The World Bank has said Nigeria moved out of last year’s recession faster than expected.

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Nigeria slipped into recession in the second quarter of 2020 amid the economic fallout of the COVID-19 pandemic but emerged from it in the fourth quarter.

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The Chairman of the Independent Corrupt Practices and Other Related Offences Commission ICPC, Prof Bolaji Owasanoye, SAN, has condemned the padding of budget by government officials, warning that the Commission won’t tolerate breach of government financial rules and regulations.

Owasanoye, according to a statement on Friday, by the ICPC spokesperson, Azuka Ogaga, advised the hospitals managements to carry out a proper evaluation of the number of personnel needed and for which services so as not to overshoot the number of non-regular staff required.

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He pointed out that it was an aberration for Federal Medical Centres to have more staff than teaching hospitals and criticised the fraudulent practices associated with outsourcing of services which was prevalent in the hospitals.

He noted that a review of the health sector undertaken by the Commission revealed that funds meant for specific projects in hospitals had been diverted to other unimportant areas.

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On internally generated revenue, Owasanoye told the finance directors that agencies which receive allocations from government were expected to pay 100 per cent of their IGRs into the government treasury to avoid abuse.

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Vice President, Yemi Osinbajo, has called for synergy between various tiers of government, Ministries, Departments, and Agencies at all levels.

Professor Osinbajo stated this on Friday in a keynote address delivered virtually at the 19th meeting of the National Council on Development Planning themed “National Development Planning in Nigeria: Issues and Challenges”.

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He said the coordination between the government and the MDAs was important to ensure that  national plans are inclusive In other to  promote high growth and economic diversification.

According to him,  Nigeria’s economic plan should  be modern and ambitious but yet realistic and flexible enough to absorb shocks and adapt to swiftly changing domestic and international conditions.

He further stressed that these  plans must accelerate domestic resource mobilisation and capacity building While noting that the best possible environment for the private sector to invest and operate must be created in other for Nigeria’s economy to thrive

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