Corruption consumes 75% of Nigeria’s budget – Forensic Experts

Corruption consumes 75% of Nigeria's budget - Forensic Experts
Corruption consumes 75% of Nigeria’s budget – Forensic Experts

According to the Chartered Institute of Forensic and Investigative Professionals of Nigeria (CIFIPN), corrupt activities at all levels of government in Nigeria cost the country 70 to 75 percent of its national budget.

Dr Enape Victoria Ayishetu, president of the CIFIPN, stated this at a news conference in Abuja on Sunday.

She stated that if the proper processes and effective interventionist measures are not put in place to halt the tendency, the loopholes would persist.

She observed that creative budget concepts rarely result in the real execution of the government’s commendable expenditure system.

This, according to Ayushetu, is due to “well-orchestrated systematic and endemic massive corruption of the greatest proportion.”

She said that the majority of Nigeria’s riches “always end up as the result of fraud, corruption, and cybercrime.” This is a farce of logical realism because the government cannot explain why the vast sums we see in the national budget every year are rarely matched with a proportionate degree of realistic budget performance.”

Fraud, corruption, and cybercrime, she claims, “thrive” in Nigeria due to a lack of investigation and punishment.

She requested President Muhammadu Buhari to sign the Bill 2021 Establishing the Chartered Institute of Forensic and Investigative Professionals.

According to her, forensic investigation is critical to the nation’s economic recovery and the battle against fraud, corruption, and cybercrime.

You May Also Like