By Michael Eboh & Rita Obodoechina

The Institute of Directors, IoD, Nigeria, yesterday, expressed concern over the high level of corruption perpetuated by political office holders in the country under the guise of utilising security votes.

“It has been alleged that the malaise has become one of the easiest ways some elected public officials misappropriate funds in their respective positions,” IoD said in a statement announcing its forthcoming Advocacy Roundtable Forum on Security Vote.

The statement, on the forum that is scheduled to hold in Lagos, tomorrow, at the Protea Hotel, Ikoyi, was jointly signed by Mr. Akin Ajayi and Prince Ben Onuora, Director-General/Chief Executive Officer and Chairman, Research & Advocacy, respectively.

IoD said it was aware that billions of naira were squandered every year in Nigeria under the guise of security votes, adding that the funds that are supposed to be used to provide security for public officers and the society end up being transferred into personal bank accounts.

IoD said: “It is also worthy of note that in spite of these huge sums of money on security, there has been a yearly increase in the rate of killings, kidnappings, cultism and other security threats across the length and breadth of the country.

“Questions are also raised that such funds should have been strictly dedicated to fighting the menace of the Boko Haram, Niger Delta militancy and a host of other issues threatening the peaceful existence of our nation to its very fabric.”

They, however, questioned the legality of the fund, saying no part of the country’s constitution allows for any pool of funds to be maintained as security vote.

It said: “Although in some countries such funds are appropriated, but in Nigeria such funds are not included in the appropriation whether at the Federal, state or local government levels.

“Moreover, these funds are unaudited and unaccounted for. The exact value of the vote is practically unknown to ordinary citizens.”

“With reference to Section 14(b) of the 1999 Constitution on the subject matter, it states that: ‘It is hereby accordingly declared that the security and welfare of the people shall be the primary purpose of government’.

“Therefore, it can be inferred that this constitution did not state that there shall be a pool of funds called ‘security vote.’

“It can also be said that there is no part of the appropriation where it is stated that such a pool of funds should be maintained as security votes in the country.

“Security votes are funds provided at the three tiers of government in Nigeria to provide security for the citizens. These funds are collected by the Federal, state and local government chief executives in Nigeria as security votes.