Nigerians who cannot explain the source of their wealth, will soon have to answer queries on how they become wealthy. 

This was as the Executive-Chairman of the Economic and Financial Crimes Commission (EFCC), Barr. Ola Olukoyede, appealed to the National Assembly to enact a law against unexplained wealth.

He said such a law would engender the fight against economic and financial crimes and other acts of corruption.

In a statement by the EFCC Spokesperson, Dele Oyewale on Wednesday, the chairman made the plea at the National Conference on Public Accounts and Fiscal Governance convened by the Public Accounts Committee of the Senate and House of Representatives. 

The statement stated that the EFCC Chairman had condemned non-existing legislation against unexplained wealth, stressing that corruption is emboldened when people who live above their means are not questioned.

“I want to make an appeal to you all, please, pass the bill on unexplained wealth. 

“We need transparency in resource management. That’s all we need,” he said.

The EFCC boss also called on the government at all levels to uphold  transparency in resource management, even as he stated that “mismanagement of resources is behind banditry, kidnapping, terrorism and other acts of insecurity in the country.”

He also sought cooperation with custodians of stolen assets abroad for the repatriation of such assets to Nigeria. 

He noted that custodians of stolen assets are as guilty as those that stole the assets.

In his remarks, the Chairman, House Committee on Public Accounts, Hon. Bamidele Salaam, said to tackle corruption headlong, there must be a review of the nation’s cost of labour so that workers would not easily fall prey to inducement and corruption.