The Independent Corrupt Practices and other Related Offences Commission (ICPC) raised the alarm on Thursday, September 22, in Abuja about the diversion of public funds.
ICPC Chairman, Prof. Bolaji Owasannoye, raised the alarm at a two-day capacity-building workshop for members of the House of Representatives Committee on Anti-Corruption.
He frowned at the diversion of public funds, both in revenue receipts and expenditure, while condemning illicit financial flow, misapplication of funds, and budget padding.
The ICPC Chairman said it was time corruption was confronted headlong, adding that Nigerians were yet to recognise the death knell that corruption meant.
He warned that if citizens did not deal with the ethical issues of corruption, it would further impact negatively on the country.
Owasanoye noted that Nigeria was never in short supply of anti-corruption legislation but in short supply of integrity.
He noted also that this had been worsened by high-level hypocrisy.
According to him, the CBN, the Bureau of Public Procurement, and the Federal Competition and Consumer Protection Commission, are all anti-corruption gatekeepers.
He stated that most regulatory agencies also played anti-corruption roles.
Owasanoye observed that corruption accentuated political patronage and encouraged sabotage of governance, stressing that funds appropriated on paper, were never used for the purpose for which they were meant.
In his remarks, Rep. Shehu Garba, Chairman of the House Committee on Anti-Corruption, noted that the challenge and the fight against corruption had remained a topical issue.
He said that the ills of corruption had been well documented, adding that Nigerians did not need to be reminded of the consequences.
Garba added that corruption denied citizens a promising future and development, adding that it was heart-warming when the President Muhammadu Buhari-led administration made the fight against corruption one of its tasks.
He said that the fight against corruption remained multi-dimensional; involving all institutions, adding that there would be no success without collaboration.
The lawmaker added that information sharing and capacity-building workshops were crucial in the fight against corruption.