The Economic and Financial Crimes Commission (EFCC) has presented a budget of N31, 350, 512, 836 to the National Assembly for its operations in 2022.
The figure represents a slight improvement over the N29, 575,694,747.46 appropriated for the Commission in 2021.
This was disclosed by the anti-graft agency in a statement issued on Tuesday, October 26, 2021.
Highlights of the budget
- N25. 896 billion is earmarked as personnel cost
- N3.60 billion as overhead cost
- N1.85 billion is projected for capital expenditure.
What the EFCC is saying
Presenting the budget to the Senate Committee on Anti-corruption and Financial Crimes, headed by Senator Sulaiman Abdul Kwari, the Executive Chairman of the Commission, Abdulrasheed Bawa gave an overview of the performance of the Commission’s 2021 budget.
He disclosed that of the total of N29, 575,694,747.46 appropriated for the Commission in the current year, N27.7 billion has so far been released.
He said, “Funding is a major challenge of the Commission, as it has affected the activities of the Commission in the areas of training, technical equipment, procurement of operational vehicles, upgrading of ICT infrastructures, among others.”
What you should know
- In 2020, EFCC presented a budget of N29,861,694,947 billion to the National Assembly for its operations in 2021.
- A breakdown of the estimate indicates that N24,407,559,975 was earmarked as personal cost, N3.67 billion as overhead, while N1.85 billion was projected for capital expenditure.
- The former Acting Chairman of the Commission, Mohammed Umar Abba, disclosed that of the total of N32.694 billion appropriated for the Commission in the current year, N25.136 billion, representing 76.88% has so far been released.
- A breakdown of the figure shows that N21.398 billion was released as personnel cost, N2.100 billion for overhead and N1.638 billion for capital projects.