“Since 2015, sales of discounted foreign exchange to privileged recipients have become more opaque than ever before.”
CDD while outlining achievements and shortcomings of President’s Buhari’s Anti-Corruption noted that it was regrettable that President Buhari failed to capitalise on the so -called ‘Buhari Effect’ since he was voted into office in 2015 to enact a wider and more durable range of political and institutional reforms designed to achieve lasting change in the polity.
It noted: “Another shortcoming identified by the Five Year Assessment is the failure of the government to achieve the required reforms in the petroleum sector. On the vexed issue of opaque use of security votes, the administration gets the whip for the use of corruption-prone slush funds. Still on the issue of security sector corruption, the assessment knocks the President for failure to curb defence and security corruption. The assessment asserts that expenditures in the defence and security sector continue to escape public and legislative scrutiny, and mostly occur under emergency procurement processes that lack basic anti-corruption safeguards.
The assessment equally notes that the President pushed through a few key financial management reforms, which have been critical in preventing opportunities for corruption to thrive. One of such reforms is the mandatory use of the Treasury Single Account, which has ended the lax and opaque system wherein government monies sat in disparate accounts, which made proper oversight impossible.TSA as signs of improved financial centralisation.
The assessment notes that in the period under review, the President regularly directed anti-corruption agencies to recover stolen or corruptly acquired assets. The assessment therefore commended the administration for the increasing use of “innovative legal tools to seize suspected proceeds of corruption from former officials who would be difficult and time-consuming to convict. As a result of this strategic shift, more stolen assets are being recovered than ever before.
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