By Michael Eboh & Fortune Eromosele

The Independent Corrupt Practices & Other Related Offences Commission, ICPC, yesterday, disclosed that it restrained ministries, departments, and agencies, MDA, of the Federal Government from misspending 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 noted that henceforth, much attention would be given to revenue-generating agencies, to curb the loss of revenue.

He said, “As some of you may recall in the past few months, notably 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.

ALSO READ: Alleged N28.9m fraud: Pastor apologises after accusing Judge of bias

“Now, of course, if we do not take proactive measure the money will eventually have been spent and lost to the government.

“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.”

Owasanoye stressed that the ICPC was more concerned about been able to nip in the bud as quickly as possible some of the grievous findings of default that leads to huge revenue losses and diversion, adding that it was also concerned about punishing individuals found wanting.

He maintained that in the course of implementing its mandate over the years, some of the things that the Auditor General’s report have disclosed later on, are some of the things that the Commission has found and taken enforcement measures on and felt that given the size, the experience, the knowledge, the spread to the Auditor General’s office, it would be very strategic to collaborate with them in order to do more with less.

ALSO READ: Makinde hints ex-public office holders to return looted state funds or face ICPC

Also speaking, Auditor General of the Federation, Mr. Anthony Ayine, stated that through the efforts of the ICPC, the scope of their activities and the results they have achieved, in particular, 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 f

Vanguard News