Corruption, inefficiency in regulatory agencies worrisome — Osinbajo

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Says Heads of agencies must be held to account

By Yinka Kolawole

The Vice President, Prof. Yemi Osinbajo, has said that heads of regulatory agencies involved in persistent corruption, duplicity of functions, poor service orientation and several anti-business dispositions should be held accountable for service failures in the public sector.

Osinbajo stated this while presenting the “Cost of Compliance Report” by Pricewaterhouse  Coopers, PwC,  to the Presidential Enabling Business Environment Council (PEBEC).

He  directed that CEOs and heads of such government regulatory agencies involved should be presented with the outcomes and interaction should take place regarding some of the worrying disclosures in the report of the survey conducted by PwC.   The vice president said: “In a renewed attempt at further deepening the reforms of the nation’s business environment, PEBEC has resolved that CEOs and Heads of some Federal Government regulatory agencies be presented with the outcome of a recent survey that exposes major pitfalls in the operations of the agencies.”

According to a statement made available to Vanguard by the vice president’s spokesman, Laolu Akande, the Cost of Compliance Report which was presented to the Council at its first virtual meeting of the year on Tuesday revealed persistent corruption, duplicity of functions, poor service orientation, and several anti-business disposition in some of the regulatory agencies.

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