Politicians Declare Ownership of Assets Before Acquiring — EFCC Discloses

Abuja, Nigeria — The Economic and Financial Crimes Commission (EFCC) says it has uncovered a new tactic by some politicians to legitimise ill-gotten wealth by declaring ownership of assets even before acquiring them.

EFCC Chairman, Ola Olukoyede, disclosed this on Tuesday in Abuja at the launch of a virtual tool on the Code of Conduct for public officers.

The event, organised by the Technical Unit on Governance and Anti-Corruption Reforms in collaboration with the Code of Conduct Bureau, is to promote ethics, accountability, and exemplary governance in Nigeria’s public service.

The revelation of this cunning corruption tactic, according to the EFCC boss, exposes the alarming extent to which some politicians go to outwit anti-graft agencies, meticulously plotting their looting plans even before assuming public office.

Speaking in his goodwill address, Olukoyede said the practice, which the commission has dubbed the anticipatory declaration of assets, allows corrupt leaders to list properties they plan to buy with stolen funds after assuming office, thereby shielding themselves from future investigation.

He said, “There is something that I feel hasn’t been mentioned at today’s event, and I feel that if it has not been put in the code, I think it should be there, going by virtue of the work we do.

“I will give you an example. There was an investigation we carried out, and we discovered something not too strange but proves the ingenuity and the criminally smart way that some of our politically exposed persons carried out some of the nefarious activities we investigated them for.”

Citing a recent investigation, the EFCC boss explained how a politically exposed person declared a mansion worth over N3bn before it was even built.

According to Olukoyede, the suspect claimed the property was bequeathed to him, but the commission found that the land had only just been registered in his name and the building design completed before he was sworn in.

He explained, “There was a matter we carried out and we investigated. I told my guys, just get the Code of Conduct Bureau forms and look at them. There’s something I’m not comfortable with in this report.

“So they got the CCB form. We looked at it. We discovered that one of the very big properties valued well over N3bn that the person declared in the CCB form.

“We saw that the address that was in the CCB form was different from the one that the person put down, from the particular address where that particular property was located. So I felt something was amiss. So we decided to dig further, carried out more interrogation, and we discovered that the person declared the property when the property was not yet in existence.

“After the person won an election, I won’t mention any name, but you should be able to decipher. Before he was sworn in, he got the asset declaration form and put a particular number, as a big mansion owned by him, bequeathed to him by whomever he couldn’t mention. By the time we investigated and looked, we discovered where the asset was, and we discovered the asset on number 44.

“He declared 39, but the asset is the buildings at number 44. So while we are asking questions, we eventually discovered what we call the anticipatory declaration of assets.

“And that is the smart way that some of these leaders have resorted to now. Now, they declare what they intend to acquire by the time they are in office before they are sworn in to office. It’s terrible. We saw that and we felt, no, this is pretty bad.

“And unfortunately for him, he was so devilishly smart that he had already registered the property that he didn’t own at the time at the land registry. He designed the mansion that he wanted to build there. So in other words, before he was sworn in, he had started thinking about the money to steal and what to do with the money.

“So he designed the mansion that he wants to acquire by the time he gets to the office. So we felt this was a bit odd and we should begin to look into this.

Olukoyede warned that the trend may become more common, urging anti-corruption investigators to scrutinise asset declaration forms more closely.

The EFCC chief stressed that such premeditated acts of corruption erode public trust and make it more difficult to clean up the system.

“You will be seeing more of that. So your investigative capacity, by the time you examine some of these forms, will help us to ensure that we drive home our mandate.

“Leaders must not be allowed to plan their looting before they even take the oath of office,” Olukoyede added.

Speaking further, the Attorney General of the Federation, Lateef Fagbemi, described the virtual tool as a “historic milestone” that reaffirms the government’s commitment to entrenching ethical conduct in governance.

