We will fabricate, deploy relevant technologies to fight financial crime ―FG

Minister of Science and Technology, Dr Ogbonnaya Onu

THE Federal Government will fabricate and deploy relevant technologies to assist in the fight against financial crime in Nigeria, Minister of Science and Technology, Dr Ogbonnaya Onu has disclosed.

He disclosed this while playing host to the Association of Forensic and Investigative Auditors in Nigeria who was in his office for courtesy visit.

The minister explained that the National Biotechnology Development Agency (NABDA), an agency under his purview had the capacity to provide the necessary forensic sciences and technologies to assist the association in its war against financial crime and crime investigations.

Dr Onu stressed that the area of interest of the association was in tandem with the mandate of the ministry, assuring that the ministry would be more than willing to fabricate the right tools to ease their tasks.

“The fight against fraud and financial graft had become imperative if Nigeria is to utilise its resources for the public good of its citizens. Nigeria must fight fraud so that the resources of its treasury could be best used to provide quality education for the teeming youths, provide adequate healthcare, as well as construct good road networks and houses to ensure the security of the country.

“We want to be a truly great nation, a nation that is great, strong, peaceful, prosperous nation that can earn the respect of other nations”, he stressed.

He therefore promised to further support the association in the area of training and skills acquisition in relevant technologies to enhance financial crime investigation, investigative skills and fraud investigation.

The minister then assured the association of his support and assistance in ensuring the smooth passage of a proposed Bill on forensic and investigative audit by the association when it is finally tabled before the National Assembly.

“If the Bill scales through, it would be a boost to the present administration’s policy of transparency and accountability in governance”, he added.

Earlier, the President of the association, Dr (Mrs) Erape Victoria, said the association was formed to provide forensic and superior investigative skills, techniques and mechanisms in audit of financial records and fraud investigation in Nigeria.

She bemoaned that due to the inadequacies of traditional auditing process and reporting, Nigeria had lost huge sums in the past few years to fraud and financial crime.

“The association is well-placed to fight the future ‘cyber war’ and corporate crime that can only be fought by an army of forensic and investigative auditors”, She stated.

The president added that the alarming rate of financial fraud, and limitation of statutory audit were the stimulus for the birth of the association.