EFCC Chairman: How I Could Have Ended Up in Jail

• EFCC Chairman Olukoyede avoided jail by rejecting bids from relatives during an auction of forfeited assets

• He emphasized ethical decision-making, highlighting risks of conflicts of interest in public office during an Abuja anti-corruption event

The Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede, has revealed how he narrowly avoided jail during the commission’s investigation.

Speaking on Thursday at an event in Abuja themed “Ethics, Integrity, Corruption Risk Assessments, and Anti-Corruption at National and Sub-National Levels in Nigeria: Sustaining the Fight Against Corruption,” Olukoyede shared his experience as EFCC Secretary.

According to him, the issue arose when he rejected bids from his brother-in-law and elder brother, who attempted to participate in an auction of forfeited assets.

“I was statutorily in charge of managing forfeited assets. With my chairman at the time, we decided to form a committee for asset forfeiture. We selected a team of six directors, including myself as chairman,” he explained.

Olukoyede noted that after advertising for auctioneers, the commission shortlisted 11 applicants. However, his brother-in-law, an international auctioneer, also applied.

“When I saw his application, I shredded it. My assistant, who knew him, later informed him. For six months, he refused to speak to me. Still, we went ahead with the auction,” he said.

His elder brother also reached out, requesting assistance in securing a bid.

“He called me and said he heard about the auction and wanted to participate for his business. I told him to read the conflict of interest rules. No EFCC staff or their immediate family members were allowed. He said they could use another name, but I knew what that meant,” he added.

About eight months later, a panel was set up to investigate EFCC’s activities. Olukoyede and his then-chairman were suspended during the probe.

“They investigated the Port Harcourt auction I supervised. What would have happened if they had found my brother-in-law’s name among the auctioneers? Probably, I’d be in jail today,” he stated.

Olukoyede’s story underscores the importance of ethical decision-making and avoiding conflicts of interest in public office.