ICPC Raises Alarm Over Diversion Of Public Funds

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The Independent Corrupt Practices and other Related Offences Commission on Thursday in Abuja raised the alarm about diversion of public funds in the country.

The ICPC Chairman, Prof. Bolaji Owasannoye, made the observation at a two-day capacity-building workshop for members of the House of Representatives Committee on Anti-Corruption.

He frowned upon the diversion of public funds, both in revenue receipts and expenditure, while condemning illicit financial flows, misapplication of funds and budget padding.

ICPC Raises Alarm Over Diversion Of Public Funds

He said it was time corruption was confronted headlong, adding that Nigerians were yet to recognise the death knell that corruption meant.

He warned that if citizens did not deal with the ethical issues of corruption, it would further impact negatively on the country.

Owasannoye noted that Nigeria was never in short supply of anti-corruption legislation but in short supply of integrity.

He noted also that this had been worsened by high-level hypocrisy.

According to him, the Central Bank of Nigeria, the Bureau of Public Procurement and the Federal Competition and Consumer Protection Commission, are all anti-corruption gatekeepers.

He stated that most regulatory agencies also played anti-corruption roles.

Owasannoye observed that corruption accentuated political patronage and encouraged sabotage of governance, stressing that funds appropriated on paper, were never used for the purpose for which they were meant.

In his remarks, Shehu Garba, Chairman of the House Committee on Anti-Corruption, noted that the challenge and the fight against corruption had remained a topical issue.

He said that the ills of corruption had been well documented, adding that Nigerians did not need to be reminded of the consequences.

Source: Punch Newspaper