He said this while declaring open the consultative meeting of the Network of Anti-Corruption Institutions in West Africa (NACIWA) to “develop faculties for training on Corruption Risk Assessment (CRA) held in Abuja on Thursday.
The training was organised by the Economic Community for West African States (ECOWAS) Commission.
Owasanoye said that the adverse effects of corruption on Africa and the sub-region eroded values and destroyed humanity.
“It undermines the rule of law, breaches due process of governance, it produces poor infrastructure and services, and it dispenses justices to the rich, creates unemployment and discourages foreign investment.
“In another vein, corruption in law enforcement creates criminal cells, and sense of impunity by criminal groups.
“Corruption diverts public resources into private hands, it increases the cost of business; it instigates civil strife and unrest due to inequality in the distribution of resources and opportunities; it promotes poverty among other vices.
“The ICPC appreciates these threats and particularly the broken processes and procedures which are exploited by corrupt and criminally-minded individuals, and we are committed to riding the country of them,” he said.
The chairman said that the commission believed that prevention was vital to controlling and eradicating corruption.
He said that ICPC’s prevention tool included Systems Study and Review and Corruption Risk Assessment (CRA).
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