FG to use relevant technologies to curb financial crime

FG to use relevant technologies to curb financial crime

Wednesday, August 23, 2017 4:53 pm

Dr. Ogbonnaya Onu: Minister of Science and Tech

Dr Ogbonnaya Onu, the Minister of Science and Technology, says the ministry will fabricate and deploy relevant technologies to assist in the fight against financial crime in the country.

Onu made this known in a statement issued by Mr Aminu Ganiyu, the Deputy Director of Communications and Public Relations in the ministry on Wednesday in Abuja.

The minister was when the Association of Forensic and Investigative Auditors in Nigeria paid him a working visit recently.

“The fight against fraud and financial graft has become imperative if Nigeria is to utilise its resources for the benefits of citizens,’’ he said.

He said that Nigeria’s fight against fraud was necessary so that its resources could be best used to provide quality education for the teeming youths.

“ Also to provide adequate healthcare, construct good and motor-able 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 and prosperous nation that can earn the respect of other nations,” he said.

Onu said that the ministry would be more than willing to fabricate the right tools to ease the association’s task, pointing out that the association’s area of interest was in line with the ministry’s mandate.

He said that the National Biotechnology Development Agency (NABDA) had the capacity to provide the necessary forensic sciences and technologies to assist the association in its war against financial crimes and crime investigations.

Onu said the ministry would 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.

He assured the association of his assistance in ensuring the smooth passage of a proposed bill on forensic and investigative audit by the association when it would be finally tabled before the National Assembly.

“If the bill scales through, it will be a boost to the present administration’s policy of transparency and accountability in governance, “ he said.

The President of the association, MrsVictoria Erape had earlier appealed to Onu to assist the association in the application of science and technology in the investigation of financial fraud and other related offences.

She 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.

According to her, due to the inadequacies of traditional auditing process and reporting, Nigeria has 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.

“The alarming rate of financial fraud and limitation of statutory audit were the stimulus for the birth of the association, “ she said.


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