Acting President Yemi Osinbajo.

By Oladipupo Mojeed

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Acting President Yemi Osinbajo on Monday vowed that public resources that were looted in the past few years would be accounted for by those involved.

Osinbajo stated this in a nationwide broadcast to mark the 2017 Democracy Day.

“In the fight against corruption, we have focused on bringing persons accused of corruption to justice.

“We believe that the looting of public resources that took place in the past few years has to be accounted for.

“Funds appropriated to build roads, railway lines, and power plants, and to equip the military, that had been stolen or diverted into private pockets, must be retrieved and the culprits brought to justice.

Slow process

The acting president also blamed the slow process of implementation of projects on the administration of justice.

“Many have said that the process is slow, and that is true. Corruption has fought back with tremendous resources and our system of administration of justice has been quite slow.

“But the good news for justice is that our law does not recognize a time bar for the prosecution of corruption and other crimes, and we will not relent in our efforts to apprehend and bring corruption suspects to justice,” Osinbajo said.

According to him, the government is re-equipping the prosecution teams, and that part of the expected judicial reforms is to dedicate some specific courts to the trial of corruption cases.

The acting president disclosed that the All Progressives Congress-led federal government is also institutionalising safeguards and deterrents in the process.

“We have expanded the coverage of the Treasury Single Account (TSA).

“We have introduced more efficient accounting and budgeting systems across the Federal Government.

“We have also launched an extremely successful Whistleblower Policy,” he stated.

Leakages

He pointed out that the Efficiency Unit of the Federal Ministry of Finance has succeeded in plugging leakages amounting to billions of naira, over the last two years and the federal government has also ended expensive and much-abused fertiliser and petrol subsidy regimes.

“We have taken very seriously our promise to save and invest for the future, even against the backdrop of our revenue challenges.

“We have in the last two years added 500 million dollars to our Sovereign Wealth Fund and 87 million dollars to the Excess Crude Account.

“This is the very opposite of the situation before now, when rising oil prices failed to translate to rising levels of savings and investment, ” the acting president said.