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Tag: ICPC

  • ICPC endorses FHA’s anti-corruption procedure

    The Independent Corrupt Practices and Other Related Offenses Commission (ICPC) has endorsed the measures introduced by the Federal Housing Authority (FHA) to simplify its procedures meant to block leakages and eliminate corruption in its operations.

    Such measures include the establishment of a Central Land and Property Registry (CLPR), which is being upgraded to the FHA Geographic Information System (FHAGIS); creation of a project monitoring and evaluation unit, and the establishment of a one- stop shop for most of the procedures for approvals.

    The introduction of the FHAGIS appears to be well timed given that the anti-corruption commission is planning to conduct a housing audit soon. The FHAGIS, it is believed, would provide good platform to leverage on the numerous opportunities it provides.

    According to a document made available to The Nation Property, the Chairman of the Commission, Mr. Ekpo Nta, who gave the nod while receiving the FHA’s team led by its Managing Director, Prof Mohammed Al-Amin in his office, expressed delight that the FHA had become a model agency in the anti-corruption war rather than just remain like many agencies which talk about corruption but would not take steps against it. He, therefore, praised the authority for having the courage to take the necessary steps forward.

    While assuring the authority that the commission would, as soon as it receives the details of the measures, publish them on its website to demonstrate to the world that the organisation had become a leading light in the fight against corruption, Nta said he could see the total change concept playing out in the authority and praised Al-Amin for establishing the CLPR which he said would address the problems of loss or missing files and double allocations.

    The Chairman said when his commission was faced with similar problems and anomalies in the management of case files, it introduced a central registry and digitalised all files from 2001 to date.

    This process, Nta noted, may be the solution to complaints of some members of Nigerians in Diaspora Organisation (NIDO), Germany Chapter, who had complained to the ICPC of being defrauded by Nigerians at home, particularly on housing matters.

    “Those Nigerians abroad made a passionate appeal for the assistance of the ICPC to help them curb the endemic corruption in housing matters in the country,” he explained, while assuring that with the steps already taken by FHA to clean up its system, he would link the Authority with NIDO so that its members could begin to transact all their housing business through the FHA Mortgage Bank.

    Earlier in his address, Al-Amin noted that the monetisation policy adopted by the government created challenges for new staff and those whose status improved as a result of promotion now lack befitting accommodation.

    He said the FHA had designed a housing delivery model which would encourage staff, especially those in the security and law enforcement agencies to acquire land in their preferred location while the authority would assist them in developing it.

    In doing that, the FHA boss said the authority would use its special relationship with the Federal Mortgage Bank of Nigerian to help those concerned secure their contributions to the National Housing Fund (s) to finance such development.

  • ICPC arraigns ex-DG of NIHSA in court over N603m fraud

    ICPC arraigns ex-DG of NIHSA in court over N603m fraud

    The Independent Corrupt Practices and Other Related Offences Commission (ICPC) yesterday said it has arraigned a former Director- General of Nigeria Hydrological Services Agency (NIHSA), Mr. John Ayoade Shamonda, in court for

    alleged mismanagement of N603 million intervention funds.

    A statement by the spokesperson for the commission, Rasheedat A. Okoduwa, said the diverted funds were meant for the rehabilitation and replacement of damaged hydrological equipment of the agency.

    The statement said: “Shamonda was arraigned on an eight-count charge before Hon. Justice O.A Adeniyi of the High Court of the Federal Capital Territory Abuja, on offences bordering on the falsification of statements on usage of the relief fund and diversion of part of the funds to service other contracts outside the approved purpose.

    “The accused actions were contrary to Sections 16, 17 (1) (C), and 22 (5) of the Corrupt Practices and Other Related Offences Act, 2000 and punishable under the same sections.

    “The prosecuting counsel of the commission, Mr. Okechukwu Igbudu, also accused Shamonda of diverting and spending part of the money on a workshop, which contravenes Section 22 (5) of the Corrupt Practices and Other Related Offences Act, 2000.

    “After the charges were read to the accused, he pleaded not guilty to all allegations laid against him by the commission.

    “Counsel to the accused, Mr. Michael Bello, tendered an application for bail before the court based on the fundamental human rights of his client.

