EFCC Boss Exposes Shocking New Trick Politicians Use to Hide Looted Billions

The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has raised alarm over a growing trend where public officers allegedly file fraudulent anticipatory declarations of assets as a cover for looting public funds.

Speaking at the launch of a Virtual Tool on the Code of Conduct for Public Officers—organised by the Code of Conduct Bureau in collaboration with the Technical Unit on Good Governance and Anti-Corruption Reforms—Olukoyede revealed that EFCC investigations have uncovered instances where politically exposed persons declare assets that do not yet exist in order to legitimise illicit wealth in the future.

He recounted a recent case in which a property valued at over ₦3 billion was declared in a Code of Conduct Bureau form, but the listed address did not match the actual location. Further inquiries revealed that the declaration was made before the property was even constructed.

Olukoyede urged the CCB leadership to adopt innovative methods in probing such practices, describing them as a sign of how “criminally smart” some corrupt officials have become.

The Attorney General of the Federation, Lateef Fagbemi, who was also present, stressed that ethical conduct remains the foundation of effective public service, commending the virtual tool as a milestone in digitising public accountability systems.

CCB Chairman Abdullahi Usman Bello said the platform will improve transparency, make officials more accountable, and educate them on the rules guiding their duties.