Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), has called on accountants across Nigeria to adhere strictly to professional ethics and financial regulations to combat public sector fraud.
He asserted that fraud within the public sector is often facilitated by accountants.
Speaking at the 29th Annual National Conference of the Association of National Accountants of Nigeria (ANAN), Olukoyede, represented by Ahmed Pate, EFCC’s Director of Finance and Accounts, highlighted the critical role accountants play in enabling fraudulent activities.
Public sector fraud is rarely executed without the involvement of an accountant,” Olukoyede stated, emphasizing that accountants frequently play a central role in various forms of fraud, including embezzlement, procurement fraud, payroll fraud, and pension fraud.
He cited notable cases involving former Accountant Generals of the Federation who were indicted for fraud, one of whom was an ANAN Fellow.
This individual, according to Olukoyede, prioritized personal financial gain over professional and national duties, leading to the mismanagement of public funds.
Olukoyede also referenced several cases where accountants were convicted of misappropriating public funds and aiding in money laundering.
He urged ANAN to take stringent measures against unethical behavior, including revoking the licenses of members found guilty of fraud.
The EFCC’s call underscores the need for greater accountability and integrity within the accounting profession to curb corruption and financial misconduct in the public sector.