    “Justice Adeniyi, in his ruling on the application, granted the accused bail in the sum  of N10million and a surety not below the level of a Director in the Federal Civil Service or be remanded in ICPC custody till the date of trial if the bail terms were not met.

    “He further ruled that 11th and 12th of July, 2016 respectively would be the days for continuation of trial.”

    Meanwhile, ICPC said a Niger State High Court sitting in Minna has sentenced a civil servant,  Mr. Lawal Idris Abdullahi, to six years imprisonment for fraudulently receiving monthly emoluments from two federal government agencies.

    A separate statement said: “Abdullahi was arraigned before the acting Chief Judge of Niger State, Justice Maria Sanda Zukogi, by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on a six-count charge bordering on making false statements to public officers, thereby contravening Sections 25 (1) (a) of the Corrupt Practices and Other Related Offences Act 2000 and 122 of the Nigerian Penal Code and punishable under the same sections respectively.

    “The commission had swung into investigation after receiving a petition on Abdullahi’s fraudulent and dishonest activities from the National Identity Management Commission (NIMC) where he was working and at the same time drawing monthly salary from the Federal Inspectorate Service, Minna, which is an agency under the Federal Ministry of Education.

    “ Shortly after the commencement of his trial, Abdullahi’s solicitors notified the trial judge of their intention to explore the plea bargain option which was not opposed by ICPC’s prosecuting counsel, Mrs. O.O. Oluwadunsi and Mr. O. A. Obajunwon-Ogunlana.

    “Justice Zukogi, upon conclusion of the plea bargain and sentencing agreement, convicted and found Abdullahi guilty of all the counts in the charge brought against him after he had pleaded guilty on all counts.

    “She, therefore, sentenced him to one year imprisonment on each of the counts which cumulated to six years that will run consecutively with the option of the payment of a fine of N40,000 only on each of the counts amounting to N240,000.

    “Abdullahi was, in addition, bound and ordered to execute a bond in the sum of N100,000.00 to be of good behaviour for one year.”

    ICPC commended the management of the National Identity Management Commission (NIMC) for the courage of reporting this incident and other related offences like falsification of Academic certificates for investigation which has led to successful convictions.”

  • ICPC arraigns pay officer for diverting N103m

    The Independent Corrupt Practices and Other Related Offences Commission (ICPC)  has charged a Federal Pay Officer in Abeokuta, Ogun State, Mr. Lawal Wilson Olusegun, to court for allegedly diverting N103 million meant for infrastructural development and meal subsidies of three federal government colleges.

    The affected schools are – Federal Science Technical College Ijebu-Imushin, Federal Government Girl’s College, Sagamu and Federal Government College, Odogbolu.

    The ICPC in 2015 recovered about N56 million out of N103 million stolen by the accused person from the votes for meal subsidies and other developmental projects in the three colleges.

    This amount represents the refund he made directly to ICPC Recovery Account. He has however made other refunds.

    A statement by the spokesperson/Commissioner, Public Enlightenment Department of ICPC, Rasheedat Okoduwa, said: “At the conclusion of investigations, Mr. Olusegun was formally arraigned before Hon. Justice O. O. Majekodunmi of Ogun State High Court, No. 6 in Abeokuta on April, 25, 2016 on a 24-count charge for conferment of corrupt advantage upon himself ’when he diverted the said subsidy monies through his company SOG BEST CONCEPT NIGERIA LTD to his personal use without any authorization’, contrary to and punishable under Section 19 of the Corrupt Practices and Other Related Offences Act, 2000.

    “He was also charged for fraudulent acquisition of property contrary to and punishable under Section 12 of the Corrupt Practices and Other Related Offences Act, 2000, ‘when he knowingly registered a private Limited Liability Company, while still being in the employment of the Federal Government of Nigeria, with the sole aim of using same to do business with his employer (Federal Government of Nigeria), and in that character used the said company to divert subsidy monies for the schools to his personal use’’.

    “The accused person pleaded not guilty to all the charges brought against him.

    “The trial judge granted him bail but remanded him in prison custody pending the fulfillment of the bail conditions given by the court.”

    But the statement said the recovered N56million had been returned to the affected schools.

