Business
GDP: Agriculture sector grows by 3.42% in Q4 2020
This was disclosed by the Chairman of the Commission, Prof. Bolaji Owasanoye, at a meeting with Directors of Finance and Accounts on Wednesday in Abuja to address challenges likely to hamper the implementation of the 2021 Federal budget.
The ICPC boss said that funds were flagged by the ICPC during its 2019/2020 System Study and Review of the MDAs.
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“Part of the outcome from 2019 System Study and Review of the commission is the mopping up of N42 billion (personnel cost) in 2019, and N147 billion in 2020.
“The Minister of Finance through findings of the commission of the wrong application of personnel cost on overhead and capital items, issued a negative warrant to mop up excess cash available in the personnel costs of the MDAs to forestall further misapplication of funds,” he said.
“Similar warrant was issued in 2020 totalling N147 billion, which was a huge savings to government,” he added.
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He added that the expenditure types from the MDAs included DTA and Estacode, electricity, water and sewage bills, procurement of diesel and stationery, payment of transport allowance and flight fares and illegal employees as well as illegal allowances.
“Some agencies of government engaged in massive capital project implementation through direct labour with attendant implication for corruption and loss of project quality and tax revenues.
“This is an existential threat to the nation and it has already negatively impacted stability and development because funds appropriated for major infrastructure and development projects are simply diverted or mismanaged.
“It starts with those of us in this room. This impunity cannot continue ad infinitum. Nigeria cannot and will not survive it, ” he said.
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What you should know
- Tropics Nigeria reported that the Corruption Perception Index (CPI) 2020 published by Transparency International indicates that Nigeria occupies the 149th position out of the 180 countries surveyed as well scored 25 out of 100 points.
