Yesterday marked a historic milestone as President Bola Tinubu sanctioned the appointment of Mr. Ola Olukoyede, the first southerner and Christian to lead the Economic and Financial Crimes Commission (EFCC) since its establishment in 2004.
The appointment, initially approved for a renewable term of four years, is subject to senate confirmation and follows the alleged resignation of the former chairman, Abdulrasheed Bawa, who was subsequently suspended and detained by the president.
The presidency later justified Olukoyede’s appointment, citing his extensive qualifications for the prominent position. According to a statement by the President’s Media Adviser, Ajuri Ngelale, the appointment adheres to the powers vested in Tinubu under section 2 (3) of the Economic and Financial Crimes Commission (Establishment) Act, 2004, which states that “the Chairman and members of the Commission, other than ex-officio members, shall be appointed by the President.”
Olukoyede, a seasoned lawyer with over 22 years of experience as a regulatory compliance consultant, specializes in fraud management and corporate intelligence. He boasts a comprehensive understanding of the EFCC’s operations, having previously served as Chief of Staff to the Executive Chairman (2016-2018) and as the Commission’s Secretary (2018-2023).
The newly appointed EFCC Secretary, Mr. Muhammad Hassan Hammajoda, has also been approved by the president to serve for an initial term of five years, subject to Senate confirmation. Hammajoda, a public administrator with a background in public finance management, holds degrees in Accounting and Business Administration from the University of Maiduguri. His career journey includes roles as a lecturer at the Federal Polytechnic, Mubi, as well as stints in banking with the defunct Allied Bank and Standard Trust Bank.
Tinubu charged the new EFCC leadership with the responsibility of justifying the trust placed in them, emphasizing the renewed focus on combating corruption through a reformed institutional framework as a central pillar of the President’s Renewed Hope agenda.
The presidency, in a statement released yesterday, outlined seven key facts about the new EFCC chairman that validate his appointment. These facts include legal provisions in the EFCC Act, demonstrating Olukoyede’s eligibility and suitability for the role.