     

  • TUC to ICPC, EFCC: expose states that mismanaged bailout funds 

    TUC to ICPC, EFCC: expose states that mismanaged bailout funds 

    The Trade Union Congress of Nigeria (TUC) has called on the Independent Corrupt Practices and other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) to intensify their investigations into how states utilised the bailout funds. Twenty-three states got the fund last year to offset workers’salaries, allowances and retirees’ pension.

    In a statement by its President, Comrade Bobboi Kaigama, TUC lamented what he called the uncontrolled greed and quest for materialism by some governors and politicians.

    The attitude, it said, was worrisome, especially at a time of economic crunch and owing of workers’ salaries.

    ”The Congress is unimpressed by the porous explanations in the national dailies by some governors and their commissioners for information on how the monies were spent. As a labour centre we get first-hand information from our members in all the states of the federation.

    “We, therefore, know that some state governments are being economical with the truth when they make statements purporting that they have settled all their indebtedness to their workers. Even where a particular state government pays some of the outstanding entitlements, does that automatically translate to a liquidation of the entire debt?” Kaigama asked, noting that officers of the ICPC and EFCC should beware of the mischievous posturing in bank transfer documents presented by the states.

    The TUC president said it was inexcusable for any governor to neglect the payment of workers and divert the funds. He said weighing such actions against the backdrop of the recent happenings in the Senate raised serious concern about some politicians’ integrity.

    Endorsing the actions of the ICPC and EFCC, the Congress said the commissions should not give room to intimidations by any individual or group, who might want to upturn the course of  justice.

    ”We know that corrupt politicians will want to employ all antics to oppose the work of both commissions; all stolen wealth must be recovered. And any state that fails to make prompt payment of salaries and pensions will definitely face the wrath of Nigerian workers,” Kaigama said.

    He said as a labour centre, the fight against corruption and its effects on the growth and development of the nation is of very special interest to labour and all Nigerians.

    He added that the success of the crusade is the insurance that most Nigerians have to decent living, and the guarantee that the nation will stand strong and take its place among the leading nations of the world. Kaigama said the upsurge of corruption in Nigeria in recent times is particularly disturbing.

    “Indeed, statistics reveal that Nigeria is 163rd out of 172 countries in Transparency International’s Corruption Perception Index, with its yearly corruption level in recent years averaging $5 billion.  It has done unquantifiable damage to the national life.

    “For instance, the menace of corruption leads to slow movement of files in offices, fuels police extortion, accentuates traffic jams, port congestion, queues at passport offices and petrol stations, ghost-workers syndrome, election irregularities, inflation of budgets and contract fees,” he said.

    Kaigama noted that corruption pervades most establishments in Nigeria, private or public. He said apart from the political class, the justice system is another culprit.  “As a result of corruption, justice is perverted and judgment is often delivered in favour of the guilty that are able to pay their way through,” he said.

  • Bailout: Between Enugu govt and ICPC

    Recently, some newspapers reported on the alleged mismanagement of the bailout fund given to 27 states by the federal government. The reports purportedly emanating from the Independent Corrupt Practices and Other Related Offences Commission (ICPC), alleged that Enugu State government utilised N6 billion out of the N10.2 billion bailout fund collected last November to settle domestic debts, thus leaving staff salaries and emoluments unpaid.

    Expectedly, some of affected state governments have denied the allegation putting the ICPC on the spot. While it is not impossible that some state governments may have mismanaged or diverted parts of the fund for other purposes, it is also a fact that some states have utilised theirs for the purpose it was meant for – which is settling outstanding workers’ salaries and emoluments.

    From the referenced ICPC report on Enugu State government’s use of the bailout fund, it is obvious that the ICPC did not find out from the workers in the state on when last they were paid salaries before arriving at its conclusion. It is expected that in the process of investigating on how states disbursed the bailout funds, ICPC would have at least approached the Central Bank of Nigeria (CBN) to get all the necessary documents submitted by the beneficiary states which was part of the conditions before the funds were released to them by the apex bank. If it had, ICPC in their reports would have been more accurate and precise on how much were requested by the states and how much were given to them and when. This is in order to avoid being speculative and mischievous as the case of Enugu State alleged to have collected N10.2 billion.

