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What N2.9 Trillion Stolen Under Buhari In Two Years Could Have Done – EFCC Chairman



Olu Olukoyede, barely three months in office as chairman, Economic and Financial Crime Commission, EFCC, says that no less than N2.9 trillion was stolen between 2018 and 2020 under contracts and procurements, one out of 50 subheads of corruption that the commission is investigating.

Shockingly, too, he itemized the gains in terms of human and economic development that such humongous amount could have created if properly invested.

Olukoyede made this assertions in viral video in circulation on TikTok, a short-form video hosting service. DDM’s preliminary analysis on the clip rules out any manipulations.

Endemic corruption in governance has been a perennial problem defying attempts at taming it in Nigeria.

But Olukoyede’s submission in the video provides clear, graphic losses to the country that corruption fosters.

According to the EFCC boss, N2.9 trillion if properly channeled can among many other things, build 20, 000 units of three bedroom flats across the country.

It can, in addition, begin and complete 1, 000 kilometer of federal roads. With same money, in addition, 6, 000 children could be educated from primary, secondary and to tertiary institutions on N16 million per child.

This is also in addition to building 200 hundred additional universities across the country, analyzed the EFCC boss in the video.

Olukoyede would not be first EFCC chairman who has called out the mind blowing state of looting resources in the country.

In 2007, Nuhu Ribadu, first chairman of the commission made similar refrain but in a more expansive context. According to him, no less than $400 billion has been looted from the country in five decades. Those money, he said, if lined in a straight line could reach from earth to the moon.

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