FRC and NIQS Sign MoU to Combat Contract Abuses

The Fiscal Responsibility Commission (FRC) and the Nigerian Institute of Quantity Surveyors (NIQS) signed a Memorandum of Understanding (MoU) in Abuja to address abuses in contract awards and procurement irregularities within federal ministries and agencies (MDAs). Dr.

Aminu Moham Bashir, President of NIQS, emphasized the importance of professional cost intelligence in ensuring prudent and transparent public expenditure. The FRC, established under the Fiscal Responsibility Act of 2007, aims to promote macroeconomic stability and accountability in public finance.

The MoU, which follows a previous agreement signed on October 22, 2021, aims to deepen collaboration between the two institutions. Mr.

Charl Chukwuemeka Abana, FRC Chairman, acknowledged the cordial relationship with NIQS and highlighted the need for rigorous management of public resources. The partnership is expected to enhance the verification of capital project expenditures and ensure accurate reporting of MDAs' budgets.