    The Enugu State government through its Secretary to the State Government, Elder Gabriel Ajah, and the state chapter of the Organized Labour in a statement jointly signed by Comrade Virginus C, Nwobodo, chairman, NLC; Comrade Igbokwe Chukwuma Igbokwe, chairman, TUC/JPSNC and Comrade Theo. O. Obasiani, secretary, JPSNC have refuted the claim saying that contrary to the figures bandied in the ICPC report, the state actually collected the sum of N4,207,000,000.00.

    Understandably, the workers in the state comprising the Nigeria Labour Congress (NLC), the Trade Union Congress (TUC) and the Joint Public Service Negotiating Council (JPSNC) have described the allegation by the ICPC as false and misleading and a deliberate attempt to instigate workers and good people of Enugu State against the state government as well as tarnish the good image of the state.

    The workers their joint statement averred that “the Organised Labour in Enugu State is seriously embarrassed by the false, unfounded and malicious publication purported to have emanated from the office of the Independent Corrupt Practices and other Related Offences Commission (ICPC).” It explained that “a committee comprising labour and government was set up to verify, monitor and disburse the funds to the beneficiaries, adding that as at the time referred to by the newspaper publication of February 29, over 60% of the fund has been disbursed to the beneficiaries while the verification and disbursement exercise will continue till May 31, as some of the beneficiaries (pensioners) are yet to show up for verification.

    While expressing satisfaction with the management of the N4.207 billion bailout fund for payment of arrears of pensions and salaries, the Labour noted that it will continue to partner the state government for good governance and sustainable development of the state.

    Of course, since coming into office, Enugu State governor, Ifeanyi Ugwuanyi has made workers’ welfare his government’s topmost priority. Given the character of the state as a civil servant state, his government has not only ensured that workers got their due, but has also carried them along in his developmental initiatives. This has been attested to by the leadership of the workers in the state and the national level.

    Indeed, during a fact-finding mission in the state towards the end of last year, President of Nigerian Labour Congress (NLC), Comrade Ayuba Wabba and his Trade Union Congress (TUC) counterpart, Comrade Bobboi Kaigama alongside other labour activists could not hold their joy over the state government’s responsiveness and commitment to the workers‘ needs and welfare in the government’s policy thrust of ensuring transformed lives of the entire Enugu people.

    Speaking during the mission, NLC president, Wabba said: “I(  think in this country we are beginning to have leaders at the helm ( of affairs that are truly leaders. I strongly believe( that Enugu State is a lucky state. You have shown us that workers in your state are partners in progress, not slaves”.

    Speaking at this year’s Workers’( New Year Prayer session, Governor Ugwuanyi said: “We will continue to pay salaries. It is( only when we pay salaries that we can activate the economy of the state. This is because Enugu State is more of a civil service state. Enugu State TUC chairman, Chukwuma Igbokwe also on the occasion said: “Even when some ( states are having issues with the bailout fund, Ugwuanyi made sure(  we are involved in the management and disbursement of the fund to the extent that civil servants whose salaries and allowances were being( owed were paid…On the issue of arrears of the absorbed workers, we also approached him and we reached agreement. He has ( never promised the workers and failed them.”

    With such overwhelming testimonies and confessions about Ugwuanyi-led government’s responsiveness and commitment to their welfare since coming into office, the question is where did the ICPC’s report of alleged mismanagement of the state bailout emanate from. Was it a case of Biblical voice of Jacob and hand of Esau? Why did the ICPC choose to play to the gallery rather do their investigation on the bailout fund thoroughly? Is it a case of being used to do a dirty job against the state government? If not, why has ICPC remained silent in the face of the strong and obvious denial by the Enugu State government and Organized Labour in the state? Nigerians know that ICPC’s silence is not golden; it is suspicious and misleading. Again, if truly the reports were investigated and compiled by the ICPC and Nigerian Labour Congress (NLC) as claimed by the ICPC, why hasn’t the leadership of the NLC substantiated or authenticated the reports?

    It is a known fact that most anti-graft agencies in the country including the ICPC abandoned their constitutional responsibilities in the past. Some have just suddenly woken up from slumber since the inception of the present APC-led administration. Nonetheless, it is very important for due diligence to be followed and professionalism to be exhibited in investigating sensitive a issue like the disbursement of states’ bailout fund. This is to avoid misleading the public and instigating the workers against their state governments.

