The Chairman of Nigeria’s Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has revealed that 18 incumbent state governors are currently under active investigation for alleged financial misconduct.
Olukoyede made the disclosure during a public sensitisation event in Lagos focused on currency abuse and naira misuse. He emphasised that while constitutional immunity shields serving governors from arrest or prosecution, it does not prevent the anti-graft agency from opening case files and gathering evidence against them.
“We don’t wait until governors leave office before commencing investigations. Right now, 18 sitting governors are under our watch. Once their tenures expire, we’ll proceed accordingly,” the EFCC boss stated.
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During the session, Olukoyede shared a shocking anecdote involving a former Nigerian governor who fled the country immediately after handing over power in an apparent attempt to evade imminent arrest.
The unnamed ex-governor travelled to the United Kingdom, where he held a lavish birthday party in a London hotel. According to Olukoyede, the celebration took a bizarre turn when the former governor began spraying bundles of £10 and £50 notes across the venue, an act that alarmed hotel staff unfamiliar with such displays.
“The hotel manager, thinking something was wrong mentally, called emergency services. The Metropolitan Police responded with medics, suspecting a psychiatric emergency,” Olukoyede recounted.
The tension was only diffused after two other Nigerian governors in attendance explained the situation to British authorities. Nonetheless, the incident, according to Olukoyede, underscores the troubling culture of impunity and excess among some public officials.
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Olukoyede’s comments signal a more assertive stance from the commission as it widens its net beyond former officeholders to current public officials suspected of financial crimes.
He reiterated that while the EFCC respects constitutional boundaries, it will not hesitate to initiate preemptive investigations where red flags emerge.
“Immunity is not impunity. The law restricts prosecution, not intelligence gathering or evidence collation,” Olukoyede said.
As the 2027 general elections approach and more governors prepare to leave office, observers anticipate a wave of legal reckoning, especially as the EFCC intensifies scrutiny on state-level financial conduct.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
