UncategorizedWe Must Strive to End Corruption For Nigeria’s Economic Development

July 21, 2022by admin0

The Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako, has charged stakeholders in Nigeria’s governance to double efforts in checkmating the menace of corruption in the country to pave the way to attaining economic development and prosperity.

In a goodwill message at the commemoration of the African Union Anti-corruption Day 2022 which was held in Abuja, the FRC Chairman remarked that the need to tackle acts of corruption has become more imperative now that Nigeria is in dire straits, particularly in the areas of revenue generation and remittances.

The African Union (AU) has dedicated 11th July annually as the African Day of Anti-corruption to reflect on strategies for checkmating corruption in Africa. This year’s theme was “Strategies and Mechanisms for the Transparent Management of Covid-19 Funds.”

“As we are all aware, our beloved country is seriously challenged in all aspects of governance and infrastructural development, but particularly in the area of revenue generation. Revenue targets and projections in our Annual Budgets are hardly realized year in, year out. This, coupled with the fact that our ever-increasing debt servicing obligations, which has kept our Debt-to-Revenue ratio at a very uncomfortable level – have combined to keep the nation’s revenue situation in a critical condition” Muruako said.

He equally stated that “every effort must be made to end or drastically reduce the opacity, inefficiency, ineptitude, and corruption in our commonwealth, and we, as a people, must be collectively determined to manage our God-given resources in a transparent and accountable manner and for the benefit of all – eschewing corruption in all its ramifications.”

He emphasized that the Commission will continue to vigorously carry out its functions which are central to safeguarding the nation’s economy.

“On the part of the Commission, we shall continue to strive to deliver on our mandate as laid out in the Fiscal Responsibility Act, 2007 which was enacted to “provide for the Prudent Management of The Nation’s Resources and secure greater accountability and transparency in fiscal operations (amongst others). We are confident that the ideas that will be generated at today’s event would provide an invaluable tool for the enhancement of transparency, accountability, and efficiency in the management of public funds as well as engender greater collaboration amongst the Anti-Corruption Agencies.”

Highlights at the event include a speech by President Muhammadu Buhari, GCFR, who declared the program open; a keynote address by the Secretary to the Government of the Federation, Boss Mustapha, and remarks and goodwill messages by various anti-corruption agencies within Nigeria and beyond, as well as other stakeholders.

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