FRC and NIQS Sign MoU to Combat Procurement Irregularities
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 MoU aims to enhance collaboration between the two organizations, building on a previous agreement signed on October 22, 2021. This partnership will facilitate forensic cost audits to detect inflated contract values and misrepresentations in procurement, particularly during the Medium Term Expenditure Framework (MTEF) review stage when fiscal risks are highest.
Mr. Charl Chukwuemeka Abana, Chairman of the FRC, acknowledged the leadership of NIQS and the significance of their relationship in promoting accountability and prudent management of public resources.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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