Public Finance Expert Advocates Reforms For Effective Governance In Key MDAs

Tosin Kolade
Jan, Sat, 2024

General News

Public finance expert advocates reforms for effective governance in key MDAs

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By Folasade Akpan

Mr Tagbo Agbazue, a seasoned expert in public finance management and development, has called for comprehensive reforms to strategically position Ministries, Departments, and Agencies (MDAs) within the government for enhanced service delivery.

Agbazue’s call for reform comes in the wake of the alleged misappropriation of N585 million by Dr Betta Edu from the Ministry of Humanitarian Affairs and Poverty Alleviation, an incident that he strongly condemns.

Highlighting the urgency for a critical review of governance structures, Agbazue emphasised the vital need to reinforce transparency and accountability in government institutions.

“The ministry, conceived as a lifeline for the vulnerable, has turned into a breeding ground for corruption and gross mismanagement, where funds intended for the most disadvantaged citizens are diverted, eroding public trust in government institutions.

“Such a ministry with its agencies is very important to the long-term growth and development of Nigeria.

“The humanitarian ministry should not have issues of corruption associated with it because this is a ministry that is tasked with looking after the poor of the poorest in Nigeria.

“And it is absolutely important that funds that are earmarked for welfare purposes actually reach the intended beneficiaries,’’ he said.

Expressing concern over the diversion of funds intended for vulnerable citizens, Agbazue stressed the importance of safeguarding ministries, like the Humanitarian Affairs Ministry, which play a crucial role in the nation’s long-term growth and development.

He underscored that areas such as education, healthcare, infrastructure, and social welfare are essential pillars that should remain untainted by corruption.

Commending President Bola Tinubu’s commitment to fighting corruption and the suspension of Edu pending an investigation, Agbazue called for proactive systemic reforms and stringent enforcement of existing regulations.

He questioned the ease with which funds were allegedly diverted, highlighting the need for proper delegation of authority frameworks and increased efficiency, accountability, and transparency in fund allocation.

Agbazue advocated for a collective introspection into systemic failures of government institutions and urged governments at all levels to strengthen governance institutions.

Emphasising the importance of focusing on building strong institutions rather than solely scrutinising individuals, he urged a holistic approach to combat corruption.

Additionally, Agbazue called for extended efforts by the Economic and Financial Crimes Commission (EFCC) and banking regulators to ensure justice is served, acting as a deterrent to potential wrongdoers both within and outside government ministries.

He emphasised the necessity for the banking sector to vigorously enforce anti-money laundering regimes, including know-your-customer and customer due diligence frameworks. (NAN) (www.nannews.ng)

Edited by Abiemwense Moru/Ali Baba-Inuwa

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