Corruption costs billions, denies Nigeria quality education and healthcare – Reps Speaker

Abbas made this statement during the International Anti-Corruption Day, held at the National Assembly Complex, Abuja, on December 9, 2024.

International Anti-Corruption Day has been observed annually on December 9 since the passage of the United Nations Convention Against Corruption on October 31, 2003, to raise public awareness for anti-corruption.

In his keynote address, Abbas raised concerns about the situation, stating that if not addressed, corruption will constitute a formidable obstacle to the nation’s collective progress.

Abbas, represented by the House Deputy Chief Whip, George Ozodinobi, urged lawmakers to use their powers to erradicate corruption in the interest of the Nigerian people.

“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.

“Through enacting laws, rigorous oversight of public institutions, and holding the executive accountable, parliaments ensure that governance is conducted with transparency and in the best interest of citizens.

“Moreover, as the custodian of the people’s trust, parliament serves as citizens’ voice demanding accountability, making our legislative functions central to combating corruption and restoring public confidence in governance.

“We have passed critical laws such as the Nigerian Financial Intelligence Unit Act, which strengthens our capacity to track illicit financial flows, and the Proceeds of Crime Act, which ensures effective recovery and management of assets acquired through corrupt means.

“Another landmark reform is the Companies and Allied Matters Act amendment, which enhances transparency in corporate governance, thereby curbing avenues for corruption in the private sector,” he noted.