Why Nigeria will continue to lose billions of dollars – CISLAC

The Civil Society Legislative Advocacy Centre says unless all government contracts, especially those concerning the oil sector, are made public, Nigeria will continue to lose billions of dollars monthly due to corruption, incompetency and international scams.

CISLAC Executive Director Auwal Rafsanjani told reporters in Abuja that “corruption thrives in secrecy.”

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He said the ongoing controversial multibillion dollars case involving Nigeria and the P&D occurred only because Nigerian public contracts, especially those in the resource sector, were shrouded in secrecy.

He said: “While the P&ID scandal is only one case, it shows how Nigerians lose billions of dollars abroad due to the lack of legal and policy framework preventing corruption in public procurement, shocking lack of oversight of public funds and the general lack of law enforcement.

“I commend the announcement made by the Ministry of Justice last week about the establishment of the database on recovered assets and the central criminal justice information system,” Rafsanjani said.