By Olayinka Latona

THE Society for West African Internal Audit Practitioners, SWAIAP, has said that there is an urgent need for concerted effort to fight and find solutions to the corruption challenges, bedevilling Nigeria.

SWAIAP, an organization established for the institutionalization of internal auditing across West Africa, said that corruption promotes impunity in the conduct of public affairs in the sub-region, adding that the reason Nigeria is yet to fully realize its potentials is as the result of effects of corruption which permeate every sector.

Newly inducted pesident of SWAIAP, Mr. Patrick Nzechukwu, said this while addressing journalists at a national dialogue organised by the society with the theme: ‘Internal Auditing: Effective Tool for Anti-Corruption, Risk Management, Controls and Corporate Governance”, held at Airport Hotel, Lagos.

Nzechukwu, the first executive president of the Society, stressed the importance of the theme as corruption continues to ravage many nations of the world including Nigeria.

According to him, the group is committed to educating internal auditors on global best practices with emphasis on effective corporate governance, risk management system and adequate internal control and compliance and virile reporting systems, as well as informing stakeholders on the imperatives of effective internal auditing in West Africa.

Speaking at the event, Executive Secretary, Nigeria Extractive Industries Transparency Initiative, NEITI, Dr. Orji Ogbonnaya Orji, who was represented by Alhaji Abdulraheem Usman lamented that Nigeria was struggling to curb corruption in all sectors of the nation’s economy.

Dr. Orji called on staff of internal control departments in organisations to build capacity in the use of modern auditing softwares in order to effectively block leakages and proactively build defence systems against fraud.

He also urged organisations to deploy technology and modern audit softwares to aid their internal control mechanisms.

The programme witnessed award of Certificate to graduating members and unveiling logo of the society.