Bolaji Owasanoye, the chairman of the Independent Corrupt Practices and Other Related Offences Commission, ICPC, has revealed that his agency uncovered fraud in some government agencies, running into N41 billion naira.
Owosanoye stated that the commission had recovered N41 billion from some government agencies and institutions who fraudulently inflated their workers’ payroll.
He disclosed this during a briefing organised by the Presidential Communication Team, set up to update Nigerians on President Muhammadu Buhari’s security, economy, and anti-corruption agenda.
According to him, the Integrated Personnel and Payroll System’s introduction has helped expose fraudulent practices in public service.
“Outside falsification of capital importation, the use of tax havens, the unequal tax reporting regime of the international community, a whole range of things. Take the extractive industry, for example, the oil and gas sector – Nigeria loses a lot of money to bad clauses and contracts that we have foolishly signed over time,” he revealed.
In January, Matthew Page, a non-resident scholar at the Carnegie Endowment for International Peace, had urged the UK government to make tackling illicit financial flows from Nigeria a priority.
According to him, some families in Nigeria have a long tradition of sending their children to private boarding schools and universities in the UK.
“These institutions are especially popular destinations for the offspring of prominent politically exposed persons (PEPs) from the region,” he noted.