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FG moves to tackle financial crimes

The Federal Ministry of Science and Technology has said that it will fabricate and deploy relevant technologies to assist in tackling financial crime in the country.

Dr. Ogbonnaya Onu, minister of Science and Technology, disclosed this when the Association of Forensic and Investigative Auditors in Nigeria paid him a working visit in Abuja.

Onu said the National Biotechnology Development Agency (NABDA), an agency under the supervision of the ministry had the capacity to provide the necessary forensic sciences and technologies to assist the association in its fight against financial crimes and crime investigations.

The minister said that the area of interest of the association was in tandem with the mandate of the ministry, stressing that the ministry will be more than willing to fabricate the right tools to ease their tasks.

He underscored that the fight against fraud and financial graft had became imperative if Nigeria was to utilize its resources for the public good of its citizens, adding that 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, construct good and motorable road networks and houses as well as 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 said.

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

Onu further 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.

According to him, if the Bill scales through it would be a boost to the present administration’s policy of transparency and accountability in governance.

Earlier, the President of the Association of Forensic and Investigative Auditors in Nigeria, Dr. Victoria Enape 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 lamented 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,” Dr. Enape said.

She disclosed that the alarming rate of financial fraud and limitation of statutory audit were the stimulus for the birth of the association.

Enape appealed to the Minister to assist the association in the application of science and technology in the investigation of financial fraud and other related offences.

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