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Corruption: Economist Canvasses Forensic Accounting

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An Economist, Mr Deji Okubanjo, last Tuesday called for the adoption of forensic accounting and auditing in tackling financial crimes in both the private and public sectors of the economy.

Okubanjo told newsmen in Omu-Aran, Kwara, that the call became necessary due to the failure of audit systems in curbing large scale financial irregularities.

The expert described forensic accounting and auditing as forms of investigation and enquiries that had legal implications in examining the legitimacy of an occurrence based on evidence.

Okubanjo, who is also the Director of Financial Services, Landmark University in Omu-Aran, said that audit system had failed to prevent and reduce severe financial irregularities and should be replaced.

“The need for forensic audit and accounting arises because internal and external audit have failed to figure out certain severe malpractice and falsifications in the managerial system,” he said.

Okubanjo highlighted factors militating against the audit systems to include non adherence to compulsory statutory audit rotation and non use of merit in appointing statutory auditors.

Other factors are internal audit and audit committees’ failure to throw more light on the different facts and other hidden aspects of corporate fraud.

He said that while the internal auditors might be able to detect fraud, the absence of a whistle blowing system would make it almost impossible to report and take proper action in time.

The expert said that corruption in third world countries was becoming alarming and was not only crumbling the economy, but affecting the citizens’ standard of living and their image.

“For this reason the services of forensic accountants and auditors are more required in developing economies and more especially in the public sector.

“The Institute of Chartered Accountants and regulatory bodies in all developing countries should encourage formalisation and specialisation in the field of forensic accounting and auditing,” he said.

Okubanjo singled out the Economic and Financial Crime Commission as the only body in the country that was intensively fighting crime through forensic investigation.

“Through this, the commission’s high profile cases are thoroughly investigated,” he said.

Okubanjo also suggested the introduction of forensic crime investigation in the school syllabus to catch young brains who might be interested in pursuing it as a career.

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WWD: RSG Restates Commitment To Quality Water Provision

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As Rivers State joined the rest of the world to mark the 2020 World Water Day, the atate government has restated its commitment to provide potable water to the people of the state.
Commissioner for Water Resources and Rural Development, Dr. Tumunosisi Gogo Jaja said this in a special broadcast to mark the 2020 World Water Day In Port Harcourt.
The World Water Day was celebrated on Sunday the 22nd of March 2020.
The United Nations had designated 22nd of March every year as World Water Day.
The event has been celebrated since 1992 the theme for this year’s celebration was “Water and Climate Change.”
Dr. Gogo Jaja said in line with the New Vision programme of the present administration, the government is determined to provide fresh and clean water to the people of Rivers State.
He listed some efforts by the government in the provision of water to the people to include, the completion and commissioning of the Okrika Island water project, the on-going Odioku Water Project in Ahoada East while efforts are being made to revive the abandoned Otamiri water scheme.
Gogo Jaja said the government in conjunction with the European Union (EU) under the Niger Delta support project has provided water to Opobo Town, Nkoro while solar powered water has been provided to Kalaibiama, Iloma, Ekereborokiri all in Opobo/Nkoro Local Government Area.
He said similar gesture was replicated in some communities in Akuku-Toru Local Government Area.
The Commissioner described the theme of the celebration which is “water and climate change” as apt as climate change is now affecting the entire society.
According to him, the celebration was to advocate for the sustainable management and security of water sources.

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LG Boss Tasks Communities, Churches On Personal Hygiene

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In a move aimed at checking the spread of coronavirus to Oyigbo Local Government Area, the council has urged churches, markets and communities to promote the highest level of personal hygiene in their areas.
The council chairman Prince Gerald Offorji, who said thus during an environmental sanitation exercise in the area said the directive was in line with the desire by the State Government to ensure that the disease does not spread to the state.
He also said the council will enforce the order to ensure compliance.
The council boss said the campaign will be taken round all communities and compounds in Oyigbo to ensure that no one is left behind.
According to him, time has come for the people to take the cleanliness of their environment seriously, warning that the council would no longer allow people to continue to deface Oyigbo with refuse.
“In our effort to maintain hygienic environment and avoid coronavirus and other diseases ravaging the world, all hands must be on deck to keep Oyigbo clean” he said.
While commending the people for their large turnout during the sanitation exercise, Prince Offorji also solicited the supports of both corporate and non government organisations to join in the campaign to keep Oyigbo clean.
“Our vision is geared towards ensuring clean environment, that is capable of attracting investors to generate revenue.”
The chairman said clean environment remains the key in the council drive to take Oyigbo to greater height adding that a number of youths have already been engaged in the environmental sanitation sector.

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Rumuokoro Abattoir Promises High Level Hygiene

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The management of Rumuokoro Abattoir in the Obio/Akpor Local Government Area has assured the Rivers State Government of its preparedness to maintain the highest level of personal hygiene in its operations.
Director of the abattoir, Mr Clinton Ichegbo said this in an interview with newsmen shortly after the visit to the abattoir by the Rivers State House of Assembly Committee on Agriculture.
Ichegbo, who is also the landlord to the abattoir said the slaughter, which is the second largest in the state will continue to remain the cleanest in the state.
He said butchers in the market are constantly mobilised to embark on weekly sanitation of the slaughter slab which is regularly cleansed to avoid infection.
According to him, the slaughter authorities is working with veterinary doctors to ensure that meat sold in the area have no traces of injection by any viruses.
Ichegbo also said coronavirus will have no place in the slaughter as movements in and out of the area, are strictly monitored.
He listed some on-going projects in the abattoir to include, the construction of goat houses and slab, among others.
He commended the Rivers State House of Assembly Committe on Agriculture for the visit, stressing that some of their observations will be taken into consideration with a view to further improve the hygienic condition of the slaughter.

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