ANTI-CORRUPTION NETWORK TO COLLABORATE WITH THE ECONOMIC AND FINANCIAL CRIMES COMMISSION

Group picture of members of the Rivers Anti-corruption network with The EFFC boss and their public relations office

Findings of investigations carried out on the Niger Delta Development Commission (NDDC) initiated by the legislative and executive arms of the federal government of Nigeria indicate a high rate of corruption evident in contract racketeering, payments for fictitious contracts, award and payment for ridiculous staff bonuses and project abandonment, to mention a few. Despite the huge sums of money released to the NDDC as an intervention agency since its inception, the Niger Delta communities continue to experience a steady decline in social and economic standards.

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N39.5 BILLION PROJECT DUPLICATION AMIDST DWINDLING REVENUE: TRANSPARENCY & ACCOUNTABILITY IN PUBLIC FINANCE IS KEY

Figure 1 Zainab Ahmed, Minister of Finance, Budget and National Planning

As the effect of covid-19 pandemic on global economy bites harder, Nigeria is not exempted, the economy hugely financed from sale of crude continues to face an unsustainable long-term fiscal decline based on the imbalance between paucity of revenue and large deficit spending. While this is the reality, both spending and revenue imbalance can get worse with unfettered corruption and poor fiscal policy decisions.

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