- Vice president Yemi Osinbajo says corruption is the leading cause of recession in Nigeria
- He states that other factors that caused recession in Nigeria included intractable budgetary delays and long procurement process
- EFCC indicts three governors for diverting the London-Paris Club refund
Vice president Yemi Osinbajo has said unbridled corruption and waste are some of the factors that caused recession in Nigeria.
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Osinbajo statement was contained in his speech delivered at the opening of the House of Representatives summit on economic recovery on Monday, November 6.
In the speech tilled: Nigeria’s exit from recession and how to stay on growth path, the vice president said corruption was the leading factor of the recession in the country.
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Osinbajo also stated that other factors that caused the recession included intractable budgetary delays and long procurement process which he said hindered the flow of money into the economy.
See tweets from Osinbajo’s speech below:
Meanwhile, three governors have reportedly been indicted for diverting the London-Paris Club refund, according to a source of the Economic and Financial Crimes Commission (EFCC).
This is in addition to 2 governors who had earlier been indicted for diverting the refund, The Nation reports.
A source of the EFCC also revealed that an account linked to the Nigerian Governors Forum (NGF) with suspicious transaction related to the Paris Club refund have been discovered.
Acting President Yemi Osinbajo delivers a speech on the Biafra war on NAIJ.com TV
Source: Naija.ng