Business
SMEs, Others Seek Tracking Of Coronavirus Spending
A consultant to the World Bank, Prof Abel Ogunwale, has warned that governments at all levels were at the risk of suffering fraud losses and corruption due to the high value of emergency relief disbursed during the COVID-19 pandemic.
Ogunwale urged the government to include anti-corruption measures to ensure that corruption does not prolong the suffering of the people or undermine the economic recovery from the crisis.
He urged the government to ensure that resources allocated toward fighting the virus are not stolen or misappropriated by corrupt actors.
The President, Association of Micro Entrepreneurs of Nigeria (AMEN), Prince Saviour Iche, said the country was losing millions of naira to corruption, urging increased tracking and monitoring of spending by federal agencies and state governors to combat the coronavirus pandemic.
According to him, fraud, bribery and corruption were undermining the programme and putting even greater pressure on public services at a time of crisis.
The group’s Programme Director, Development Dynamics, Dr Jude Ohanele, expressed concern that systemic corruption across the country is hurting the federal and state authorities’ responses to the coronavirus crisis.
According to him, corruption in the spending of funds to combat the virus has undermined public trust in any efforts by the government to bring palliatives to sectors and Nigerians as they have been denied access to kits and financial relief.
The President, Association of Small Business Owners of Nigeria (ASBON) Dr Femi Egbesola, said:” No doubt, as it is the practice in Nigeria, every opportunities and challenges are fraught with fraud and corruption. Public spending on the Covid-19 pandemic will be no different.
“Already Interpol has halted a $1.5 million facemask fraud traced to Nigeria. This is massive fraud. The food relief palliatives has been perceived by the members of the public as day light financial arm twisting. Available medical equipment are a shadow of funds received as donations and budget.
“Palliative conditional fund transfers are said to have benefitted millions of households with billions already spent but the people say they have not received the expected fund. The acknowledgement from expected beneficiaries are not in public domain to confirm the claims of government.”
One way to curtail this, according to him, is for the agencies and ministries involved, to be more transparent in their transactions.
“Just as companies and banks are expected to publicly publish their monthly income and expenditure, those involved in this Covid 19 ventures should also publish theirs,” he said.
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