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Home»ACCOUNTABILITY/CORRUPTION»ICPC saves FG over N10bn in 2024
ACCOUNTABILITY/CORRUPTION

ICPC saves FG over N10bn in 2024

Tina GeorgeBy Tina GeorgeDecember 11, 2024Updated:December 11, 2024No Comments3 Mins Read
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The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr Musa Adamu Aliyu has disclosed that the Commission has saved the Federal Government the sum of N10 billion this year.

Speaking at the Close-Out/Award Ceremony of the Open Contract Reporting Project (OCRP), Dr Musa Adamu Aliyu declared procurement fraud as the critical first front in Nigeria’s fight against systemic corruption.

He said that between 2019 and 2023, the ICPC has recovered over ₦50 billion from contractors who abandoned project sites adding that in 2024 alone, asset recoveries have already reached ₦116 million.

Aliyu outlined the devastating impact of procurement fraud, highlighting how it diverts public resources, deters foreign investment, and undermines national development.

He revealed that a significant proportion of corruption cases in Nigeria are directly linked to procurement irregularities, including inflated contract sums, kickbacks, and deliberately manipulated tender processes.

He highlighted some key strategies employed by the ICPC, which include the Constituency and Executive Projects Tracking Initiative (CEPTI), systematic review of procurement processes in government agencies and strategic partnerships with civil society and media organizations.

The ICPC Boss emphasized that procurement fraud goes beyond simple theft, describing it as a complex problem involving pressure, opportunity, and rationalization. “When greed overcomes fear, fraud prevails,” he stated.

He then celebrated the Open Contract Reporting Project’s role in exposing procurement irregularities, promoting transparency, and empowering citizens to demand accountability.

Calling for a collective approach, Aliyu urged stakeholders to strengthen oversight mechanisms, empower citizen monitoring, enhance cross-sector collaboration, and promote ethical leadership.

The Executive Director of the ICIR, Dayo Aiyetan, said that the Open Contract Reporting Project (OCRP) began seven years ago to hold government and organizations accountable, especially regarding procurement.

He said that the project had trained 300 journalists across Nigeria on open contract reporting and had recorded over 500 quality investigative reports from journalists across the country.

“Seven years after, we have wonderful stories. We have gotten several journalists interested in Investigative journalism. I can say that most journalists would not have done critical investigative reporting if not for this project. It has been impactful.”

He appreciated the MacArthur Foundation for their support in supporting the project and ensuring that journalists get the report they need to carry out critical investigative reporting while also applauding the anti-corruption agencies and CSOs for their collaboration on the project.

During the close-out ceremony, six journalists were awarded for their exemplary reports. They include Archibong Jeremiah Oganga from The Investigator, Hafsat Bello Mohammed from Premier Radio, Ekemini Simon from The Mail, Gideon Arinze from Ripples, Justina Asishana from The Nation and Hadiza Musa from Primetime News.

Anti-corruption fellowship award ICIR ICPC Procurement fraud
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Despite tight monetary policy, Nigeria’s broad money supply climbs to N129.21trn in May

June 23, 2026

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June 23, 2026

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