EFCC Strengthens Pact With NEITI in Tackling Extractive Fraud

The Economic and Financial Crimes Commission, (EFCC) and Nigeria Extractive Industries Transparency Initiative, (NEITI) have resolved to strengthen their collaboration towards seeing better performance from Nigeria’s extractive industries.

This pact was made on Wednesday, January 21, 2026 when Honourable Musa Sarkin Adar, NEITI’s Executive Secretary led his management team on a courtesy visit to Ola Olukoyede, the Executive Chairman of EFCC at the Commission’s corporate headquarters in Jabi, Abuja.

Addressing Adar, Olukoyede stated that the extractive industry was the mainstay of the Nigerian economy and enjoined Adar to see his appointment as an opportunity to oversee and monitor transparency and accountability processes in an industry that continues to sustain the economy of Nigeria. 

The EFCC’s boss recalled that the Commission has been working together with NEITI over the years, “but upon my appointment as Chairman of EFCC we took it to the next level. Your report is like raw materials for us to work with and with your report over the years, we have been working and making recoveries.

“I can also promise you that in your own time, we will collaborate with you, probably more than we did with your predecessor. We want to continue and strengthen our collaboration and take it to another level.”

Speaking further, the EFCC boss noted that the enhanced collaboration may see improvements on the existing Memorandum of Understanding between the two agencies of government.

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“We have an MoU with your organization. We’re going to review it and see what we need to improve on.  Your Act may not have given you teeth, but mouth and hand to work, but we will lend you our teeth to bite from time to time,” he said.

In his remarks, Adar, who was appointed in November 2025,  disclosed that the visit was in line with his prioritisation of critical stakeholders’ engagement, pursuant to NEITI’s mandate and his desire to enhance the existing EFCC-NEITI collaboration.

“I prioritize engagement with key institutions whose statutory mandate align closely with NEITI’s responsibility to promote transparency and accountability in Nigeria’s explorative sector. I’ve been extensively briefed on strategic partnership between our agencies and the commendable work being carried out over the years. I wish to commend the effort of both agencies and to use this opportunity to ensure ways of further strengthening our existing partnership.

He further stressed that the meeting provided the opportunity to reaffirm the strong institutional relationship between NEITI and the EFCC under the existing Memorandum of Understanding and to renew shared commitment to addressing systemic weaknesses that undermine the effective governance of the extractive sector, particularly as Nigeria prepares to host EITI, the global partner body.