ICPC Explains Rapid Recovery Of ₦4 Billion In Stolen Public Funds Within 24 Hours

ICPC Explains Rapid Recovery Of ₦4 Billion In Stolen Public Funds Within 24 Hours

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has announced the recovery of approximately ₦4 billion in funds misappropriated by public officials within the past 24 hours.

Speaking on Thursday in Abuja during the One-Day National Anti-Corruption Coalition (NACC) Members Hybrid Interactive Forum, ICPC chairman, Dr Musa Aliyu mentioned that the nation was plagued by deep-rooted problems, particularly how public funds are being spent.

The Senior Advocate of Nigeria (SAN) emphasized the importance of putting money into tech solutions that could reduce the issues associated with corruption, especially when buying goods and services for the public.

He further stated that the commission plans to utilize Artificial Intelligence (AI) as a tool in its efforts to combat corruption.

Aliyu said: ”Today, I want to underscore the potential of technological solutions in promoting accountability and good governance.

”Technology can work wonders because it is not biased like humans. It can help us tackle challenges if we use it properly and effectively.

”This technology, as I have mentioned, has the capability to address numerous issues.

”We know there are digital platforms that sometimes, unfortunately, contribute to corruption

”However, I can tell you that in the last 24 hours, we have been able to recover four billion Naira of public funds, which were diverted into private accounts.”

The ICPC boss stressed how alarming it is to see how much money is being misappropriated, and some individuals have billions of naira in their possession for personal gain.

”It is a shocking reality that people are hoarding public funds, instead of using them for the benefit of the nation.

”As a commission, we are utilizing technology and management systems to restore confidence in the fight against corruption.

”We are committed to ensuring transparency in this endeavour. By implementing tech-driven processes, we can reduce practices like contract inflation.

”Using technologies like blockchain can help eliminate manipulation and ensure the integrity of public procurement.

”Data analytics are also crucial. The data we rely on is often outdated or inaccurate, which causes inefficiency. By embracing AI, we can easily convert certain processes to be more transparent and effective,” Aliyu said.

He underscored the importance of implementing preventive strategies to combat corruption.

”This is why social integrity and capacity building are essential. Civic engagement and public education are key to ensuring that people understand their rights and responsibilities.

”When citizens are aware, they can hold public officers accountable. We must empower our people. Four or five years ago, we could have seen this transformation if we had started then.

”There is the need to ensure that the systems we build today withstand the test of time and foster respect for human rights and dignity.

”We need to build a culture that discourages corruption and promotes ethical governance,” the ICPC chairman noted.

He urged the National Assembly to prioritize the swift enactment of the Whistle Blowing Act, emphasizing the importance of safeguarding whistle-blowers in the battle against corruption.

The Chairman of the Kano State Public Complaints and Anti-corruption Commission, Muhuyi Magaji, stated that combating corruption is a shared duty.

Magaji noted that when the community unites in the fight against corruption, it becomes significantly easier to overcome this challenge.

”When people own the fight against corruption, that is when it will always be strengthened. It is not for us at the government level to fight corruption alone.

”It needs the involvement of all, it is a collective fight so the occasion itself is a very important,” he said.

On his part, the Acting Director of Public Enlightenment and Education at ICPC, Demola Bakare, called upon the conference attendees to combat corruption rationally.

He encouraged them to thoroughly understand the legislation that created the commission, ensuring they could fulfill their duties efficiently.

Bakare mentioned that the battle against corruption resembled a long-distance race, requiring determination and stamina to achieve victory.

He assured the commitment of the anti-corruption body to all involved parties in the fight against corruption within the nation.