EFCC calls for improved financial discipline, integrity in MDAs

The chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has advocated for increased financial integrity and discipline in the management of the nation’s ministries, departments, and agencies (MDAs).

He made the appeal in Abuja at the Commission’s corporate offices while hosting a team from the Financial Reporting Council of Nigeria, or FRCN, which was led by its executive secretary, Dr. Rabiu Olowo.

Financial integrity and discipline, according to Olukoyede, are essential for promoting the nation’s economic progress.

He challenged MDAs to improve on their financial reporting, pointing out that the Commission will devote more attention to their internal cleansing.

He stressed that, the administration of President Bola Ahmed Tinubu was serious about moving the country forward and all appointees of the government must demonstrate more responsibility and integrity in carrying out their assignments.

The EFCC boss assured Olowo of improved collaboration and synergy, maintaining that, there are several mutual grounds that can be covered by the two agencies.

Earlier, Rabiu Olowo, Executive Secretary of the Financial Reporting Council of Nigeria, FRCN, urged for increased collaboration with the EFCC, particularly in addressing issues connected to the compromise of corporate governance principles and the enforcement of standards in private and public companies.

He noted startling parallels between the EFCC and his Council, emphasizing that the two organizations’ essential values are the same.

He also sought the EFCC’s assistance in addressing the enforcement of standards in financial reporting and the strengthening of corporate governance regulations.