Vice-President Yemi Osinbajo says
a large portion of recovered loot is used to fund the social investment
projects of the current administration.
Speaking at an event to
commemorate the World Anti-corruption Day, Osinbajo listed some of such social
investment projects to include the homegrown school feeding programme, growth
enterprise and empowerment pogramme as well as N-Power – “the largest social
investment programmes of any administration”.
He promised that the federal
government would ensure adequate use of recovered assets.
Osinbajo, who delivered the
keynote address titled, ‘Notable trends in the war against corruption,’ was
represented by Waziri Adio, executive secretary, Nigeria Extractive Industries
Transparency Initiative (NEITI),
“A large portion of recovered
assets is used to fund the social investment projects of this administration,”
he said.
“In 2016, Nigeria joined the open
government partnership (OGP) and has thus far made 14 commitments aimed at
ensuring transparency and accountability in the management of public office and
increasing citizen participation in governance.
“Some of such commitments include
open contracting (via the ICRC’s PPP contract disclosure portal),
technology-based citizens’ feedback, presidential committee on asset recovery,
voluntary assets and income declaration scheme, and the special investigation
panel on the recovery of public property.
“The 2016, 2017 and proposed 2018
budgets all have a line for the recovery of stolen public funds. Hence, the
recovery of funds is a revenue line.
While expressing sadness at the
difficulty usually experienced in recovering stolen funds kept abroad, Osinbajo
said: “The criminality involved in the initial acceptance of stolen funds by
institutions in these countries is oftentimes left unpunished”.
“In order to be successful, the
war against corruption requires the constant recruitment of stakeholders and
partners, particularly from other arms of government and civil society
organisations,” he added.
“I hope the issue of stakeholder
recruitment and other pertinent issues will form part of your deliberations at
the panel discussions still to come.”
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