Olukoyede Urges Nigerian Youths to Reject Corruption as Nigeria Loses $18bn Annually

August 26, 2025

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has implored Nigerian youths to actively resist corruption and financial crimes, stressing that their integrity is foundational to the nation’s progress.

Delivering the message on Monday at the 13th Annual Teenagers’ Workshop hosted by Al-Habibiyyah Islamic Society in Mararaba, Olukoyede represented by EFCC Assistant Commander Aisha Mohammed lamented the deep-rooted nature of corruption in Nigeria and urged the younger generation to be at the forefront of change.

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“You matter most to us because you are the future of this country… Corruption is the reason we have poor hospitals, bad roads, substandard schools and a failing educational system. Do not wait. Fight it. Resent it wherever you see it happening” he declared.

“The moment you lose integrity, you lose everything. Make integrity your trademark. So join hands with the EFCC to drive corruption out of Nigeria.”

During an interactive session, EFCC Assistant Superintendent Ilyasu Bala distinguished the mandates of Nigeria’s anti-graft agencies: The EFCC tackles financial crimes such as money laundering, fraud, illicit financing, and asset seizure, while the ICPC focuses on public sector corruption, including embezzlement, abuse of office, and unethical conduct by public officials.

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Habiba Ahmed, Director of Empowerment at Al-Habibiyyah Islamic Society, lauded the EFCC’s youth engagement efforts, emphasizing the importance of instilling values of leadership, integrity, and civic responsibility in teenagers. She also encouraged them to spread the anti-corruption message widely.

Nigeria continues to lose staggering amounts of money each year to corrupt practices. According to economic researchers, the country forfeits about $18 billion annually to corruption and fraudulent procurement processes, a figure equivalent to nearly 3.8% of its GDP.

On the other hand, the EFCC has reported progress in recovering illicit funds, announcing that it recovered nearly $500 million in misappropriated assets within a year. However, experts warn that despite these recoveries, systemic corruption and cyber-enabled financial crimes remain a heavy drag on Nigeria’s economic growth and global reputation.

Analysts say youth-focused anti-corruption campaigns are not just symbolic but essential. With more than 60% of Nigeria’s population under 25, the fight against corruption will ultimately depend on whether the next generation embraces transparency and accountability over self-enrichment.

By targeting teenagers early, the EFCC hopes to nurture a culture of integrity that could gradually shift Nigeria away from entrenched patterns of graft laying the foundation for stronger institutions, better governance, and sustainable economic growth.

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Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.

Amanze Chinonye

Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.

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