Prominent Nigerian lawyer, Bukky Olukayode Esq., has called out the Economic and Financial Crimes Commission (EFCC) for withholding recovered funds from rightful complainants, a practice she claims is causing undue financial hardship and eroding public trust. In an open letter addressed to EFCC Chairman, Mr. Ola Olukoyede, Olukayode raised serious concerns about the commission’s handling of recovered funds, urging immediate reforms to ensure justice for victims of financial crimes.
Titled "Why Is the EFCC Chairman Imposing Hardship and Losses on Complainants by Holding On to Their Recovered Funds?", the letter highlights a troubling case involving a complainant whose recovered funds have been held by the EFCC for over four months. Olukayode stressed that inflation has steadily reduced the purchasing power of the withheld funds, leaving the victim worse off despite the recovery.
“The EFCC is mandated to combat financial crimes and deliver justice for victims, but delays in returning recovered funds undermine this mission,” Olukayode wrote. “Victims turn to the EFCC for justice, not for additional hardships caused by unnecessary bureaucratic inefficiencies.”
She pointed out that the delay penalizes victims twice—first by the perpetrators of financial crimes and then by institutional lapses. According to Olukayode, the loss of value caused by inflation only deepens the financial distress of victims, raising questions about the EFCC’s internal processes.
Olukayode’s letter warned that such practices could tarnish the EFCC’s credibility, as prolonged delays might give the impression that the commission is either unresponsive or complicit in perpetuating victims’ suffering.
“Transparency and accountability are critical to maintaining public trust,” she said. “The EFCC must prioritize the swift release of recovered funds to complainants and implement clear timelines to avoid further harm.”
The lawyer emphasized that victims expect efficiency, not additional burdens, from the EFCC. She called on the agency’s leadership to establish systems that ensure prompt disbursement of recovered funds while maintaining public accountability.
“Every delay casts a shadow over the EFCC’s credibility and raises doubts about its commitment to victims’ welfare,” Olukayode noted. “The question remains: Why is the EFCC chairman holding on to these funds, and when will victims see the justice they rightfully deserve?”
