Monumental fraud taking place in electricity sector — EFCC

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The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns about fraud in the electricity sector.

Olukoyede made this statement during a visit by the House of Representatives Committee on Anti-Corruption and Financial Crimes to the EFCC headquarters in Abuja on Tuesday.

He pointed out that the frequent collapse of the national grid is connected to fraud within the sector, particularly the use of poor and substandard materials.

Olukoyede said, “As I am talking to you now, we are grappling with electricity. If you see some of the investigations we are carrying out within the power sector, you will shed tears.

“People who were awarded contracts to supply electricity equipment, instead of using what they call 9.0 guage, they will buy 5.0.

“So, every time you see the thing tripping off, gets burnt, and all of that, It’s part of our problems.”

Meanwhile, the EFCC Chairman revealed that the agency would focus more on crime prevention rather than recovery in the coming days. He added that there would be increased attention on the spending activities of government ministries and agencies.