Ministry to deploy relevant technologies in the fight against financial crimes

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Photo by Javier Quesada on Unsplash

 The Federal Ministry of Science and Technology will fabricate and deploy relevant technologies to assist in the fight against financial crime in the country.

Dr. Ogbonnaya Onu, minister of Science and Technology, disclosed this when the Association of Forensic and Investigative Auditors in Nigeria paid him a working visit in his office.

Dr. Onu said the National Biotechnology Development Agency (NABDA) an agency under the supervision of the ministry had the capacity to provide the necessary forensic sciences and technologies to assist the association in its war against financial crimes and crime investigations.
He stated that the area of interest of the association was in tandem with the mandate of the ministry, adding that the ministry will be more than willing to fabricate the right tools to ease their tasks.

According to Dr. Onu, the fight against fraud and financial graft had become imperative if Nigeria was to utilize its resources for the public good of its citizens, adding that Nigeria must fight fraud so that the resources of its treasury could be best used to provide quality education for the teeming youths, provide adequate healthcare, construct good and motorable road networks and houses as well as to ensure the security of the country.

He further added that “we want to be a truly great nation, a nation that is great, strong, peaceful, prosperous nation that can earn the respect of other nations”

Dr. Onu promised to 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.

The minister assured the association of his support and assistance in ensuring the smooth passage of a proposed Bill on forensic and investigative audit by the association when it is finally tabled before the National Assembly. If the Bill scales through, he said, it would be a boost to the present administration’s policy of transparency and accountability in governance.

Earlier, the President of the Association of Forensic and Investigative Auditors in Nigeria 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.

She bemoaned that due to the inadequacies of traditional auditing process and reporting, Nigeria had lost huge sums in the past few years to fraud and financial crime.

Dr. Victoria said “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”.

She added that the alarming rate of financial fraud, and limitation of statutory audit were the stimulus for the birth of the association. She finally appealed to the Honorable Minister to assist the association in the application of science and technology in the investigation of financial fraud and other related offences.

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