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The chairman, Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has promised to support the Nigeria Institute of Quantity Surveyors (NIQS) in tackling corruption and quackery in the industry.
Commenting to an earlier speech made by the President of Nigeria Institute of Quantity Surveyors (NIQS) Mr. Kene Nzekwe during a courtesy call, Mr. Olukoyede said the Commission was ready to listen to stakeholders in the fight against corruption.
He, however, urged the assoication to ensure that quantity surveyors are purged of corruption so that they can also come to the table with clean hands. He called on the NIQS to ensure that surveyors pay attention to ethical professional practices adding that the institute can report erring members to the commission.
“We are going to be involved more in prevention because it is better to save money for the government than to spend money on prosecution. We are also going to drive EFCC to a place where when you see an EFCC personnel, you will see a touch of professionalism,” Olukoyede said.
Earlier in his speech, Mr. Nzekwe assured Olukoyedethat the institute will offer its full support and cooperation to work together to confront the challenges that lie ahead. He said: “NIQS is an institution deeply committed to the advancement of ethical practices in total cost management and procurement within the construction and infrastructure sectors. We gather here amidst a crucial juncture in Nigeria’s journey towards sustainable development, where the allocation of significant budgetary resources towards infrastructure projects offers a beacon of hope for progress and prosperity. Yet, this optimism is marred by the pervasive spectre of corruption that continues to plague our procurement processes, hindering the timely and effective delivery of essential projects to our citizens.
“With the 2024 budget allocating N1.33 trillion towards infrastructure spending, there exists a palpable sense of optimism regarding the transformative potential of these investments. Yet, this optimism is tempered by the harsh reality that corruption continues to erode the efficacy and impact of our procurement processes, depriving our citizens of the basic services they so rightfully deserve.
“As custodians of accountability and transparency, we must confront the stark reality of corruption within our midst. The construction and infrastructure sector in particular, stands as a battleground where the forces of integrity clash with the scourge of malfeasance. The findings of Transparency International and the Construction Sector Transparency Initiative (CoST) serve as a sobering reminder of the pervasive nature of corruption within our midst. With construction ranking first across all types of bribery, the stakes could not be higher. CoST’s estimation that up to US$5 trillion could be lost annually to corruption in construction by 2030, underscores the gravity of the situation, revealing a landscape rife with contract inflation, embezzlement and the abandonment of vital projects.”
“Closer to home, the litany of allegations surrounding contract inflation and embezzlement of funds meant for infrastructure projects paints a damning portrait of systemic corruption. From inflated project costs to substandard workmanship, the misallocation of public funds represents a betrayal of the trust placed in our government by the Nigerian people. The spectre of abandoned infrastructure projects further underscores the human toll of corruption, leaving communities languishing in a state of neglect and despair.
“Moreover, recent probes into institutions such as the Niger Delta Development Commission (NDDC) by the 9th Assembly offered a chilling glimpse into the depths of financial irregularities and contract fraud that pervade our procurement landscape. With reports of financial irregularities and contract fraud running rampant, it is abundantly clear that the status quo is untenable. The Nigerian people demand and deserve swift and decisive action to root out corruption and restore integrity to our public institutions.
“In this pivotal moment, we commend the unwavering commitment of the Economic and Financial Crimes Commission to combat corruption at its roots. Your pledge to deploy strategies aimed at disincentivizing corrupt practices among public officers is a testament to your dedication to the principles of accountability and good governance. It is in this spirit of partnership and collective action that we, the Nigerian Institute of Quantity Surveyors, offer our hand in solidarity, “he concluded.
