Contracts, procurement frauds cost Nigeria N2.9trn in 3 years — Olukoyede, new EFCC boss
•Senate confirms Olukoyede chairman, Hammajoda secretary •Says anti-graft war, a collective decision THE Senate has confirmed Ola Olukoyede as the chairman of the Economic and Financial Crimes Commission, EFCC. The appointment of Muhammad Hammajoda as secretary of the anti-graft agency was also confirmed. The confirmation of both men followed their screening by the upper chamber, about a week after they were appointed by President Bola Tinubu. Responding to questions from senators before the confirmation, Olukoyede said tax payers lost N2.9 trillion in just two years (2018 -2020) to contracts and procurement fraud alone. He said: "Between 2018 and 2020, Nigeria lost N2.9 trillion to contract and procurement fraud.” The amount, he noted, was enough to pay for the construction of at least 1,000 kilometres of roads, build close to 200 standard tertiary institutions, and educate about 6,000 children from primary to tertiary levels at N16 million per child. Giving clarifications...