By Funmi Ogundare
The board members and management staff of the Lagos State Universal Basic Education Board (LSUBEB), recently converged on Amber Residence, Ikeja, for a three-day training themed, ‘Data Driven Allocation of Education Resources and Finance’, when they were empowered on the proper management of allocated funds, money laundering, its impact on their efficiency and their role against the scourge.
In his remarks, an expert on money laundering and Managing Director Simialpha Consulting Limited, Mr. Kunle Ajiboye who emphasised on education funding said the training workshop should drive participants towards protecting their legacy and doing things right rather committing an act of infraction.
According to him, “There are operational issues around funding . A lot of people do what is operationally correct, and others do what is expedient. However, does that motivation makes the action legal? Are some of our conducts appear okay and at the same time illegal? After this training you must be able to decipher or know how to take correct actions , you must be able to know when to refer issues to the immediate boss and also know when to ensure proper documentation of issues.”
He said the next two years in Nigeria, is going to be very tense as a lot of people who think they have done things that are buried forever, would be exposed.
“It will take only one petition to dig it out, one introduction to set one person against the other.
Politics is a major factor in our lives. I have spent several years with Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practice Commission, If you know the amount of files that are yet to be investigated, you would be shocked. Some are in millions, billions and thousands involving civil servants, corporations and businessmen. The crux of the matter, is that we should not be under the scope of any investigation at all. So as civil servant, you should be thinking about how to protect your legacy.”
Earlier in his remarks, the Executive Chairman of the board, Wahab Alawiye-King said the workshop was necessary so that staff can ensure transparency, accountability and financial prudence in their dealings with their stakeholders.
“They need to know how to follow due diligence in line with the law, so that they will know that there are standard operating procedure,” he said.
Emphasising on the issue of money laundering and the significant of the programme, Alawiye- King said, “we need to empower ourselves and let our directors know the impact of money laundering and acquaint ourselves with what constitute money laundering . We deal mostly with outsiders and handle money and so we should be able to expose ourselves to the regulations. What are the effect of money laundering , it is part of our determination to empower ourselves on what is necessary to do our work seamlessly.
That is why we have invited regulatory agency in that field to come and talk to us on what we need to know.”
