EFCC Decries Underfunding, Seeks Senate Intervention

By Mercy Omotosho

The Chairman of Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has warned that persistent funding constraints could undermine the commission’s capacity to effectively combat financial crimes across the country.

Olukoyede raised the concern on Tuesday while appearing before the Senate Committee on Anti-Corruption and Financial Crimes, chaired by Senator Emmanuel Udende, ahead of plenary.

The session focused on the EFCC’s budget implementation for the 2025 fiscal year as well as its proposals for the 2026 budget.

The commission has so far received only half of its approved capital allocation, a shortfall he said has disrupted key operational activities. He disclosed that several contractors executing EFCC projects remain unpaid, while service providers supplying critical investigative licences are also yet to receive payment.

Providing details of the commission’s finances, Olukoyede stated that the EFCC was allocated N92.22 billion in the 2025 Appropriation Act. However, as of December 31, 2025, only 74 per cent of the total approved funds had been released.

He further explained that the Federal Government’s envelope budgeting framework, which sets fixed spending ceilings for agencies, continues to limit the commission’s financial flexibility.

Under this arrangement, the EFCC’s proposed capital budget for the current year is N22.8 billion, representing about 70 per cent of its capital allocation in the previous year.

Olukoyede appealed to the Senate for support, stressing that improved funding is crucial for the commission to sustain its operations and effectively deliver on its anti-corruption mandate.