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No Government Financial Transaction Will Be Done In Secret – Buhari

Speaking at the Passing Out Parade of Detective Inspector Course Five of the Economic and Financial Crimes Commission, EFCC, on Tuesday in Kaduna, President Muhammadu Buhari has assured that no government financial transactions will be done in secret.

No Government Financial Transaction Will Be Done In Secret –  Buhari

The president said this will be done through, the various reforms packages implemented by his administration.

He however, praised the efforts of the EFCC in the fight against corruption, saying that report by the Acting Chairman of the EFCC, Ibrahim Magu, is an attestation that the right policies.

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President Buhari said;

My resolve is to ensure that the reforms are deepened such that there will be no hiding place for corrupt persons and proceeds of corruption. My aim is to ensure that no government financial transaction is done in secret and all are subjected to public scrutiny.

The objective of this administration is to institute a level of transparency in governance through mainly information technology platforms. Just as advanced democracies and some developing countries, I am determined that within a short period, citizens would be able to follow core government operations on line.

Our government has reached an advanced stage in Fiscal Transparency. The Appropriation Bill is placed online within hours of its presentation in National Assembly. The Budget Office of the Federation has been engaging interest groups in the budget cycle. A pilot scheme of 10 MDAs has been test-running an online display of their budgets and expenditure movements.

Our commitment to online disclosure of Beneficial Owners of Companies generally within the framework of the Corporate Affairs Commission and in the extractive industries through Nigeria Extractive Industries Transparency Initiative (NEITI) is on course. I am aware the portals are ready but owners of companies are unwilling to comply with all disclosure requirements. May I use this opportunity to urge all well-meaning Nigerians to fully comply.

various national reforms and collaborative efforts with international organisations are designed to institutionally strengthen Anti-Corruption agencies in Nigeria.

We have been working within the frameworks of National Action Plan for Open Government Partnership (OGP), National Anti-Corruption Strategy which is an adaptation of United Nations Convention Against Corruption and the Global Forum for Asset Recovery (GFAR). Several of the reforms have been effective for several years with great impact on revenue and expenditure management. These include; the Government Integrated, Financial and Management Information System (GIFMIS), Integrated Payroll and Personnel Information System (IPPIS), Single Treasury Account, and Bank Verification Number (BVN). 

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Executive Orders, such as Preservation of Suspicious Assets Connected with Corruption (Executive Order 6), Nigerian Financial Intelligence Unit (NFIU) Act 2018; and Mutual Assistance in Criminal Matters Act 2018 have been operating for a few years and effectively limiting system opportunities for corrupt practices.

This administration, right from the inception, aligned with the Open Governance Partnership and Global Forum for Asset Recovery in addition to existing commitments to African Union and Economic Community of West African States’ Conventions Against Corruption, and the United Nations Convention Against Corruption (UNCAC). These frameworks focus significantly on systems reforms in order to prevent corruption. Nigeria’s active participation in these global anti-corruption platforms means that the country is subjecting itself to periodic review of its progress in implementing the articles of conventions thus the fight against corruption.

I have listened attentively to the report in the speech presented by the Chairman of EFCC. The report is an attestation that the right policies have been put in place to fight corruption and the fight is becoming much more effective. I make bold to say that Nigeria is winning the war against corruption. I congratulate the EFCC on its good work and I urge that the current level of success be sustained and accelerated

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