The Economic and Financial Crimes Commission (EFCC) has expressed serious concern over the extensive corruption within Nigeria’s power sector, calling it a significant barrier to national development.
During an oversight visit from the House of Representatives Committee on Financial Crimes, EFCC Executive Chairman Ola Olukoyede revealed that contractors responsible for supplying electricity equipment have been found cutting corners and using substandard materials, leading to frequent power outages and system failures. 
Olukoyede stated, “If you see some of the investigations we are carrying out within the power sector, you will shed tears,” underscoring the deep-rooted issues affecting the country’s infrastructure.
Olukoyede further emphasized that financial crimes within critical sectors are undermining Nigeria’s progress and reputation on the global stage.
He noted that addressing these issues is more cost-effective if focused on prevention rather than enforcement, revealing that the EFCC has established a directorate for risk assessment and control.
“The commission has increasingly focused on prevention,” he stated, highlighting the need for accountability and effective management to foster peace and development in Nigeria.
