EFCC boss laments diversion of varsities’ students’ fees, others

The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has decried the diversion of students’ fees and other financial infractions in Nigerian universities, warning that such practices undermine the integrity of the education system.

A statement by the commission’s spokesman, Dele Oyewale, said Olukoyede spoke in Kano on Tuesday while delivering a keynote address at the 8th Biennial Conference of the Committee of Pro-Chancellors of State Universities in Nigeria.

He said investigations by the EFCC had uncovered cases involving inflated contracts, ghost workers and diversion of students’ fees in tertiary institutions across the country.

“The EFCC has investigated cases involving inflated contracts, ghost workers, and diverted students’ fees in tertiary institutions across the federation.

“Each case represented not only a loss of public funds but also a betrayal of the trust that Nigerian parents, students, and taxpayers have placed in the university system,” he said.

The EFCC boss noted that universities manage multi-billion naira budgets, including tuition, TETFund allocations and research grants, yet accountability challenges persist.

He called on university authorities to adopt Artificial Intelligence in their financial and ethical management systems to curb corruption, enhance transparency and improve governance.

Describing AI as a necessary defence against financial crimes, Olukoyede warned that Nigerian universities must not be left behind in the global shift towards technology-driven governance.

“A university that lacks financial accountability cannot credibly train future accountants and auditors, and one that tolerates fraud cannot produce the ethical professionals our economy needs,” he said.

He outlined areas where AI could be deployed, including fraud detection, automated auditing, payroll monitoring, procurement processes and academic integrity systems.

Olukoyede also urged governing councils to establish AI and digital governance committees, develop digital integrity strategies and invest in infrastructure such as broadband, cybersecurity and cloud systems.

While highlighting the benefits of AI, he cautioned that technology alone cannot solve corruption without addressing human integrity.

“No matter how sophisticated the technology might be, its effectiveness ultimately depends on the integrity of the human beings who will utilise the tools,” he added.

He further called for collaboration between universities, the EFCC and other agencies in training and intelligence sharing, stressing that the fight against corruption requires collective effort.