EFCC accuses accountants of aiding public sector fraud

Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission, has issued a challenge to all accountants in the nation to uphold the nation's financial norms and ethics with greater vigour.

He asserts that it is hard to perpetrate fraud in any public sector without an accountant's help.

According to a statement released on Wednesday by Dele Oyewale, Head of Media and Publicity at the EFCC, Olukoyede made his remarks during a goodwill speech at the Association of National Accountants of Nigeria's 29th Annual National Conference.

Olukoyede asserted that accountants frequently assist all types of fraud, and he was accompanied in this assertion by Ahmed Pate, Director of Finance and Accounts.

"In fact, there is very little public sector fraud that is possible without the complicity of an accountant. Whether it is embezzlement, procurement fraud, payroll fraud or pension fraud, the enablers are often accountants.”.
A Fellow of ANAN prioritised financial interests over professional and national interests, according to Olukoyede's explicit statement.

"The Commission looked into and brought charges against two former Federation accountant generals for fraud," he stated. One of them, a Fellow of ANAN, put financial considerations ahead of professional and national interest in tampering with the national till, without endangering the ongoing legal proceedings.

Additionally, there have been accountants found guilty of embezzlement, converting public monies, and teaching their clients how to launder money.

He pleaded with the organisation to revoke the licenses of anybody found guilty of any fraudulent acts.

Olukoyede declared, "Those found to have broken these norms ought to face consequences, such as having their licence to practise as a deterrent to others.”
Olukoyede said that the EFCC wanted to see the accounting profession become more accountable and effective so that all citizens would be able to trust it. He thus encouraged ANAN to take up the mantle of strictly enforcing rules of appropriate professional behaviour among its members.