New Procurement threshold not opportunity for Fraud – EFCC Boss

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede has warned procurement officials in Ministries, Departments and Agencies, MDAs not to see the enhanced procurement threshold as an opportunity to commit fraud.

He gave the charge in Abuja on Thursday, November 20, 2025 at a Sensitization Programme  organized by the Bureau of Public Procurement, BPP for procurement and accounting officers of MDAs.

Olukoyede who was represented by the Director of Public Affairs, Commander of the EFCC, CE Wilson Uwujaren, appreciated the efforts of the BPP in seeking to sensitize the officials on new procurement thresholds in ministries, departments and agencies in the light of the new procurement guidelines as outlined by the federal government.

“The EFCC is aware of the new procurement threshold, approved by the President in May 2025. With the new procurement threshold, MDAs now have greater authority and opportunities to award low-level contracts, which is commendable. But, let me sound a note of caution to every procurement and accounting officer in MDAs that this new procurement threshold calls for responsible and accountable conduct. The contracts awarding authorities should not see the review as an  opportunity for personal financial gains, but rather as a privilege to streamline and sanitize procurement processes of the government”.

“In the EFCC, the Department of Fraud Risk Assessment and Control, FRAC is overseeing compliance with extant laws to prevent fraudulent activities. I urge all procurement officers to study and adhere to the new procurement guidelines because ignorance is not an excuse in law. I have absolute confidence in the BPP to enforce the new guidelines that will ensure more socially beneficial ends. I have no doubt that stakeholders will work to make this procurement processes offer  optimal benefits for the country,” he said.

The Auditor General of the Federation, Shaakaa Kanyitor Chira, described the procurement guidelines and the new threshold as commendable steps by the federal government, given the rising inflation, the depreciation of the naira as well as the changing cost structure in procurement process in the public sector. He further referred to the initiative as a strategic intervention to eliminate bottlenecks and prevent delays in project execution while enhancing accountability in public service. He also noted that the effectiveness of the initiative largely depended on the commitment of procurement officers.

The Director General of BPP, Adeboyale Adedokun in his presentation, noted that a procurement officer must help the government get value and reduce waste adding that it is an honour to say no to wrong processes rather than become an object of criminal investigation.

 “There should be a structure to how procurement is done in every agency. Where there are gaps, let us improve. The prices that are given should reflect the true value of the product. No contract should be awarded on the basis of preliminary design. It is our duty to correct all the loopholes in the system. Nigeria should lead in the area of public procurements that will give value to the citizens. We are working on a platform where we can consistently interface for best practices, and identify challenges,” he said.

Other speakers at the event were drawn from the Code of Conduct Bureau, CCB, the Independent Corrupt Practices and Other Related Offences Commission, ICPC and the office of the Accountant General of the Federation.