By: Abdullahi Umar
Lamido stated, who this while receiving the deputy governor of Kano State Alhaji Umar Ganduje, yesterday, advocated stringent punishment on the perpetrators after the stolen public assets has been seized to deter other people from emulating such acts.
Pointing out the negative impact on the economy, Lamido said that corruption creates fiscal distortions and increases income inequality.
“Countless studies around the world show how corruption can interrupt investment, restrict trade, reduce economic growth and distort the facts and figures associated with government expenditure,” he said.
“Other general consequences that are difficult to quantify include higher costs and declining quality of public sector infrastructure projects,” he added.
On his part, the deputy governor of Kano State, Dr. Abdullahi Umar Ganduje said the menace has become a barrier to the country’s socio-economic development.
Ganduje called on the CBN and the ministry of finance to find possible ways to restoring the stolen public funds by the late Gen. Sani Abacha to the federation account.
“The level Nigeria reached in terms of corruption led the country’s image is no longer internationally recognised,” he said.
“it is essential that government be seen to take corruption seriously to enhance its image at home and abroad. In doing so, we can remain competitive in the race for foreign capital, successfully target and spend the Treasury’s money and fulfill our mandate of a better life for all,” he advised.