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The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has expressed concern over the diversion of students’ fees and other financial irregularities in Nigerian universities, warning that such practices threaten the credibility of the country’s higher education system.
Olukoyede made the remarks on Tuesday in Kano while delivering a keynote address at the 8th Biennial Conference of the Committee of Pro-Chancellors of State Universities in Nigeria, according to a statement issued by EFCC spokesperson Dele Oyewale.
He revealed that investigations conducted by the commission have uncovered multiple cases of financial misconduct within tertiary institutions, including inflated contracts and payroll fraud.
“The EFCC has investigated cases involving inflated contracts, ghost workers, and diverted students’ fees in tertiary institutions across the federation.
“Each case represented not only a loss of public funds but also a betrayal of the trust that Nigerian parents, students, and taxpayers have placed in the university system,” he said.
The EFCC chairman noted that universities handle vast financial resources—from tuition payments to allocations from the Tertiary Education Trust Fund and research grants—yet continue to grapple with accountability issues.
To address these challenges, he called on university administrators to integrate Artificial Intelligence into their financial management and governance systems as a means of strengthening transparency and curbing corruption.
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“A university that lacks financial accountability cannot credibly train future accountants and auditors, and one that tolerates fraud cannot produce the ethical professionals our economy needs,” he said.
Olukoyede identified key areas where AI could be effectively deployed, including fraud detection, automated auditing, payroll monitoring, procurement oversight, and safeguarding academic integrity.
He also urged governing councils to establish dedicated AI and digital governance committees, develop robust digital integrity frameworks, and invest in critical infrastructure such as broadband connectivity, cybersecurity systems, and cloud technologies.
Despite highlighting the potential of technology, he cautioned that systems alone cannot eliminate corruption without a strong ethical foundation.
“No matter how sophisticated the technology might be, its effectiveness ultimately depends on the integrity of the human beings who will utilise the tools,” he added.
He further emphasised the need for stronger collaboration between universities, the EFCC, and other relevant agencies, particularly in areas of training and intelligence sharing, stressing that tackling corruption requires a collective and sustained effort.
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