    It is on record that since Ugwuanyi came into office, Enugu workers have not embarked on or threatened to embark on strike over issues of salaries or arrears. It is also indisputable that Enugu is one of the states with the least bailout fund with N4.207 billion out of the N32( billion requested for. The implication is that the state workers are the probably the best bailed out given the precarious financial situation facing workers across the country today. Anyone with contrary information should provide it with incontrovertible evidence and not misleading reports as we have seen from the ICPC.

     

    • Mrs. Ugwuada, a retired civil servant wrote from Nkanu, Enugu State.
  • Reps to probe EFCC, ICPC, others over N4tr recovered loot

    Reps to probe EFCC, ICPC, others over N4tr recovered loot

    The House of Representatives is to investigate Nigeria’s anti-graft agencies over the whereabouts of N4 trillion recovered public funds since 1999.

    This came as the lawmakers denied insinuation that N100 billion was approved for zonal intervention projects for members of the National Assembly

    House Spokesman Abdulrazak Namdas, at his weekly briefing yesterday, said it was only N60 billion that was “graciously approved by President Muhammadu Buhari in the 2016 budget that is yet to be signed into law”.

    The looted funds investigation, to be carried out by the Public Account Committee (PAC), was prompted by the pronouncement of Minister of Justice and Attorney General of the Federation (AGF) Abubakar  Malami that over N4 trillion($2 trillion) looted from the national treasury have been recovered by the Economic and Financial Crimes Commission (EFCC) in its 12 years of existence.

    Sponsor of the motion Segun Adekola (PDP, Ekiti), noted that further recoveries have been made by the Independent Corrupt Practices Commission (ICPC), National Agency for the Prohibition of Trafficking in Persons  (NAPTIP), National Drugs Law Enforcement Agency (NDLEA) and the Department of State Services  (DSS), in addition to the huge amounts of money returned by those whom at various times entered into plea-bargain with the EFCC.

    “The government has asserted that some officials of the previous government have been returning unspecified sums of money.

    “We are aware that for many years now, successive governments have  continued to take possession of billions of dollars of looted public funds returned from various parts of the world with Switzerland returning a higher percentage of the amounts.

    “One is, however, concerned about the persistent confusion as to the exact amount that had been recovered,  and what happened to it, while successive government have not been transparent regarding their management or spending of recovered public assets, giving vent to the allegations that some of the recovered funds may have been spent, mismanaged or simply disappeared,” he said.

    In addition to the PAC investigation, Committee on Financial Crimes was mandated to investigate whether any crimes might have been committed in the course of the management and disbursement of the recovered funds in the last 12 years.

    The motion was unanimously adopted after it was put to a voice vote by the Speaker, Yakubu Dogara.

    Speaking on the intervention project fund, Namdas said it was true that N100 billion was proposed for the projects by the Executive, but it was pruned down to N60 billion.

    He said since the budget has not been signed into law, ministries and agencies have not accessed the money to execute the projects.

  • ICPC Vs lawmaker:  Court adjourned to June 10

    ICPC Vs lawmaker:  Court adjourned to June 10

    The Benin High Court presided over by Justice Esohe Ikpomnwen Monday berated counsel to the Independent Corrupt Practices and other Related Offences over actions the court described as delaying justice in the case between the ICPC and a member of the House of Representatives, Mr Philip Shaibu.

    The ICPC is prosecuting the APC lawmaker for alleged forgery of tax certificate from the Edo State Board of Internal Revenue. But at the proceedings Monday, the prosecutor failed to produce one of their star witnesses whom they claimed is on official duties in Borno state.

    And the court had in their last meeting warned that the case will not be adjourned again if the police officer said to be the IPO in the case failed to show up in court. Justice Ikpomnwen became angrier when the prosecutor, G.O.Igbadume failed to serve the Acting Chairman of the Board of Internal Revenue in the state, Mr Emmanuel Usoh, the correct subpoena which would have enabled him produce some documents requested by the court.

    Her response came after Usoh told the court that “ I was served with a subpoena and not a notice my Lord”. Justice Ikpomnwen who addressed the prosecutor, asserted that “ he (Usoh) made a technical point because I am sure you allowed somebody else prepare the papers for you and what they gave to you was different from what you asked for.

