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Character, Integrity Crucial To Fight Against Corruption In Public Sector, Says Financial Expert

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Public finance expert and Special Adviser to Enugu State governor on Financial Matters, Prof Paschal Okolie, has called for a reorientation in the character and integrity of public servants and Nigerians with a view to fighting corruption in the nation’s public service.

Prof. Okolie made the call in Akwa, Anambra State capital, at a two-day
Audit Reporting Training workshop for journalists, organised by FrontFoot Media Initiative as part part of Collaborative Media Engagement for Development Inclusivity and Accountability Project under the auspices of the Wole Soyinka Centre for Investigative Journalism (WSCIJ) and the sponsorship of the MacArthur Foundation.

READ ALSO: FrontFoot Trains Journalists On Accountability, Audit Reporting

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According to the financial expert, corruption has remained a bane despite many changes in the law and IT-driven applications for financial management in the country since 2010.

Okolie compared Nigeria to the Great Wall of China that enemies breached because of human failure in character and integrity.

He also observed that many states were yet to implement policies such as the International Public Sector Accounting Standards (IPSAS) and the Open Government Partnership Agenda aimed at promoting accountability in public financial management.

Experts say only 15 of Nigeria’s 36 states and the FCT signed up for the Open Government Partnership programme.

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Okolie stated, “Evidence abounds that unless the issues of character and integrity are addressed, Nigeria will continue to be challenged by corruption
arising from deficient application of the principles and practice of auditing and prudent, transparent and accountable financial management in the
Nigerian public sector”.

He commended efforts by the federal and state governments to tackle the legal and technical challenges through enforcing financial and operational
autonomy for the office of the Auditor-General through the amendment of the Audit Law establishing the Audit Service Commission that will operate
like the Civil Service Commission and approval of ICT-driven initiatives of
IPSAS, TSA and SFTAS.

He commended efforts by the federal and state governments to tackle the legal and technical challenges through enforcing financial and operational
autonomy for the office of the Auditor-General through the amendment of the Audit Law establishing the Audit Service Commission that will operate
like the Civil Service Commission and approval of ICT-driven initiatives of IPSAS, TSA and SFTAS.

INFO DAILY reports that challenges of public sector financial management in Nigeria include poor institutional governance, manpower development issues, weak oversight, corruption, and character and integrity, according to Okolie.

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READ ALSO: Experts Charge Media Practitioners, Auditors To Promote Accountability

On his part, Sonala Olumhense, who spoke from the USA emphasized on the Imperative of Audit Reporting for Nigerian Journalism.

Also speaking at the workshop were FrontFoot Media Initiative chairman Sully Abu, managing director Emeka Izeze, as well as training coordinator Chido Nwakanma.

Forty-two journalists participated in the workshop and they resolved to
critically examine state audit reports and tell stories from their contents, as well as report where states contravene the law by not submitting and publishing audit reports.

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Bauchi Commissioner Gifts 3 Students Cash For Prompt Resumption, Ability To Read

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The Bauchi state Commissioner for Education, Dr Jamila Dahiru, on Thursday, gave a cash gift of N5,000 each to three Senior Secondary II students of Government Science Secondary School, Misau for their determination to succeed in Education.

Two of the students, Adamu Adamu, Mustapha and Haruna impressed the commissioner for their presence in school in the first day of resumption while Abdullahi Musa marvelled her for his reading ability and comprehension.

According to the commissioner, the gesture was to appreciate their determination to learn as well and motivate other students to emulate them.

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READ ALSO: “They Chase Me I Dey Chase Dream,” Portable Hints On June US Tour

While paying a courtesy visit to the Emir of Misau, Alh. Ahmed Sulaiman, the commissioner disclosed that the Bauchi State government was working with stakeholders from the Misau Emirate to fine-tune modalities of temporarily accommodating the students of Federal Science Technical College, Misau at its Science Secondary School Misau.

She said the college made the request in a letter to the ministry stating that the facility given to them could no longer accommodate their students population, hence the resolve to convene the stakeholders meeting to fine-tune ways of sharing the facility for the betterment of the state.

READ ALSO: FG, States, LGs Share N1.2tn In May

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She disclosed that government science secondary school Misau, one of the best in the state in terms of befitting facilities has the capacity to accommodate up to five thousand students, but currently houses about three hundred students.

She appreciated the Emir for his continued support to programmes and policies of the government with more emphasis on the education sector.

Speaking on behalf of the Emir and other stakeholders, a retired Director with the Ministry, Muhammad Musa, expressed gratitude to the Commissioner for the honour and promised to assemble critical stakeholders from the emirate so as to arrive at an acceptable decision for the benefit of all and sundry.

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NDIC Obtains Order To Wind Down 96 Microfinance, Mortgage Banks

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The Nigeria Deposit Insurance Corporation has said that it has obtained Winding up Orders for 96 out of 183 microfinance and primary mortgage banks whose licenses were revoked by the Central Bank of Nigeria in May 2023.

The Managing Director, NDIC, Bello Hassa, revealed this at a sensitisation seminar for Judges of the Federal High Court in Lagos on Thursday organised by the NDIC, to enlighten the judiciary on the intricacies of the banking industry.

Hassan said, “As at date, the Corporation had obtained Winding up Orders for 96 out of 183 Micro Finance and Primary Mortgage Banks whose licenses were revoked by the CBN in May 2023, in less than one Year of revocation.”

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READ ALSO: FG, States, LGs Share N1.2tn In May

He added that the NDIC was committed to fulfilling its mandate of protecting depositors through bank supervision, failure resolution and liquidation so as to boost confidence in the financial system.

Speaking on the role that the judiciary plays in the fulfillment of the mandate, Hassan said, “We recognise the judiciary as one of our critical stakeholders. With this, when cases are brought before them, they can receive accelerated hearing and proclamation of Justice.”

Citing some of the achievements from previous editions of the seminar, Hassan said that instances where liquidation-related litigations experienced delays were reduced.

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JUST IN: 36 Speakers Back State Police

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Speakers of the 36 Houses of Assembly in Nigeria on Thursday expressed support for the National Assembly’s ongoing efforts to alter the 1999 constitution to create state policing in the country.

The Speakers made their resolution known at the end of their meeting in Abuja.

The Senate and House of Representatives are currently working to amend various constitutional provisions, including those regarding state police, financial autonomy for local government, fiscal federalism, and mayoral status for the FCT.

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READ ALSO: Military Declares Nigerien Terrorist Wanted For Zamfara Killings

Details shortly…

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