The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says from January till date, total assets recovery climbed to N116.270 billion.
In his keynote address at the Close-Out/Award Ceremony of the ICIR Open Contract Reporting Project (OCRP) on Tuesday in Abuja, the ICPC Chairman, Dr. Musa Adamu Aliyu, also said that from 2019- 2023, the Commission recovered the sum of N50.366 billion from contractors who abandoned projects sites.
This is even as he added that through its Constituency and Executive Projects Tracking Initiative (CEPTI), it was able to force many contractors who abandoned the site to return.
The 6th phase of the exercise is currently ongoing, and the total asset recoveries from January 2024 till date is with the sum of N116,270,410.89.
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.
He emphasised the need for collaboration as only one institution of government cannot do it alone.
Speaking at a panel discussion, the Nigeria Country Director of BudgiT Foundation, Gabriel Okeowo said there is a need to strengthen the various anti graft agencies if the country is serious about tackling procurement fraud.
In her comments, Dr. Amina Salihu, a director at MacAuthur Foundation, insisted that Nigerians must begin to ask questions from its leadership.
She said that Nigerians should be “angry enough to do the right things ourselves and to ask the right questions and to find the right kind of partnership.”
