The Independent Corrupt Practices and other Related Offences Commission (ICPC) has raised the alarm over diversion of public funds.
The News Agency of Nigeria reports that the ICPC Chairman, Prof. Bolaji Owasannoye, raised the alarm at a two-day capacity-building workshop for members of the House of Representatives Committee on Anti-Corruption on Thursday.
Owosannoye, who warned that if Nigerians do not deal with the ethical issues of corruption, it would further impact negatively on the country.
frowned at the diversion of public funds, both in revenue receipts and expenditure.
He also condemned the illicit financial flow, misapplication of funds and budget padding, saying it was time corruption was confronted headlong, adding that Nigerians were yet to recognise the death knell that corruption meant.
Owasannoye noted also that this had been worsened by high level hypocrisy.
Owasannoye said that the fight against corruption remained multi-dimensional; involving all institutions, adding that there would be no success without collaboration.
He added that information sharing and capacity building workshops were crucial in the fight against corruption.