The acting chairman of the Economic and Financial Crimes Commission, (EFCC), Ibrahim Magu has said that there is a link between corruption and the current economic recession.
Magu, who was speaking on Thursday, when he visited the Naval Headquarters in Abuja on a courtesy call, said the recession prevalent in Nigeria today, is a fall out of the corrupt tendencies of leaders.
He said except Nigerians resolve collectively to detest corruption in all forms, there will be no future for the youth.
He also said that it was disturbing that Federal, State and Local Government allocations were persistently being misappropriated.
“If 50 percent of the allocations at the three tiers of governments are judiciously put to use, we would not be where we are in terms of underdevelopment and infrastructural decay,” he explained.
The Chief of Naval Staff agreed with the EFCC chairman when he said “corruption fuels insecurity and responsible for lack of development. We just cannot afford to continue like that”.
