The Accountant-General of the Federation (AGF), Dr. Shamseldeen Babatunde Ogunjimi, has raised alarm over severe revenue losses plaguing Nigeria’s financial system.
The disclosure came during his official visit to EFCC Chairman Ola Olukoyede at the anti-graft agency’s headquarters in Abuja.
According to an EFCC statement released Wednesday, Ogunjimi highlighted systemic financial loopholes that continue to drain national coffers. The revelation comes amid growing scrutiny of fiscal management following recent budget padding allegations involving multiple government ministries
The AGF requested the EFCC’s assistance in “blocking shortages and leakages in revenue streams across the country in order to fund the 2025 budget and ensure a saner and sound financial system in Nigeria.”
Ogunjimi emphasised that the Office of the Accountant-General of the Federation (OAGF) and the EFCC share common and mutually beneficial interests in financial matters and cannot achieve better results without effective collaboration.
“It is because of the strategic position of this office to our organization—the OAGF—that we believe we cannot make further progress or achieve better results without effective collaboration with this Commission.
“Currently, the country is witnessing a lot in terms of revenue leakages and shortages, and so we believe that for us to be able to perform or achieve our mandate, we need your support and collaboration,” he said.
He specifically sought the EFCC’s support in tracing fraudulent transactions and blocking leakages to enable the government to fund the budget and pay salaries.
In response, Olukoyede pledged the Commission’s commitment and support in blocking and stopping leakages in Ministries, Departments, and Agencies.
“We want to pledge our commitment and support to ensure that we create a more stable and sound financial system in Nigeria. That is part of our mandate. We share a similar mandate, and it is also important for us to carry out our activities in the most accountable and transparent manner,” she stated.
Olukoyede maintained that through collaboration, both the EFCC and OAGF can manage and harness Nigeria’s abundant resources, thereby funding various projects in the country.
He said Nigeria is highly resourceful, but relevant stakeholders need to come together and effectively manage these resources to fund projects in Nigeria.
What You Should Know
This development comes almost a year after the Office of the Accountant-General denied a breach of the payroll system, stating that employees’ data was safe.
Recent media reports had raised concerns about potential security breaches in Nigeria’s Integrated Personnel and Payroll Information System (IPPIS).
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