The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed that the anti-graft agency is currently investigating 18 serving Nigerian governors for alleged financial misconduct and corruption-related offences.
Olukoyede made the revelation on Friday during a public sensitisation programme in Lagos. The event was targeted at educating stakeholders, including Bureau de Change (BDC) operators and Nollywood industry professionals, about the legal and economic consequences of naira abuse, currency mutilation, and financial crimes.
Governors Under Probe Despite Immunity Clause
Olukoyede emphasized that although the Nigerian Constitution grants immunity to sitting governors, the EFCC does not wait for them to leave office before initiating probes.
“As I’m speaking, we are investigating about 18 governors who are still serving,” he said. “When they leave office, we will proceed to the next stage.”
According to him, preliminary investigations are being conducted discreetly to ensure that once the immunity provision no longer applies, the Commission can swiftly move to prosecution.
Olukoyede’s remarks were part of a broader effort to signal the agency’s renewed commitment to curbing financial malpractice in the public sector.
EFCC’s Diligence in Post-Tenure Investigations
In a dramatic anecdote shared during the session, the EFCC Chairman recounted an incident involving a former Nigerian governor who, shortly after handing over office, fled the country to avoid arrest.
Coincidentally, the ex-governor’s birthday fell within that same week. He reportedly hosted a lavish celebration in a luxury hotel in London, where he was seen spraying £50 and £10 notes—an act that drew alarm from the hotel staff.
“The hotel manager called emergency services, believing the man had a mental breakdown,” Olukoyede said. “When the police arrived, two current Nigerian governors had to intervene to explain that it was just a cultural expression.”
The incident, according to the EFCC boss, underscores how some public officials attempt to evade scrutiny through extravagant lifestyles and foreign hideouts.
EFCC Issues Warning to Public Office holders
Olukoyede reiterated that the EFCC would not be deterred by political influence or official privilege. He warned public office holders that no one is above investigation, irrespective of their rank or office.
“Whether you are in office or not, once we have credible intelligence and evidence, we will act accordingly,” he stated.
The Commission’s surveillance tactics now include collaboration with foreign agencies to track financial flows, assets, and suspicious spending abroad by Nigerian political office holders.
Why the EFCC Targets Sitting Governors
Governors control vast financial resources through state budgets, security votes, and contract awards—areas where corruption frequently occurs. By launching early investigations, the EFCC aims to deter impunity and fast-track prosecution when tenure ends.
Examples of EFCC-Related Cases Involving Ex-Governors:
Orji Uzor Kalu: Convicted for N7.65 billion fraud (later overturned for retrial)
Jolly Nyame: Jailed for misappropriating N1.64 billion
Joshua Dariye: Sentenced for N1.1 billion fraud
Ayodele Fayose: Still facing trial over alleged N6.9 billion fraud
These cases illustrate the EFCC’s historical commitment to prosecuting governors post-office, but the agency is now increasingly taking proactive steps while they are still in power.
Stakeholders Applaud EFCC’s Transparency
Reactions have trailed the Chairman’s announcement, with civil society groups and anti-corruption watchdogs calling for the publication of the names of the governors under investigation.
The Transition Monitoring Group (TMG) and the Socio-Economic Rights and Accountability Project (SERAP) praised the EFCC for its courage but urged that the anti-graft agency go further by naming the governors and the nature of their alleged crimes.
A statement from SERAP read:
“The public has a right to know which governors are under investigation. This is essential for transparency and democratic accountability.”
EFCC Strengthens Engagement With Financial Stakeholders
The Lagos event also marked the EFCC’s strategic engagement with key financial stakeholders. Bureau de Change operators were reminded of their legal obligations under Nigeria’s Money Laundering (Prohibition) Act, while movie producers were cautioned against glamorising financial crime in films.
EFCC’s Director of Public Affairs, Wilson Uwujaren, noted that public sensitisation is a central pillar of the agency’s 2025 anti-corruption agenda.
“We are not just arresting people—we are working to build a culture of compliance and civic responsibility,” Uwujaren said.
What’s Next?
With 2027 elections on the horizon, political analysts warn that corruption investigations may become a battleground for political scores. However, Olukoyede has vowed to remain apolitical and uphold the Commission’s independence.
The EFCC is also calling on whistleblowers and financial experts to provide credible tips as it continues to unravel high-level graft across Nigeria’s public sector.
What you should know
Olukoyede’s disclosure of ongoing investigations into 18 serving governors is a bold signal of EFCC’s zero-tolerance policy toward corruption. While the identities of the governors remain undisclosed for now, the announcement sends a clear message to public officeholders: the era of unchecked impunity may be coming to an end.
As Nigerians await further developments, the EFCC’s actions may shape the integrity of state governance ahead of the next election cycle