A professor of Management and Accounting and the Vice-Chancellor of Lead City University has identified a lack of sustainable development and political stability as reasons corruption and insecurity are thriving in Nigeria.
He made the comments while delivering a lecture entitled: “Sustainable Security, Governance and National Development; Implication for Fraud Examiners” at the 2nd annual Anti- Fraud National Conference organised by the Association of Certified Fraud Examiners, at the Equity Resort in Ijebu Ode.
Adeyemo said: “Creating smart policies will help to deal with immediate threats and global challenges, which will prevent crises rather than merely reacting to them.”
He also noted that as long as corruption and insecurity thrive, there can be neither sustainable development nor political stability.”
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“When these negative features occur together, they create an environment that is hostile to sustainable security, governance, and national development. In such circumstances, the authority of government over their citizenry tends to be progressively eroded and undetermined,” he said.
He observed that the absence of transparency and accountability had led to a badly governed society with a number of negative effects, adding that corruption and insecurity contribute to the present underdevelopment because the funds that would have been utilised for development purposes are privatised.
The vice-chancellor asked the Association of Certified Fraud Examiners (ACFEs), being the premier provider of anti-fraud training and education to do all in its power to reduce business fraud and inspire public confidence.
He also appealed to the government and fraud examiners to ensure that all relevant agencies and anti-corruption policies are strengthened and for the legislature and judiciary to wake up to their responsibilities.
Vice president, ACFE, Lagos Chapter, Don Ogbonnaya in his address noted that while significant advances had been made in fraud detection technologies, fraud losses had continued to pose a significant problem to many industries, including telecommunications, banking and finance, insurance, health care and many others.
Also speaking at the event, Dr Titilayo Fowokan, vice president II, ACFE, Lagos, stated that the purpose of the gathering was to rid Nigeria of fraudulent practices.
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