President Bola Tinubu has given his approval for the appointment of Ola Olukoyede as the new executive chairman of the Economic and Financial Crimes Commission (EFCC). Alongside this key appointment, Muhammad Hassan Hammajoda has been named as the secretary of the anti-graft body.
Presidential spokesman, Ajuri Ngelale, officially made this announcement. Pending Senate confirmation, Ola Olukoyede’s tenure as the Executive Chairman of the EFCC is set for an initial four-year term, with the possibility of renewal.
Olukoyede’s impressive career background includes over 22 years of experience as a lawyer, focusing on regulatory compliance consulting and expertise in fraud management and corporate intelligence.
Born in Ikere-Ekiti, Ekiti, on October 14, 1969, Olukoyede pursued his education at prominent institutions, including Lagos State University, the University of Lagos, the Institute of Arbitration ICC in Paris, France, and the University of Harvard’s Kennedy School of Executive Education.
Before his current appointment, Olukoyede’s career path included notable positions at the law firm of former Vice President Yemi Osinbajo. He transitioned to the EFCC, where he previously served as the EFCC Secretary and Chief of Staff to former EFCC Chair, Ibrahim Magu, during the administration of President Muhammadu Buhari.
Beyond his legal expertise, Olukoyede holds membership in the Fraud Advisory Panel (UK) and plays a role in the Federal Government Technical Committee on the Repositioning of the Nigerian Financial Intelligence Unit. His specializations extend to Anti-Corruption Research and Analysis, Corporate and Business Intelligence Gathering, and Process.
In addition to his professional commitments, Ola Olukoyede is a Pastor at the Redeemed Christian Church of God, City of Refuge, Lagos Province 12, Shasha, Lagos State.
A notable aspect of this appointment is that Ola Olukoyede is the first EFCC chairman from Nigeria’s South since the organization’s inception two decades ago. The previous five substantive chairpersons did not complete their terms, as they were removed from their positions.
Tinubu’s authority to make these appointments is derived from section 2 (3) of the Economic and Financial Crimes Commission (Establishment) Act, 2004, which states that the Chairman and members of the Commission, except for ex-officio members, shall be appointed by the President. In this capacity, President Tinubu has endorsed Ola Olukoyede as the Executive Chairman of the EFCC, granting him an initial four-year term that can be renewed.
President Tinubu’s decision to overhaul the leadership of the EFCC reflects his commitment to renewing the fight against corruption, a central pillar of his “Renewed Hope” agenda. The newly invigorated campaign against corruption is underpinned by a reformed institutional architecture in the anti-corruption sector.
The suspension of the previous EFCC chairman, Abdulrasheed Bawa, in June was motivated by the need to investigate “weighty allegations” of abuse of office against him. Bawa, who took office in February 2021, assumed his role after the removal of his predecessor, Ibrahim Magu, who faced allegations of corruption.
The appointment of Ola Olukoyede and Muhammad Hassan Hammajoda is expected to usher in a fresh chapter in Nigeria’s fight against corruption, as they undertake their roles with a renewed sense of purpose and commitment to the nation’s integrity.