EFCC Moves to Combat Naira Abuse, Corruption

EFCC Moves to Combat Naira Abuse, Cultural Glorification of Corruption
The Economic and Financial Crimes Commission (EFCC) has called for a national cultural reorientation to address the widespread abuse of the naira and the public glorification of illicit wealth.

Speaking during a sensitisation forum held in Lagos over the weekend, EFCC Chairman Ola Olukoyede said the Commission is going beyond arrests and prosecutions to target social attitudes that normalize corruption.

“There’s nothing cultural about spraying or mutilating the naira,” Olukoyede said. “This is not about tradition. It is about national identity and economic stability. The naira is our sovereignty, and we must defend it.”

He recounted an incident where a former Nigerian governor, after leaving office, was arrested in the United Kingdom for spraying pound sterling during his birthday celebration.

“The hotel manager thought he was mentally unstable and called emergency services,” he said. The former governor was later handed over to the EFCC, prosecuted, jailed, and eventually pardoned.

Olukoyede emphasized that the EFCC is working to reverse the perception that public displays of questionable wealth equate to success. “Such actions promote a culture of impunity and have contributed to Nigeria’s deteriorating international reputation,” he said.

As part of its broader anti-corruption strategy, the Commission has launched a public enlightenment radio station, 97.3 FM, and is partnering with filmmakers, community leaders, and the National Orientation Agency (NOA) to promote civic values.

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“We’re not just fighting corruption in the courts. We’re fighting it in the minds of our people,” Olukoyede said.

Director-General of the NOA, Lanre Isa Onilu, also condemned the abuse of the naira, describing it as both illegal and unethical. “It is a matter of civic responsibility and national pride,” he said.

Olukoyede further revealed that a newly established fraud risk assessment unit has helped the EFCC prevent the theft of over ₦10 billion in the past year.

“The true measure of success is not just how many people we jail, but how much public money we save from being stolen in the first place,” he said.

He concluded by warning that corruption has damaged Nigeria’s global image, saying: “At one time, our passport granted visa-free access to 12 developed countries. Today, even Ghana and Cameroon’s passports are more respected.”