2024 Budget: EFCC proposes N2.6 billion for vehicles, demands extra N33 billion allocation… 

The Economic and Financial Crimes Commission (EFCC) has asked the National Assembly to increase its 2024 budgetary allocation from N43 billion to N76 billion.

This was contained in the budget synopsis presented by the Commission’s Chairman, Ola Olukoyede, to the House of Representatives Committee on Financial Crimes on Tuesday.

The Budget Office proposed N43.1 billion for the commission with a breakdown of N37 billion as personnel cost, N4.7 as overhead and N1.2 billion for capital projects.

However, the EFCC proposed N76.5 billion with a capital component of N25 billion, overhead pegged at N14.5 billion and personnel cost at N37 billion.

In a further breakdown, the commission proposed N2.6 billion for the procurement of vehicles in 2024 and another N1.7 billion for international travels.

But the budget office, in its final approval, removed the N2.6 billion for vehicles, N11 billion proposed for the construction of offices and N2.6 billion for security equipment.

It also slashed the proposal for foreign trips to N563.2 million from the N1.7 billion proposed by the EFCC.

Justifying the need for the lawmakers to increase the EFCC budget, Mr Olukoyede said the commission needs more resources to execute its mandates so as not to be criticised by Nigerians and the parliament for performing below expectations.