×

Nigerian Accountants Urged To Expose Corruption In Every Sector

A former Minister of State for Finance, Mr Femi Babalola, has tasked chartered accountants across Nigeria to henceforth ensure the exposure of corruption in every … Continue reading Nigerian Accountants Urged To Expose Corruption In Every Sector


Femi-Babalola,A former Minister of State for Finance, Mr Femi Babalola, has tasked chartered accountants across Nigeria to henceforth ensure the exposure of corruption in every sector of the economy.

He said that such effort would save Nigeria from the bad state into which past leaders and persons in high positions had plunged it.

Addressing a gathering of accountants in Abuja on Tuesday, Mr Babalola said that the over 40,000 professional accountants spread across Nigeria were enough to remedy the stagnation where states owe salaries and government institutions such as the Nigerian National Petroleum Corporation plunder funds through Sharp accounting.

He decried the high rate of poverty in Nigeria, saying that over 120 million persons in the oil-rich nation, with a population of about 160 million, were living below poverty line.

“It is calculated based on those people that are earning below $1.25,” he said, stressing the enormity of the problem in Nigeria.

Mr Babalola stressed that the only persons that could address the problems of resource mismanagement, corruption, inefficiency and  ineffectiveness in Nigeria were professional accountants.

The former Minister, who lost his appointment after announcing that the NNPC was insolvent in 2010, said all the funds looted from Nigeria’s treasury must be recovered as soon as possible towards ending corruption, poverty and violence.

Nigeria’s President, Muhammadu Buhari, is keen about the promise made during his campaign to ‘kill corruption’ in Nigeria.

He had earlier urged accountants to support his support the anti-corruption war aimed at recovering Nigeria’s stolen funds.