Professor Bolaji Olukoyede, the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), has revealed that procurement-related fraud accounts for a staggering 90% of corruption within the Nigerian public sector.
Thank you for reading this post, don't forget to subscribe!Naija247news gathered that Professor Olukoyede made this disclosure during a public lecture at the National Institute for Policy and Strategic Studies (NIPSS) in Kuru, Jos, Plateau State. He emphasized that corruption in the procurement process has significantly hindered the country’s development and eroded public trust in government institutions.
Naija247news understands that Professor Olukoyede highlighted various forms of procurement fraud prevalent in the public sector, including bid rigging, inflated contracts, ghost projects, and the diversion of public funds. He noted that these corrupt practices deprive the nation of critical resources that could be used for essential public services such as healthcare, education, and infrastructure development.
According to Naija247news, Professor Olukoyede called for a comprehensive reform of the public procurement system, emphasizing the need for greater transparency, accountability, and integrity in all procurement processes. He advocated for the implementation of robust monitoring and evaluation mechanisms to ensure that public funds are utilized efficiently and effectively.
Naija247news reports that the ICPC has been actively engaged in combating corruption in the public sector, including investigating and prosecuting cases of procurement fraud. Professor Olukoyede reiterated the Commission’s commitment to upholding the highest standards of integrity and transparency in public service. He urged all stakeholders, including government officials, contractors, and civil society organizations, to play their roles in ensuring that public resources are utilized for the benefit of the Nigerian people.
