the National Bureau of Statistics has estimated the prevalence of corruption in the public sector at a substantial 32.3 percent, highlighting the systemic nature of the issue that Nigeria anti-graft agency compliance updates aim to combat.

While focusing on internal reforms, the EFCC has also maintained significant external enforcement activities. Between October 2023 and July 2026, the agency reported recovering N1.23 trillion and $684.48 million in proceeds of crime. During this period, it processed 49,673 petitions and investigated 39,614 cases.

Out of 14,476 cases that reached the courts, the EFCC secured 10,872 convictions. Additionally, interim and final forfeiture orders were issued for 10,053 assets. These figures underscore the substantial efforts by the commission in combating financial crimes and demonstrate the scale of Nigeria anti-corruption enforcement changes being implemented, even as it addresses its own internal vulnerabilities through measures like the new EFCC asset declaration threshold.

This article highlights the EFCC's new policy requiring officers to declare gifts and assets above a specified threshold, including those from relatives abroad. Lawyers and compliance officers should be aware of this stricter internal stance, as it indicates a renewed commitment to integrity within the anti-graft agency, potentially leading to more rigorous enforcement and scrutiny in external corruption cases. This may necessitate reviewing client interactions with EFCC officials and internal compliance guidelines on gifts and benefits.

Source: Original reporting via The PUNCH