EFCC to monitor funds disbursement to IPPIS, others

The Office of the Accountant-General of the Federation has granted the Economic and Financial Crimes Commission (EFCC) access to some of its payment platforms to monitor disbursement of funds to various destinations.

One of the platforms that will be monitored by the anti-graft agency is the Integrated Personnel and Payroll Information System (IPPIS) which is being used to disburse some funds to ministries, departments and agencies.

The Chairman of EFCC, Ola Olukoyede, disclosed this at the commission’s headquarters in Abuja on Monday when members of the Senate Committee on Anti-Corruption and Financial Crimes visited him on oversight functions.

Speaking before the meeting went into closed-door, Olukoyede said the accessibility to the platforms would allow the anti-graft agency to track all government disbursements and how they are utilised.

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The EFCC boss, while seeking the cooperation of the lawmakers on his bid to ensure corruption in the public sector is reduced, put them on notice that all their constituency projects would be monitored.

“We have a relationship with the Accountant General’s Office now. We have been given access to IPPIS. We want to monitor releases, and where the money goes to. So, I’m happy to also inform you, distinguished members of the Senate, that we are going to monitor your constituency projects,” he said.

Olukoyede also said he was trying to procure software to monitor and investigate virtual currency trading in the country, adding that the country was losing several billion dollars to the activities of unlicensed cryptocurrency trading in Nigeria.

Recalling the investigation of the military during the arms procurement scandal, Olukoyede said the problems of insecurity facing the country were attributable to corruption within that “sphere of activities”.

He said, “I was Chief of Staff when we did, for the first time in Nigeria, investigated the military during the arms procurement scandal.

“Some of the problems of insecurity we are facing today are likely attributable to corruption within that sphere of activities. And we did a lot then. And where we are, we are still battling with the issue of insecurity.”

He also urged the citizens to stop criticising the commission for going after cybercriminals like internet fraudsters, adding that the country loses $500m in one year.