The Independent Corrupt Practices & Other Related Offences Commission, ICPC, Wednesday, disclosed that it restrained ministries, departments and agencies, MDA, of the Federal Government from misappropriating over N40 billion through frivolous claims and payments.
Speaking in Abuja, during the signing of Memorandum of Understanding, MOU, between the ICPC and the Office of the Auditor-General of the Federation, OAUGF, Chairman of the ICPC, Professor Bolaji Owasanoye, lamented that despite its efforts, there were still some unaccounted losses of revenues in MDAs. He did not give details of the losses.
He noted that henceforth, much attention would be given to revenue generating agencies, to curb loss of revenue.
Owasanoye stated: “Last year, ICPC in our own effort, focusing on the personnel and capital budget of about 208 MDAs, we were able to restrain over N40 billion from been misspent; if we did not take proactive measures the money will eventually have been spent and lost to government.’’
On current year’s spending, he said, “This year the government’s budget is about N10 trillion, a lot of the revenue comes from taxes, oil, and when the revenue comes in, even if it is a loan, it is allocated to MDAs and to government projects.
“If we do not have a system that ensures that the money is put to good use and that Nigerians get value for money, it is possible to spend 10 trillion without seeing the effect. And we have decided to be proactive.
“We will start this assignment by focusing on revenue generating agencies looking at systems and processes in deep comprehensive, specialized specific audit, and if we find that revenue has moved in the wrong direction, we will encourage it to come back. And if we need to take enforcement measures we will take enforcement measures.”
Also speaking, Auditor General of the Federation, Mr. Anthony Ayine, stated that through the efforts of the ICPC, they have helped save Nigeria billions of Naira.
He added that it was clear that greater successes can be achieved if governance institutions and anti-corruption bodies work well together.
He said, “Our Office has been doing very well over the years to highlight weaknesses and losses of funds through our annual reports.
“I, therefore, wrote to the Chairman ICPC to explore the possibility of partnership. The primary basis of my writing and seeking partnership was to avoid the two institutions working in silos and to achieve synergy in the fight against corruption. Some that are new to audit and to the work of the ICPC may not be clear on where this synergy will come from.”