IMF worries over Nigeria’s negative image as corrupt country
International Monetary Fund (IMF) has expressed worry over the negative perception of Nigeria as a corrupt country, as it called on the country’s government to address the issues that lead to pervasive corruption and its effects on the country’s economy.
Speaking when its team paid a consultation visit to office of the anti-graft agency, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in Abuja, Thursday, the IMF also demanded to know efforts made by the agency to change the negative perception of Nigeria as a corrupt country and strategies adopted to tackle corruption and the successes of such strategies, especially at the ministries, departments and agencies (MDAs) of government.
Led by Mr. Alin Shane, the IMF team explained that the aim of the visit was to engage selected government institutions on developments in their activities and the country as a whole, explaining that the focus on ICPC was on its role, mandate, cases and convictions, status of Illicit Financial Flows (IFFs), Civil Service Reforms as regards ghost workers, job descriptions, as well as, electronic salary payments.
The IMF team also expressed expectation that the consultation would address how the Commission tackles the demand and supply sides of corruption, procurement fraud and the handling of recovered assets.
Responding, Chairman of ICPC, Professor Bolaji Owasanoye SAN, noted that corruption was the bedrock of the nation’s underdevelopment, negative perception and economical issues, and that surveys and reports conducted in the past had been on retail corruption.
According to Owasanoye, the ICPC was beaming its searchlight on grand corruption which has a major effect on the public sector, explaining that through system review, triggers that lead to corruption were found and have been significantly mitigated, which has led to fishing out ghost workers and yielding significant returns for government.
Speaking on IFFs, Owasanoye informed the team that the ICPC was thecSecretariat for the Inter-Agency Task Team on Stopping IFFs, and it focuses on the oil and gas investment environment as well as the trade and tax sectors to curb transfer pricing, trade mis-involving, amongst others.
He said that capacity building trainings had been conducted to enable officials know what to look out for in order to tackle issues that aid IFFs.
The ICPC boss also revealed that with the Commission’s mandate of public enlightenment and citizen engagement, it has, through the National Ethics and Integrity Policy (NEIP), gradually been able to mobilise citizens and gain their commitment in the fight against corruption.
He noted that the Commission was currently carrying out a project on behavioural change which aims at discouraging members of the public from tolerating and engaging in corruption and corrupt practices.
Speaking on another initiative by the Commission which focuses on the value-for-money component, with a focal point on the budget system by tracking how money is spent, the Chairman explained the mileage ICPC is achieving through the Constituency and Executive Projects Tracking Initiative (CEPTI), which is on its 5th phase.
Professor Owasanoye added that the Commission was empowered by law to seize, manage and dispose off assets, adding that the Commission recently commenced the process of disposal of assets forfeited to the Federal Government, in line with the Proceeds of Crime (Recovery and Management) Act (POCA) 2022 signed into law by President Muhammadu Buhari earlier this year.
He urged the IMF team to have conversations with the Judiciary and the Legislature as they re also key actors in ensuring that corruption was fought to a standstill in Nigeria.
