The Economic and Financial Crimes Commission (EFCC) has accused accountants of playing a significant role in aiding public sector fraud. According to EFCC Chairman, Ola Olukoyede, it’s challenging to commit fraud in the public sector without an accountant’s involvement ¹. Olukoyede emphasized this while addressing the 29th Annual National Conference of the Association of National Accountants of Nigeria.
He stated that accountants often enable various forms of fraud, including embezzlement, procurement fraud, payroll fraud, and pension fraud. Olukoyede cited instances where accountants, including two former Accountant Generals of the Federation, were investigated and indicted for fraud. Some accountants were also convicted for converting public funds and laundering money [1).
To address this issue, Olukoyede urged the Association of National Accountants of Nigeria (ANAN) to enforce stricter codes of conduct among its members. He recommended withdrawing licenses from accountants found guilty of fraudulent activities to serve as a deterrent [1).
The EFCC aims to promote a more responsible and efficient accounting profession that earns citizens’ trust. By working together, the EFCC and ANAN can combat public sector fraud and ensure accountability.
