EFCC chairman warns of ‘anticipatory looting’ as politicians declare fictitious assets before assuming office

BLESSING  OMALE, Abuja

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has exposed a disturbing new tactic being used by some politicians to evade anti-corruption scrutiny, declaring ownership of assets they do not yet possess before assuming office.

Speaking on Tuesday at the launch of a virtual tool on the code of conduct for public officers in Abuja, Olukoyede described the practice as “anticipatory looting”, a premeditated ploy by public officials to legitimise illicit wealth they plan to acquire while in office.

The event, organised by the Code of Conduct Bureau (CCB) in partnership with the Technical Unit on Governance and Anti-Corruption Reforms (TUGAR), brought together stakeholders to address integrity issues in public service.

Olukoyede revealed that EFCC investigations had uncovered cases where politically exposed persons falsified asset declaration forms by listing high-value properties they intended to purchase after gaining access to public funds.

“There was an investigation we carried out that showed the criminally smart way some politicians operate. One public officer declared a multi-billion-naira property before it was even built”, he said.

According to him, EFCC operatives, after reviewing the officer’s CCB form, discovered the listed address did not match the actual location of the property.

Further checks revealed the individual had declared a mansion valued at over N3 billion at “No. 39” while the real property stood at “No. 44”, an asset that did not exist at the time of declaration.

Olukoyede explained that the politician had already registered the property in the land registry and drawn up architectural plans before taking office, indicating a calculated intent to divert public funds.

“Before he was sworn in, he had started thinking about the money to steal and what to do with it.

“Now, some of these leaders declare assets they hope to acquire after they get into office. It is terrible”, the EFCC boss said.