The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised fresh concerns over financial misconduct in Nigerian universities, revealing that investigations by the anti-graft agency uncovered multiple cases involving diversion of students’ fees, inflated contracts and ghost workers across tertiary institutions.
Olukoyede disclosed on Tuesday in Kano while delivering the keynote address at the 8th Biennial Conference of the Committee of Pro-Chancellors of State-Owned Universities in Nigeria, warning that persistent corruption in the education sector threatens public trust and institutional credibility.
According to the EFCC boss, the discoveries were part of ongoing investigations into financial irregularities in universities, a sector he described as central to national development and human capital growth.
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He said the cases uncovered by the commission reflect a wider accountability challenge confronting 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,” Olukoyede said.
He added that each incident represented not only financial loss to the system but also a betrayal of trust between university authorities and the students and parents who invest heavily in education.
Olukoyede noted that Nigerian universities manage multi-billion naira budgets through tuition payments, intervention funds, and research grants, making transparency and accountability more important than ever.
He warned that institutions failing to enforce financial discipline risk damaging the quality of education and the ethical standards of graduates.
“A university that lacks financial accountability cannot credibly train future accountants and auditors,” he said.
“One that tolerates fraud cannot produce the ethical professionals our economy needs.”
Olukoyede also advocated for the adoption of Artificial Intelligence in university governance, describing digital tools as essential for tackling fraud and improving oversight.
He said AI can help universities strengthen payroll systems, detect suspicious transactions, automate audits, and monitor procurement processes.
According to him, many institutions still depend heavily on manual systems, leaving loopholes that encourage manipulation and financial leakages.
He urged governing councils to establish digital governance structures and invest in infrastructure such as broadband connectivity, cloud systems, and cybersecurity tools.
The EFCC boss said universities must embrace global technological changes or risk falling behind in governance standards.
His remarks come as concerns continue to grow over financial management in Nigeria’s tertiary education system, with increasing pressure on institutions to demonstrate accountability in handling public and private funds.
Olukoyede stressed that technology alone cannot solve corruption if the people operating it lack integrity.
He said the fight against corruption in the education sector requires a combination of strong governance systems, ethical leadership and collaboration with anti-corruption agencies.
He called for stronger partnerships between universities and regulatory bodies to improve intelligence sharing and institutional reforms.
According to him, protecting the education sector from fraud is critical to safeguarding Nigeria’s future workforce and rebuilding confidence in the university system.
