A renowned economist, Professor Uche Uwaleke, says the worsening economic situation in Nigeria and the attendant insecurity are due to corrupt practices and impunity in the public sector.
Professor Uwaleke, who is also the President of the Association of Capital Market Academics of Nigeria, suggested the strengthening of the office of the auditor general to enable it to sanction MDAs that continue to violate financial rules and procedures.
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Also reacting to plans by the Nigerian government to reduce the cost of governance by slashing salaries of civil servants and merger of MDAs, the financial expert said there is no better time than now but such must be driven by a strong political will.
He challenged President Muhammadu Buhari’s administration to renew its commitment and intensify efforts to bring the nation out of the current insecurity and comatose economy that have left millions of Nigerians in abject poverty.
(Editor: Abaje Usekwe)
