FRC, NIQS Sign MoU to Check Abuses in MDAs’ Contract Awards, Procurement Irregularities, Others

Nigeria's Fiscal Responsibility Commission (FRC) and the Nigerian Institute of Quantity Surveyors (NIQS) have formalized a partnership to combat corruption in public procurement. The two bodies signed a Memorandum of Understanding (MoU) aimed at curbing abuses in contract awards and procurement irregularities within government ministries, departments, and agencies (MDAs).

Under the agreement, the NIQS will lend its expertise in forensic cost auditing. This will involve scrutinizing the financial aspects of contracts and procurement processes to ensure adherence to regulations and prevent financial malfeasance.

The collaboration seeks to enhance transparency and accountability in the management of public funds. By leveraging the specialized skills of quantity surveyors, the FRC aims to strengthen oversight and deter corrupt practices that have plagued public expenditure.