Nigeria is losing trillions to corruption - Forensic expert cries out

Nigeria is losing trillions to corruption - Forensic expert cries out

- A forensic expert, Ayishetu Enape, has raised the alarm over the rising cases of corruption in Nigeria

- Enape said Nigeria has lost trillions of naira to corruption in the last few years

- Meanwhile, the ICPC has said it would prosecute the suspended chairman of SPIP, Okoi Obono-Obla, over alleged corruption

A Nigerian forensic expert, Ayishetu Enape, has raised the alarm over the growing cases of fraud, cybercrime and corruption in the country despite government’s effort to address the problems.

Guardian reports that Enape, who is the pro tem president of the chartered institute of forensic and investigative auditors of Nigeria on Thursday, August 15, said that the country’s loss to corruption currently is in the region of trillions of naira.

Legit.ng gathered that she said it is worrisome to know that despite the federal government’s renewed efforts in tackling fraud, corruption and cybercrime, little result has been achieved, especially in the area of securing conviction against perpetrators of fraud in Nigeria.

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“This is because many of the cases, especially the high-profile ones, are either thrown out for want of evidence or are unnecessarily delayed and stuck in court for years, due to one reason or the other,” Enape said.

She said the forensic investigation remains one of the potent means by which the country can tame the growing cases of fraud, cybercrime and corruption.

Enape stated that fraudsters could only be prevented if those who commit crimes are prosecuted with forensic evidence, stressing that the application of forensic investigation would create no hiding place for corrupt citizens.

Citing data from the Nigerian InterBank Settlement System (NIBBS), which show that Nigerian banks lost N12.30 billions to fraud in the past four years and other data, which show that fraud volume in the banks increased from N1.461 billion in 2014 to staggering N23.043 billion in 2017, Enape said: “the situation right now is worse than the above analysis because fraud volume in Nigeria has now moved to trillions, and no longer in billions.”

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Meanwhile, the Independent Corrupt Practices and other related Offences Commission (ICPC) said it had sent an invitation letter to the suspended chairman of the Special Investigation Panel for the Recovery of Public Property (SPIP), Okoi Obono-Obla.

The spokesperson of the commission, Rasheedat Okoduwa, told Guardian on Thursday, August 15, in Abuja that the letter was sent through the office of the solicitor general of the federation.

On when Obono-Obla would report to the commission, she said: “He would have been given the letter stating the date and time to come because when we invite anybody, we don’t leave it open- ended, it is always within a particular time frame. When other developments occur, we will let you know, but he has been invited.”

President Muhammadu Buhari had ordered the suspension of Obono-Obla as the chairman of the panel. The presidency said the suspension would be in effect until the conclusion of ongoing ICPC's investigations into a number of cases relating to Obono-Obla.

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Legit.ng had reported that the suspension came after an extensive investigation conducted into Obono-Obla's academic credentials by the anti-graft agency.

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Following his suspension, the solicitor general of the federation and permanent secretary, Ministry of Justice, Dayo Apata, has assumed control of the SPIP, sequel to a directive from President Buhari.

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Source: Legit.ng

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