Follow Us on Google
From Ndubuisi Orji, Abuja
The Speaker of the House of Representatives, Tajudeen Abbas, has said that the House is working towards blocking legal loopholes that enable corruption in the country.
Abbas stated this in a keynote address at an event organised by the House Committee on Anti-Corruption to mark International Anti-Corruption Day on Monday in Abuja.
The Speaker, noting that corruption has far-reaching implications for every aspect of the country, especially as it constitutes an obstacle to national development, said leaders and policymakers continue to confront it with determination.
According to him, “Corruption undermines Nigeria’s development in profound ways. It drains resources that could be channelled towards building infrastructure, creating jobs, improving education, and providing healthcare. Billions of dollars are lost annually to corrupt practices, depriving communities of basic services and perpetuating poverty and inequality.
Other News
“It erodes the social fabric by creating inequities that leave the most vulnerable further marginalised. Equally troubling is how corruption destroys trust in public institutions, leading to widespread disillusionment and a weakened social contract between the government and the governed.”
Nevertheless, Abbas stated that the Nigerian National Assembly has made significant progress in tackling corruption through legislative initiatives aimed at institutional reform and accountability.
The Speaker stated that so far, the parliament has passed critical laws like the Nigerian Financial Intelligence Unit (NFIU) Act, the Companies and Allied Matters Act (CAMA) amendment, as well as the Proceeds of Crime Act.
He explained that the legislations were aimed at strengthening the country’s capacity to track illicit financial flows, ensure effective recovery and management of assets acquired through corrupt means, and enhance transparency in corporate governance.
