The Economic and Financial Crimes Commission, EFCC, on Monday, October 25, 2021 presented a budget of N31, 350, 512, 836 ( Thirty-one Billion, Three Hundred and Fifty Million, Five Hundred and Twelve Thousand, Eight Hundred and Thirty Six Nara) 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
A breakdown of the 2022 estimate indicates that N 25, 896,377,934 (Twenty Five Billion, Eight Hundred and Ninety Six Million, Three Hundred and Seventy Seven Thousand, Nine Hundred and Thirty Four Naira) is earmarked as personnel cost; N3,600,773, 552 ( Three Billion, Six Hundred Million, Seven Hundred and Seventy Three Thousand, Five Hundred and Fifty Two Naira) as overhead cost; while N1,853, 361,550 ( One Billion, Eight Hundred and Fifty Three Million, Three Hundred and Sixty One Thousand, Five Hundred and Fifty Naira) is projected for capital expenditure.
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 who was represented by the Director of Operations, Abdulkareem Chukkol, 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, N27.7billiont has so far been released.
Nevertheless, he identifies funding as a major challenge of the Commission, noting that it has affected the activities of the Commission in the areas of training, technical equipment, procurement operational vehicles, upgrading of ICT infrastructures, among others.