BREAKING NEWS, Business
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The Economic and Financial Crimes Commission is to work with the Bureau of Public Enterprises to reduce financial crimes and ensure transparency in the privatisation transactions in the country
THE Bureau of Public Enterprises, BPE, and the Economic and Financial Crimes Commission, EFCC, have renewed their commitment to maintain the standards of integrity and transparency in the reforms and privatisation transactions of the National Council on Privatisation and the BPE.
Vincent Onome Akpotaire, acting director general of BPE, while noting the prevalence of financial crimes across the globe asserted the necessity for the relationship between both agencies to be strengthened and engender seamless transactions.
Making the assertion during a courtesy visit by the BPE to the EFCC on Tuesday, April 12, in the EFCC office, Abuja, Akpotaire appreciated the efforts of the EFCC in managing issues of financial crimes and pledged the support of the Bureau to the EFCC.
The director general affirmed the continuity of the seamless interface between the two agencies in the course of the Bureau’s transactions. Citing the power privatisation transaction as an example, he attributed the high standards of transparency maintained during the transaction to the collaboration with the anti-graft agency.
Akpotaire sought for the installation of a desk officer from the EFCC in BPE. He said that this initiative would ensure the EFCC’s oversight of BPE transactions from the inception stage to the final stage.
He recommended workshops and inter-agency training programmes between both parties. He said that this would ensure that both agencies are frequently updated with transaction processes.
Also significantly, Akpotaire stressed the relevance of a socio-economic impact analysis of the Bureau’s reforms on the lives of citizens prior to commencement of such exercise in the future. He explained that this analysis would pre-inform and educate all stakeholders on the impact of a proposed reform within a sector before the commencement of the actual transaction.
He added that the purpose of this analysis was to ensure that all parties; from the government to the investors and the populace are aware of their roles, commitments and benefits. According to him, this initiative would guarantee greater cooperation and credibility throughout the process and enhance the benefits of privatisation for the national economy.
Responding, Ibrahim Magu, acting chairman of the EFCC, reaffirmed the need to strengthen trust in the minds of both local and international communities regarding public office functions.
He expressed his appreciation for the cordial relationship existing between both parties and gave an assurance of continued partnership. He added that such partnership is beneficial to executing the EFCC’s mandate to curtail financial crimes and promote transparency in financial transactions.
He assured the Bureau of the willingness of the anti-graft agency to establish a desk in BPE and proposed inter-agency workshops and trainings and confirmed that the economic and social analysis as recommended by the Bureau would help anticipate potential problems and proffer solutions to nip them in the bud, thereby ensuring a more robust process.
Magu added that the Commission was dedicated to the development of the country on all fronts and inter-agency cooperation was a guarantee of success in the anti-corruption war, according to a statement issued by Alex Okoh, head, Public Communications, BPE.
— Apr 14, 2016 @ 12:00 GMT
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