“Today is a bold statement that we are dedicated to instilling integrity, transparency, and the highest form of accountability at the very heart of public service in our dear country,” he said.

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The minister emphasised that the Code of Conduct for Public Officers is more than a set of administrative rules.

“It is the moral and ethical bedrock of the public service, setting the standards by which we are to conduct ourselves. We must adhere to them not only as public officers but as guardians of public trust and public integrity. It emphasises service over self and commitment to duty over privilege,” he said.

Fagbemi lamented that while the Code has served as the “backbone of good governance” for decades, its impact has been undermined by low awareness and limited accessibility.

He explained that the newly launched virtual tool would bridge this gap by providing easy, online access for public officers, citizens, civil society, and oversight institutions.

“This innovation will not only enhance awareness but will also promote preventive compliance, facilitate training, and serve as a resource for citizens, civil society, and oversight institutions. Indeed, the availability of this tool aligns with broader government reforms under the National Anti-Corruption Strategy,” Fagbemi noted.

He commended the Technical Unit on Governance and Anti-Corruption Reforms for spearheading the initiative, the Code of Conduct Bureau for its collaboration, and the MacArthur Foundation and Centre for Democracy and Development for their support.

“Your collaboration and dedication to ethical governance are deeply appreciated,” he told the partners.

The minister urged both public officials and citizens to see the tool as more than a symbolic gesture, stressing that the fight against corruption depends on active adherence to the principles it upholds.

“Laws and tools are only as effective as our willingness to uphold them. The responsibility to adhere to the principles of transparency, integrity, and accountability lies with each and every one of us,” he said.

Meanwhile, the government has unveiled the digital platform designed to make the Code of Conduct for Public Officers more accessible, in a move aimed at strengthening integrity, transparency and accountability in public service.

It said the web-based learning platform will deepen ethics, accountability, and anti-corruption practices in Nigeria’s public service.

Speaking at the launch, the Head of TUGAR, Jane Onwumere, described the platform as a “key milestone” in the country’s drive to promote exemplary governance and align with global best practices in public sector ethics.

“This innovative learning tool represents a crucial step in our collective effort to strengthen ethics and accountability in Nigeria’s public service,” she said. “It bridges the gap between policy and practice, making the Code of Conduct for Public Officers accessible, interactive, and easier to implement.”

Onwumere explained that ethical codes have become a critical anti-corruption weapon worldwide, citing Nigeria’s obligations under the United Nations Convention Against Corruption and the African Union Convention on Preventing and Combating Corruption.

She recalled that in 2018, TUGAR conducted a Scoping Survey and Gap Analysis of Nigeria’s ethics framework, which exposed significant weaknesses in the understanding and enforcement of the 14 Codes of Conduct expected of public officers.

“One of the most prominent challenges was the lack of understanding of key elements of the Code by those required to operationalise them. This was why we, in collaboration with the Code of Conduct Bureau, developed an explanatory manual to break down the Codes into clear, actionable elements,” she explained.

The newly launched tool, she said, transforms that manual into a dynamic online training platform enriched with illustrative case studies and scenario-based assessments.

“It is designed to help public servants apply ethical principles in real-world contexts from induction training for entry-level staff to refresher programmes for senior officials,” Onwumere noted.

She added that the platform also supports preventive compliance and serves as a resource for oversight institutions, citizens, and civil society, aligning with the 2019 UNCAC Review of Nigeria and the government’s National Anti-Corruption Strategy.

“TUGAR’s role as a central hub for anti-corruption data, diagnostics, and policy coordination means we must encourage its institutionalisation across all ministries, departments, and agencies,” she stressed.

“But tools and frameworks only realise their potential when met with genuine commitmeveryncy, integrity, and accountability are values we mustunveiledhold.”

The launch attracted top government officials, anti-corruption advocates, and development partners, who hailed the innovation as a low-cost, high-impact step towards curbing corruption in Nigeria’s public service.

Margret Oshinowo  | August 12, 2025