The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns about a growing trend among public officials: the fraudulent practice of anticipatory asset declaration—where assets not yet acquired are falsely declared in advance to legitimize future corruption.
This revelation was made on Tuesday, August 12, 2025, in Abuja, during the launch of a new Virtual Tool on the Code of Conduct for Public Officers. The event was organized by the Code of Conduct Bureau (CCB), in collaboration with the Technical Unit on Good Governance and Anti-Corruption Reforms (TUGAR).
In a goodwill message, Olukoyede explained how some politically exposed individuals exploit the asset declaration process. He described a recent EFCC investigation in which a public officer declared ownership of a property worth over ₦3 billion—but further scrutiny revealed the property did not exist at the time of the declaration. Additionally, the declared address did not match the actual location of the property.
“We found a major anomaly in the asset declaration form. After deeper investigation, it became clear the property was declared long before it even existed. This is a tactic used to give cover for future corrupt acquisitions,” Olukoyede said.
He called on the leadership of the CCB to adopt more innovative investigative methods to detect and prevent such fraudulent practices.
Speaking at the event, the Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi, emphasized that adherence to standards and ethical behavior remains the cornerstone of public service. He commended the launch of the digital tool, describing it as a step forward in promoting preventive compliance and public awareness.
The Head of the Civil Service of the Federation, Didi Esther Walson-Jack, also highlighted the importance of technology in governance. “We must use technology to solve problems—it is faster, smarter, and more transparent. Without ethics, no reform can be sustained,” she stated, praising the new tool for its accessibility, transparency, and cost-effectiveness.
Chairman of the Code of Conduct Bureau, Abdullahi Usman Bello, in his opening remarks, noted that the tool would enhance accountability and help educate public servants on the ethical and procedural standards expected of them.
“The tool simplifies the process, promotes high ethical standards, and ensures compliance with rules and regulations guiding public service,” he said.
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