The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has issued a stark warning about the prevalence of fraud in the electricity sector, which he links to the ongoing issues with the national grid.
His comments came during a visit from the House of Representatives Committee on Anti-Corruption and Financial Crimes to the EFCC headquarters in Abuja.
Olukoyede pointed out that the frequent collapses of the national grid are often the result of contractors using substandard materials for electrical infrastructure projects. He revealed that investigations have shown that some contractors, who were supposed to provide high-quality equipment, are instead supplying inferior products. “Instead of using what they call 9.0 gauge materials, they will buy 5.0,” he explained. “This is why we see equipment tripping off and burning out frequently these issues are part of the broader problem.”
The EFCC chairman emphasized the urgency of these investigations, stating, “If you see some of the investigations we are carrying out within the power sector, you will shed tears.” He also announced that the agency plans to focus more on crime prevention rather than recovery in the coming days, with a particular emphasis on scrutinizing the expenditures of various government ministries and agencies.