    “And that is why he (Usoh) did not come with any documents as we requested from the Board of Internal Revenue. I am not the one to do your job for you. Please you must ensure that you liaise with the Registrar so you can produce another subpoena that has the listed documents we requested for. We all must show seriousness in order not to delay justice,” she asserted.

    The court therefore adjourned till June 10, 2016, enable the prosecutor process a fresh subpoena and ensure that the correct paper is issued and served on the witness.

    However, the second prosecution witness, Mr Okharedia Ihimikpen was cross examined by both the defendants’ lawyer, Ken Mozia (SAN) and ICPC Counsel, G.O. Igbadume.

     

  • ICPC: 16 states yet to disburse N57.6bn bailout funds to offset salaries

    ICPC: 16 states yet to disburse N57.6bn bailout funds to offset salaries

    The Independent Corrupt Practices and Other Related Offences Commission (ICPC) yesterday said 16 states were yet to disburse about N57, 663, 185, 735 out of the bailout funds approved for them by President Muhammadu Buhari.

    The agency also indicted some of the states for diverting the bailout funds which were meant for workers’ salaries to other use, including Imo, Zamfara and Enugu

    Some states were yet to either collect or utilize the bailout funds as at the time the ICPC compiled its report.

    Those in this category are Sokoto, Kogi and Bayelsa states.

    The ICPC made the disclosures in a statement in Abuja by its spokesperson, Edet Ufot, on the report of its investigation into the use of bailout funds by 23 states.

    In the document, ICPC/P.E/27/S.1, which was dated April 22, 2016, the commission said: “The report comes under ICPC Prevention mandate and states are welcome to use this initiative.”

    Some states that have not fully utilized their bailout funds are as follows: Adamawa (N7,200,000,000); Bauchi (N195,011, 616m); Benue (N1,650, 084,000.520); Cross River (N4,715, 516, 959); Ekiti (N390,613, 747m); Katsina (N8,574,415,469); Gombe (N4, 361, 119,848.27); Ondo (N1, 537,575,050.32);  Osun (N16, 311,765,418); Plateau (N26, 980,938.85m); Kwara (N29,862,014.92m); Oyo (N1,111,652, 408.40); Delta (2,806,911,019.50); and Kebbi (N4,463,975,420.27).

    The commission said: “As part of the Federal Government’s  effort to end the lingering crisis of unpaid workers’ salaries in most  states of the federation, President Muhammadu Buhari approved a comprehensive relief package designed to salvage the situation through the Central Bank of Nigeria (CBN)’s Special Intervention Fund which offered affected states’ soft loans solely for the purpose of paying the backlog of salaries.

    “Whereas the Central Bank of Nigeria (CBN) is yet to officially confirm this to the commission, the 27 benefiting states from the open sources are: Abia, Adamawa, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Gombe, Imo, Katsina, Kebbi, Kogi, Kwara, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Sokoto and Zamfara.

    “Following strident allegations of diversion of these bail-out funds and to avoid industrial unrest, ICPC in collaboration with the Nigerian Labour Congress (NLC) decided to monitor the disbursement of the bailout funds in the 27 benefiting  states. However, relying on available sources we could only cover 23 states.

    “The Independent Corrupt Practices and Other Related Offences Commission (ICPC), working in concert with the Nigeria Labour Congress (NLC), made good its resolve to monitor the bailout funds for the offset of salary arrears loaned to 27 states of the federation as approved by President Muhammadu Buhari.

    “Following the conclusion of the monitoring exercise, the commission hereby wishes to issue, for public notice, the report of the exercise. The commission also will not hesitate to provide updates to this report where applicable.

    “It is important to note that the monitoring exercise report and probable updates are being released to the public by the ICPC to foster understanding between workers and the state governments by providing a transparent process that eliminates information gaps that often lead to rumour-mongering.

    “The commission is convinced that this will promote a healthy atmosphere for interaction between the parties on the matter.”

  • ICPC to protect assets of privatised firms

    ICPC to protect assets of privatised firms

    The Chairman of the Independent Corrupt Practices and Other related Offences Commission (ICPC), Mr. Ekpo Nta, has said the commission will collaborate with the Bureau of Public Enterprises (BPE) to protect privatised enterprises from asset-stripping by the new owners.

