The Federal Government has recovered the sum of N34.346 billion and US$1.62 million between 2019 and 2021, and also saved the sum of N261 billion for the same period through the Independent Corrupt Practices Commission (ICPC) Constituency and Executive Projects Tracking Initiative it launched in 2019.
This was disclosed by Minister of Information, Lai Mohammed during a press conference highlighting the Federal Government’s progress in its fight against corruption.
The was done between 2019 and 2021, as the ICPC traced 2,000 projects worth over N300 billion.
What the minister is saying about asset recovery
The Minister praised the ICPC for playing a pivotal role in bringing about structural changes in the operations of the government, especially regarding improvements in MDAs budget utilization, better value for money, improved project completion, service delivery and higher level of anti-corruption awareness
“Recall, gentlemen, that the Commission established the Constituency and Executive Projects Tracking Initiative in 2019 to ensure value for money for the Nigerian people and full execution of projects.
“Between 2019 and 2021, ICPC traced 2,000 projects worth over N300 billion. During the same period, 326 contractors of abandoned projects across the six geo-political zones were forced by the Commission to return to site to complete projects worth N32.183 billion.
“Also, the ICPC’s Assets Tracing, Recovery and Management (ATRM) project led to the recovery of cash totalling N34.346 billion and US$1.62 million between 2019 and 2021,” Mohammed said.
He disclosed the ICPC’s System Study and Review of personnel and capital votes of MDAs resulted in savings of N261 billion to the government between 2019 and 2021, securing 66 convictions from the 243 cases it filed in court during the same three-year period.
Recall Nairametrics reported last year that BudgIT Nigeria, a civic-tech NGO has disclosed that there are numerous loopholes in the 2021 budget, citing 316 duplicated capital projects totalling N39.5 billion, a 14% increase to the security sector allocation with no audit done in 5 years and many others.
