{"id":70143,"date":"2025-07-10T05:32:01","date_gmt":"2025-07-10T05:32:01","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=70143"},"modified":"2025-07-10T05:32:01","modified_gmt":"2025-07-10T05:32:01","slug":"efcc-boss-seeks-law-on-unexplained-wealth-decries-oil-sector-fraud","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/07\/10\/efcc-boss-seeks-law-on-unexplained-wealth-decries-oil-sector-fraud\/","title":{"rendered":"EFCC Boss Seeks Law on Unexplained Wealth, Decries Oil Sector Fraud"},"content":{"rendered":"<p><strong>By Samuel Adeola<\/strong><\/p>\n<p>The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has urged the National Assembly to pass the Unexplained Wealth Bill, stating that Nigeria cannot win the fight against corruption without it.<\/p>\n<p>Speaking in Abuja at a national conference on fiscal governance, Olukoyede lamented the bill\u2019s rejection by the previous Assembly and stressed its importance in holding individuals accountable for wealth beyond their legal income.<\/p>\n<p>\u201cWe can\u2019t get it right unless we make people explain the sources of their wealth,\u201d he said.<\/p>\n<p>He revealed that recent EFCC investigations have uncovered massive corruption in the oil and gas sector, calling the discoveries &#8220;mind-boggling&#8221; and noting that the agency is just getting started.<\/p>\n<p>Olukoyede also linked corruption to Nigeria\u2019s insecurity, citing diversion of funds meant for development as a root cause of terrorism and kidnapping.<\/p>\n<p>He questioned the logic behind requiring proof of predicate offences when individuals live far beyond their means, and shared the difficulty of recovering looted assets abroad, mentioning a Nigerian-owned estate found in Iceland.<\/p>\n<p>Despite mounting evidence against some high-profile individuals, Olukoyede expressed concern that they continue to receive public praise, urging a collective commitment to transparency and accountability to curb borrowing and revive the economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Samuel Adeola The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has urged the National Assembly to pass the Unexplained Wealth Bill, stating that Nigeria cannot win the fight against corruption without it. Speaking in Abuja at a national conference on fiscal governance, Olukoyede lamented the bill\u2019s rejection by the previous [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":70144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-70143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/70143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=70143"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/70143\/revisions"}],"predecessor-version":[{"id":70145,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/70143\/revisions\/70145"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/70144"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=70143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=70143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=70143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}