The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has sounded the alarm over rising fraud in the electricity sector.
Olukoyede made this statement during a visit by the House of Representatives Committee on Anti-Corruption and Financial Crimes to the EFCC headquarters in Abuja on Tuesday.
He highlighted that the frequent collapse of the national grid is closely tied to fraudulent activities within the sector, particularly the use of substandard and poor-quality materials.
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Olukoyede said, “As I am talking to you now, we are grappling with electricity. If you see some of the investigations we are carrying out within the power sector, you will shed tears.
“People who were awarded contracts to supply electricity equipment, instead of using what they call 9.0 guage, they will buy 5.0.
“So, every time you see the thing tripping off, gets burnt, and all of that, It’s part of our problems.”
Meanwhile, the EFCC boss disclosed that the agency would be putting more energy into preventing crime than recovery in the coming days, adding that concentration would be more on the spending of ministries and agencies of the Government Agencies.
Meanwhile, the EFCC Chairman revealed that the agency will focus more on crime prevention than recovery in the coming days. He added that there will be increased emphasis on scrutinizing the spending activities of government ministries and agencies.
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