EFCC proposes N2.6 billion for vehicles, demands extra allocation of N33 billion

EFCC proposes N2.6 billion for vehicles, demands extra allocation of N33 billion

Anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), has asked the National Assembly to increase its budget allocation for 2024 from N43 billion to N76 billion.

This was contained in the budget synopsis presented by the Chairman of the Commission, Ola Olukoyede, to the Financial Crimes Committee of the House of Representatives on Tuesday, December 5.

The FG Budget Office proposed N43.1 billion for the commission with a breakdown of N37 billion as staff costs, N4.7 as overhead and N1.2 billion for capital projects.

But, the EFCC proposed N76.5 billion with a capital component of N25 billion, overheads pegged at N14.5 billion and staff costs at N37 billion.

Breaking down the costs, the commission proposed N2.6 billion for the purchase of vehicles in 2024 and another N1.7 billion for international travel.

Moving forward, the budget office, in its final approval, removed the N2.6 billion for vehicles, the proposed N11 billion for office construction and the N2.6 billion for security equipment.

It also reduced the foreign travel proposal to N563.2 million from the N1.7 billion proposed by the EFCC.

Justifying the need for lawmakers to increase the budget of the EFCC, Olukoyede said;

“From a realistic point of view, what we think is that it will be good for us to work…because if we 'succeed' in investigating and prosecuting the crime, you (lawmakers) will also 'succeed' in abusing us so that we are not working,” he said

“So, we don't want to receive such attack (criticism) from you and we don't want to 'manage'. That is why we have increased (capital expenditure) to N25 billion, which we think will be enough for us to operate in the year 2024,” he added.

Olukoyede said the commission is proposing N25 billion as capital cost because the N1.241 billion proposed by the budget office “will do nothing” for the agency.

Source: www.lindaikejisblog.com

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