BMO lauds MDAs on fight against corruption

Access Bank Plc

The Buhari Media Organisation (BMO) says there are clear indications of a new discipline in fiscal operations in government, including Ministries, Departments and Agencies (MDAs).

The BMO made this known in a statement signed by its Chairman, Mr Niyi Akinsiju, and Secretary, Mr Cassidy Madueke, in Abuja on Thursday.

The organisation said this development was due to the sustained and firm onslaught against corruption by the Muhammadu Buhari-led administration.

According to the BMO, a close observer will appreciate that fiscal expenditures are transparent and disbursements are geared towards developmental projects that cater for the interest of Nigerians.

“Corruption was so entrenched in the past that it somewhat took on a garb of government policy. Capital funds meant for development projects were doled out as political patronage. Not any more. Today, all the loose ends have been tied up.

“Building strong and reliable institutions has always been the focal objective of the administration. Deploying technology in the fight against corruption has been effective. Funds that would have been looted are being injected into the economy.

“A deliberate fiscal restructuring is being implemented through the Treasury Single Account (TSA) which resulted in the savings of over N10 trillion.

“The government also saved N288 billion through the implementation of the Integrated Personnel and Payroll Information System (IPPIS) which is the Efficiency Unit (E-Unit) for government expenditure in the MDAs.

“President Buhari’s commitment to the fight against corruption is boosting Nigeria’s image internationally and attracting a plethora of foreign stakeholders in collaborating with the Nigerian government in tracking illicit financial flows and repatriation of stolen funds to the country,” it stated.

It added that the fight against corruption would have more impact if all the three tiers of government implement these laudable policies which it noted had been successfully implemented by the Buhari administration.

The BMO said Nigeria was domesticating multilateral frameworks to sustain this fight as demonstrated in Nigeria’s membership of the Open Government Partnership (OGP), a global and reputable body committed to accountability and transparency in the management of public office, which also underscored this government’s commitment.

“The Nigeria Extractive Industries Transparency Initiative (NEITI) is already keying into this laudable policy, as its Beneficial Ownership Disclosure (BOD) makes it compulsory to report owners of companies operating in the extractive industries and have a public register of owners and corporate entities.

“Nigerians should take cognisance that this is the first time a Nigerian President is giving his total political will in the fight against corruption with the aim of triggering a multiplier effect on the economy.

“And ensuring that abandoned legacy projects are inaugurated and marshalled into the economic base,” the statement noted.

The BMO therefore enjoined Nigerians to understand that the negative impact of corruption and poor governance had held Nigeria back from harnessing its full economic potentials.