Corruption undermining our revenue-generating capacity ― TCN boss

The Acting Managing Director/CEO of the Transmission Company of Nigeria (TCN), Engr Sule Abdulaziz, on Thursday, said corruption has continued to undermine the revenue-generating capacity of the agency.

He made the assertion while inaugurating the Anti-Corruption and Transparency Monitoring Unit (ACTU) in Abuja.

According to him, there was a need to check the menace, urging staff of the company to join the fight against corruption.

His words: “In any form, corruption increases the cost of doing business, undermines revenue-generating capacity, weakens fiscal regimes, discourages foreign investments, breeds distrust between government/organizations and their customers, as well as puts credibility at stake.

“Corruption equally increases the cost of governance, celebrates mediocrity, discourages creativity and creates an atmosphere of uncertainty and insecurity.

“No matter how we look at corruption, it is not ethical and we must all rise to the challenge of fighting it by saying no to any form of corrupt practice,” he stated.

In view of this, the MD assured members of the anti-corruption unit of management’s support, while also charging them to put in place the right processes to curb corruption in the company.

In his remark, Independent Corrupt Practices and Other Related Offenses Commission (ICPC) Chairman, Professor Bolaji Owasanoye explained the ACTU is an in-house mechanism set up by the Federal Government to prevent corruption within Ministries, Departments and Agencies (MDAs).

Owasanoye who spoke through a director in the ICPC, Demola Bakare said: “In view of the important role this organization plays in the power sector, it is expected that the staff of the organization would display a high level of professionalism and integrity in the discharge of their duties.

“The ACTU would assist management in promoting this principle if it is allowed to effectively discharge its duties.”

He, however, stressed that ACTU is not a parallel authority to management, noting that “rather they are to work closely with management to build a reputable organization.”

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