    Nta spoke when the management of the Bureau of Public Enterprises (BPE), led by its Acting Director-General, Dr. Vincent Onome Akpotaire, visited the Commission.

    He said: “ICPC will  also collaborate  in  the post-privatisation activities of the BPE since some of the investors after takeover often engage in assets-stripping, thus negating the essence of privatisation.”

    Nta said the ICPC was interested in strengthening public institutions to ensure that public funds were not to enrich individuals.

    The chairman urged the BPE to constantly monitor privatised enterprises to achieve set objectives.

    He expressed hoped that the synergy which the Bureau seeks with the commission would bring about results, especially in investigation and intelligence gathering.

    According to him, the commission had the expertise to carry out due diligence and background checks on prospective investors.

    He listed the gains of privatisation as; preventing use of public wealth for private gains, a veritable tool for the fight against corruption and efficiency in service delivery.

    Akpotaire said the bureau would step up its privatisation processes in line with international best practices.

    He said: “ICPC is an integral partner in the bureau’s transactions and its input will be beneficial to the upgrade initiative and the national economic objective… The growing trends of white collar crimes across the globe which makes it necessary to close the gaps and help the commission to be familiar with our processes.”

  • ICPC, BPE to stop stripping of privatised assets

    ICPC, BPE to stop stripping of privatised assets

    The Chairman of the Independent Corrupt Practices and Other related Offences Commission (ICPC), Mr. Ekpo Nta has pledged the Commission’s desire to collaborate with the Bureau of Public Enterprises (BPE) to protect privatized enterprises in the country from asset- stripping by the new owners.

    Speaking against  the backdrop of reported cases of asset-stripping by owners of privatised enterprises in the country, the ICPC boss commended the initiative by the BPE to partner with the Commission and assured that apart from getting involved as observers in the transaction processes of the Bureau,”ICPC will  also collaborate  in   the post-privatisation activities of the BPE since some of the investors after takeover often engage in assets- stripping thus, negating the essence of privatization”.

    Nta who made this known when the management of the Bureau of Public Enterprises (BPE) led by its Acting Director General, Dr. Vincent Onome Akpotaire paid a courtesy visit to the Commission, said ICPC was interested in strengthening public institutions to ensure that public funds do not enrich individuals.

    The BPE’s head, Public Communications, Mr. Alex Okoh made this known in a statement Tuesday.

    The Chairman urged the BPE to constantly monitor privatized enterprises to achieve the objectives of privatization for the benefit of the citizenry. He expressed optimism that the synergy which the Bureau seeks with the Commission would bring about the desired results especially in the areas of investigation and intelligence gathering.

    According to him, the Commission had the expertise to carry out due diligence and background checks on prospective investors which are major ingredients for foolproof transactions by the Bureau. He listed the gains of privatization which include; preventing the use of public wealth for private gains, a veritable tool for the fight against corruption and efficiency in service delivery.

    He recalled that privatization was actually mooted in the 1970s with the nationalization policy in the days of Shell BP and Barclays Bank and that “privatization was not initially an economic policy, but an attempt to assert Nigeria’s independence”.

    Earlier, the Acting Director- General of the BPE, Dr. Vincent Onome Akpotaire had disclosed that the Bureau was poised to step up its privatisation processes in line with international best practices.

    Akpotaire called for increased synergy between both agencies to ensure an all encompassing upgrade of the transaction process. According to him “ICPC is an integral partner in the Bureau’s transactions and its input will be beneficial to the upgrade initiative and the national economic objective in its entirety”.

    He said transparency and integrity would remain key in the Bureau’s existing transaction processes and the proposed upgrade especially against the backdrop of “the growing trends of white collar crimes across the globe which makes it necessary to close the gaps and help the Commission to be familiar with our processes”.

    The Acting DG added that “resources are better utilized when such crimes are averted at the early stages of any transaction process”.

    The BPE Acting helmsman sought more intimate liaison between the two agencies as they both had a common goal to ensure transparent financial transaction process.

    He assured that the Bureau would at all times make all information about its transactions and processes available to the Commission when demanded.