The Independent Corrupt Practices and Other Related Offences Commission (ICPC) reports that from January to date, the total value of recovered assets has risen to N116.270 billion, SAVANNAH NEWSNOW REPORTS.
According to the ICPC Chairman, Dr. Musa Adamu Aliyu, the Commission also recovered N50.366 billion from contractors who abandoned project sites between 2019 and 2023.
Speaking on the theme of the event, “Combating Corruption in Nigeria: The Imperative of Starting With Procurement Fraud”, the ICPC chairman asserted that corruption has consistently eroded public trust, hindered development, and undermined the collective aspirations of Nigerians.
He said, “Corruption as a cankerworm is very fundamental to state that corruption diverts resources from the poor to the rich, increases the cost of running businesses, distorts public expenditures and deters foreign investors. It is a major barrier to sound and equitable development in a nation.
“Corruption, at its core, is an abuse of entrusted power for personal gain, which often manifests in the form of bribery, embezzlement, nepotism, and fraud. It thrives in both public and private spheres, permeating various sectors and institutions.”
Dr. Adamu said that the commission is working to prevent procurement fraud through the use of its preventive mandate.
“We are looking at the budget and also the contracts awarded by MDAs to see if there are areas where we can block. Secondly, we are looking at the processes of government to see what is happening and also advise. And where there are infractions we use the enforcement power to take the matter to the court of law.
Gabriel Okeowo, Nigeria Country Director of BudgiT Foundation, stressed that collaboration is essential as no single government institution can tackle procurement fraud alone, and also advocated for strengthening anti-graft agencies.
Dr. Amina Salihu of MacAuthur Foundation added that Nigerians must demand accountability from their leadership.
