Connect with us

business

Millions of Nigerians in hardship because of corruption, says President Buhari

Published

on

President Muhammadu Buhari.

President Muhammadu Buhari on Tuesday said that corruption was the major factor responsible for the suffering of millions of Nigerians.

Buhari added that corruption at all levels was the biggest problem impeding Nigeria’s economic growth and development.

The president made the remark at the 49th Annual Accountant Conference organised by the Institute of Chartered Accountants of Nigeria (ICAN) in Abuja.

The theme of the conference was “Building Nigeria for Sustainable Growth and Development.’’

“I urge you now to always see corruption in its true colour as a gross violation of human right. Corruption is the major reason why millions of our people are in hardship, sick and helpless.

He said that it prevents good governance and encourage misappropriation of public funds, stiffens innovation, infrastructure development and investments.

Represented by Mr Boss Mustapha, the Secretary to the Government of the Federation (SGF), the president said: “Our fight against corruption is, in reality, a struggle for nation-building and the future.

“Corruption and impunity become widespread when accountability is disregarded.

“Disrespect for accountability also strives when people get away with all manner of questionable things and accountants are unable to check them.

“Corruption is the major reason why many children cannot go to school, why we have few equipment and doctors in our hospitals.

“Corruption diverts public resources thereby causing much suffering, deprivation and unnecessary death in the country.

“Therefore, if we do not slay corruption with the passion it deserves, we will not get the result that we need.’’

Buhari reiterated that the government was committed toward achieving structural economic change and a more diversified and inclusive economy.

He said that it was for this reason that he had signed many executive orders aimed at improving the business conditions in the country.

“We signed the Executive Order 7 of 2019 on Road Infrastructure Development and Rehabilitation Investment Tax Credit Scheme.

“This Executive Order aims to accelerate road infrastructure development for balanced economic growth in Nigeria by granting approvals to private sector entities to construct and rehabilitate eligible roads across the country.

“This is in exchange for tax credits which will be applied against their company income tax.

“The motivation for the scheme comes from the desire to take advantage of private-sector funding to road development in our country,’’ he said.

Also, the Acting Chairman, Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu called on Nigerians to join the fight against corruption.

Magu said the fight against corruption could not be won if it was left alone to the EFCC and other anti-graft agencies.

In his remark, the President of ICAN, Mr Nnamdi Okwuadigbo pledged the institute’s commitment to facilitating economic growth and development in the country.

“Now is the time to redeem our image in the committee of nations. We cannot afford to fail as the largest economy in Africa.

“As chartered accountants, we are at a vantage position to determine the effective use of public funds and we charge you to be front runners in the fight against corruption,” he said.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

business

How LASCOPA recovered N18.9m compensation for consumers in Lagos

Published

on

General Manager, LASCOPA, Mrs Kemi Olugbode.

The Lagos State Consumer Protection Agency (LASCOPA) says it has recovered N18,886,754 as refund and compensation for consumers in the state

The General Manager, LASCOPA, Mrs Kemi Olugbode, disclosed this in a statement in Lagos on Saturday.

She said that the money was recovered for consumers who sought the support of the agency to get redress from infringements on their rights by retailers and traders of various consumables.

Olugbode said that LASCOPA received complaints daily from aggrieved consumers seeking redress from various unfair trade practices in the state.

She noted that 87.1 percent of the total complaints received by the agency had been amicably resolved, while 9.4 percent were receiving attention.

”About 1.5 percent of the complaints received are awaiting court judgment and two percent were dropped for lack of merit,” he said.

Olugbode said that complaints were received from transportation, banking and finance, food and beverages, Insurance, e-commerce, telecommunications and property sectors.

Other areas are; electricity distribution companies, confectioneries, Manufacturing, automobiles, pharmaceuticals, chemical and agro-allied companies, among others.

She urged consumers to take advantage of the agency`s services to seek redress whenever there was an infringement on their rights, as it was free of charge.

Olugbode said that complaints should be forwarded online through the agency’s e-mail addresses, lascopa@lagosstate.gov.ng or lascopa@gmail.com.

She said that complainants could also visit LASCOPA’s office and all complaints should be accompanied with relevant documents attached.

Continue Reading

business

Jubilations as Access Bank opens new branch in Osun

Published

on

There was profound jubilation among the people of Ipetu-Ijesha, in Oriade Local Government of Osun State, as Access Bank opened its new branch in the sleepy community.

Speaking at the event, which was graced by many dignitaries across the country, the Group Managing Director/CEO of the Bank, Dr Herbert Wigwe reiterated the commitment of the Bank to the welfare of many inhabitants of the town through inclusive banking system.

He promised to positively engage the people of the community in terms of provision of credit facilities for small scale businesses as well as employment for the youths.

According to him, such banking experience would accelerate commercial activities as well as human development, with inherent corporate social responsibility of immense value.

“The coming of this Bank to Ipetu-Ijesha is a testimony of rapid commercial growth in the town. The bank will also assist to promote and encourage the development of indigenes in all ramifications.

“We are committed to improving your standard of living economically and socially and we will do everything possible within our means to assist the community in their various entrepreneurial endeavours “, Wigwe said.

The traditional ruler of the town, Oba Adeleke Agunbiade, Ajalaye of Ipetu-Ijesha expressed excitement over the development, saying it is a new dawn of economic advancement in the community, as he eulogised the Bank for considering his domain worthy of such developmental project.

He therefore implored his subjects to reciprocate the gesture through optimal patronage and concerted efforts towards protecting the Bank and its staff jealously.

“This is indeed a dawn of a new era in our town and a move towards economic emancipation and liberation. It is a signal of more developmental projects in our domain.

“I want to beg you to reciprocate this by opening accounts with Access Bank, this is the only Bank that guarantees safety of your money at any time.

“It should be noted that anybody who refuses to Bank with Access is an enemy of the king and by extension an enemy of Ipetu-Ijesha”.

Continue Reading

business

12 filling stations sealed off in Sokoto, Kebbi

Published

on

Filling Station

The Department of Petroleum Resources (DPR) says it has sealed 12 filling stations in Sokoto and Kebbi states for under dispensing and operating without valid licence.

Mr Muhammad Makera, the Zonal Operations Controller of DPR in charge of Sokoto and Kebbi states, made the disclosure to the News Agency of Nigeria (NAN) on Saturday in Sokoto .

Makera said the erring stations were sealed during unscheduled inspection by the department’s officials between Tuesday, Sept. 17 and Thursday, Sept. 19

He said that five filling stations were sealed for under dispensing of petroleum products while the remaining seven were sanctioned for operating without valid licence and non-adherence to required safety precautions.

According to him, the DPR officials visited no fewer than 99 filling stations in Sokoto and Kebbi staes within the period.

Makera expressed dismay that most of the stations’ managers feigned ignorance of the regulations of the Department.

 

He warned petroleum marketers to desist from such sharp practices, saying severe sanctions awaited offenders.

According to him, fuel stations ought to update their operational licences and regularize their operations promptly to avoid clampdown.

He called on consumers to report any suspicious or sharp practice noticed in any fuel station to the department for necessary action.

Makera said that current trend of short-changing customers by filling stations was unacceptable.

According to him, the department’s surveillance team is working to ensure availability of petrol at regulated price of N145 per litre.

He cautioned marketers against flouting government regulations and customers against panic buying.

Continue Reading

Latest Edition of Prestige Intl. Magazine

Ad

Ad

Trending

Share