Okonjo-Iweala says corruption tackled, billions of dollars saved during her tenure

Okonjo-Iweala says corruption tackled, billions of dollars saved during her tenure

- Ngozi Okonjo-Iweala, Nigeria's former finance minister, said billions of dollars were saved under her watch

- The minister made this known in an op-ed titled To Beat Covid-19, Governments Need to Open Up

- Okonjo-Iweala served as finance minister from 2003 to 2006 as well as between 2011 and 2015

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Nigeria's former minister of finance, Ngozi Okonjo-Iweala, has said corruption was tackled headlong during her tenure, with billions of dollars saved.

The former minister made this known in an op-ed titled To Beat Covid-19, Governments Need to Open Up published by Bloomberg.

In the opinion piece, Okonjo-Iweala recommended various reforms governments need to put in place to be able to effectively deal with the ravaging coronavirus pandemic.

Okonjo-Iweala says corruption tackled, billions of dollars saved during her tenure

Okonjo-Iweala says corruption tackled, billions of dollars saved during her tenure. Photo credit: Ngozi Okonjo-Iweala
Source: Twitter

Making reference to her tenure as a two-term finance minister (from 2003 to 2006 as well as between 2011 and 2015), Okonjo-Iweala said: “We worked hard in a difficult governance environment to open up information and tackle corruption.

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“Though it was not easy, we saved billions of dollars that were channeled to other priorities.”

Okonjo-Iweala is the Chair of the Board of Gavi, the Global Alliance for Vaccines and Immunisation.

She is also a the Nigeria-nominated candidate for the position of the World Trade Organisation (WTO) Director-General.

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Meanwhile, as Nigeria faces a turbulent time in the fight against corruption, Society for Forensic Accountants and Fraud Prevention (SFAFP) has disclosed that about N2.5 trillion is being lost to fraud on a yearly basis.

The forensic body made this known through its chairman, Iliyasu Gashinbaki, who spoke during a virtual induction of 192 associates on Saturday, July 12.

According to SFAFP, about 25% of annual budgets are being lost to various notorious schemes in the government.

The body listed 10 most common schemes through which public officers unlawfully use public assets for private advances.

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They are underpayment of taxes and duties on export as well as import, fraud and embezzlement; payment of salary to ghost workers; bribery and extortion; payment for air supply (goods or services not provided or rendered); over and under-invoicing; fraudulent court awards of financial compensations above damage suffered.

SFAFP vowed to help the government of the country to fight corruption and unravel the fraud executed in government by providing technical support for both public and private sectors.

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Source: Legit Nigeria

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