THE Economic and Financial Crimes Commission (EFCC) has uncovered a new scheme by some politicians to legitimise stolen wealth by declaring ownership of properties before actually acquiring them.
EFCC Chairman Ola Olukoyede revealed the practice—titled: “anticipatory declaration of assets”—today in Abuja during the launch of a virtual Code of Conduct tool for public officers.
The event, organised by the Technical Unit on Governance and Anti-Corruption Reforms (TUGAR) in partnership with the Code of Conduct Bureau, aimed to promote integrity and accountability in public service.
Olukoyede explained that corrupt politicians list properties they intend to buy with stolen funds after taking office, shielding themselves from future investigations.
He cited a recent case where a politically exposed person declared ownership of a mansion worth over ₦3 billion before it was even built.
The suspect had registered the land and designed the building before assuming office, claiming it was inherited.
He warned that the tactic is becoming more common and urged anti-corruption agencies to scrutinise asset declaration forms more closely, stressing that premeditated looting undermines public trust.
The Attorney General of the Federation, Lateef Fagbemi commended the launch of the virtual Code of Conduct tool as a milestone for ethical governance, describing it as the “moral and ethical bedrock” of public service.
The platform will provide accessible, interactive training on ethics and anti-corruption, helping public officers apply the Code in real-world situations.
TUGAR head Jane Onwumere said the tool aligns with global best practices and addresses long-standing gaps in understanding and enforcing Nigeria’s 14 Codes of Conduct.
It will also serve as a resource for citizens, civil society, and oversight bodies, supporting preventive compliance in governance.
The launch was attended by senior government officials, anti-corruption advocates, and development partners, who praised it as a low-cost, high-impact step towards curbing corruption in Nigeria’s public service.