ICA advises government on looted funds

ICA advises government on looted funds

The Institute of Credit Administrators has called on the Federal Government to encourage looters of public funds to invest the funds in the critical sectors of the economy as deemed by the government.

The institute made its position known in a report signed by its Registrar/Chief Executive Officer, Prof. Chris Onalo.

It described the move as a new perspective aimed at weakening corruption, and a soft landing programme for the indicted politicians/public office holders.

The report read in part, “Government can reach a deal with looters. Looters could be made to invest the looted funds in sectors that government will advise for the purpose of employment generation and expanded national wealth creation.”

ICA said the government could use the principle of debt forgiveness or debt rehabilitation in credit management to forge pleas bargain in legal prosecution against the indicted looters.

It added, “Government could shield the identity of the looters, and completely refrain from doing or saying anything that may be seen as damaging to the looters.

“Going forward, government could work closely with the shielded looters to work out a new national policy on the elimination of corruption in Nigeria.”

The adoption of this model, the institute noted, would not only make available enough money to revive the economy through increased activities, but would afford the government the opportunity to institute new culture of governance, thus driving the ‘change mantra’ project to a successful direction.

It added, “With this, inflation will drop sharply. The approach will be regarded globally as Nigeria’s inclusive model to destroying corruption.”

Source:© Copyright Punch Online