Nigeria lost ₦2.9trn through contract fraud in three years

The new Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, says about ₦2.9 trillion meant for some government projects was diverted into personal use by contractors between 2018 and 2020.

Mr Olukoyede disclosed this on Wednesday when he appeared before the Senate for screening.

The upper chamber confirmed him after the exercise.