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From Ndubuisi Orji, Abuja
The Speaker, Tajudeen Abbas, has said the House of Representatives is working towards blocking legal loopholes that enable corruption in the country.
He stated this in a keynote address at an event organised by the House Committee on Anti-Corruption to mark the International Anti-Corruption Day in Abuja, yesterday.
While noting that corruption has reaching implications for every aspect of the country, especially as it constitutes an obstacle to national development, he said leaders and policy markers would continue to confront it with determination.
“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.
“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.”
Abbas stated that the 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, Companies and Allied Matters Act (CAMA) amendment and 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.
“The current House of Representatives has prioritised anti-corruption in its legislative agenda, reflecting our unwavering commitment to addressing this issue comprehensively. We are reviewing existing anti-corruption laws to strengthen enforcement mechanisms and close any legal loopholes enabling corrupt practices.
“For example, the House is working to amend the Independent Corrupt Practices and Other Related Offences Commission (ICPC) Act to enhance its capacity to effectively investigate and prosecute corruption cases.
“Additionally, we are advancing the Whistleblower Protection Bill to encourage individuals to expose corrupt practices without fear of reprisal. Our increased oversight of government institutions complements these efforts to ensure public resources are managed with the utmost integrity and accountability, “ Abbas stated.
