{"id":17497,"date":"2024-08-09T18:22:50","date_gmt":"2024-08-09T17:22:50","guid":{"rendered":"https:\/\/thedailyleaks.com\/?p=17497"},"modified":"2024-08-09T18:22:50","modified_gmt":"2024-08-09T17:22:50","slug":"i-met-n3-2bn-debt-n500m-missing-if-in-us-nafdac-wouldve-been-declared-bankrupt-prof-adeyeye","status":"publish","type":"post","link":"https:\/\/thedailyleaks.com\/i-met-n3-2bn-debt-n500m-missing-if-in-us-nafdac-wouldve-been-declared-bankrupt-prof-adeyeye\/","title":{"rendered":"I met N3.2bn debt, N500m missing; if in US, NAFDAC would\u2019ve been declared bankrupt \u2014 Prof. Adeyeye"},"content":{"rendered":"

By Marvellous Nyang<\/p>\n

August 9, 2024<\/strong><\/p>\n

Prof. Mojisola Adeyeye, the Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), has disclosed the significant financial challenges she faced upon her appointment in 2017.<\/p>\n

She reported inheriting a staggering debt of N3.2 billion, along with an additional N500 million that was unaccounted for in a revealing interview on Channels Television\u2019s programme as a guest on Inside Sources with Laolu Akande.<\/p>\n

\u201cI met N3.2 billion debt, and N500 million missing and there was no account for it before I came,\u201d she stated, highlighting the urgency of the situation.<\/p>\n

She acknowledged that Nigeria is a blessed nation with \u201cenough endowment\u201d to facilitate improved development.<\/p>\n

Prof. Adeyeye, formerly based in the United States underscored the gravity of these financial issues by comparing NAFDAC’s circumstances to those in developed countries.<\/p>\n

ALSO READ:\u00a0Michael Bloomberg announces $600 million gift to historically Black medical schools<\/a><\/strong><\/p>\n

\u201cIt was tough because if that had happened in the US, NAFDAC would have been declared bankrupt, and a financial house would have taken over the management of our finances. But I didn\u2019t have money to hire a financial house,\u201d she noted,\u00a0 emphasising the critical need for fiscal responsibility and transparency within the agency.<\/p>\n

Drawing on her experience in the United States, Adeyeye reflected on the value of financial resources.<\/p>\n

\u201cI asked them if they had capital projects they used the money for. Bear in mind that at that time, N1 million was equivalent to $2,000. So multiply $2,000 by N500 million. I was coming from the US where money was hard to get.<\/p>\n

‘You worked hard for your money. I could have given up but I saw an opportunity and I seized it,\u201d she explained, illustrating her determination to address the agency’s financial challenges.<\/p>\n

To combat the financial crisis, Adeyeye said she implemented strategic reforms aimed at reducing operational costs.<\/p>\n

She emphasised the importance of leveraging technology, stating, \u201cI said I was going to cut to the bone. I am going to be using technology to ensure that our system moves on.\u201d<\/p>\n

She informed that the introduction of Zoom meetings in 2018 was a key initiative to minimise travel expenses, despite initial resistance from some staff accustomed to travel allowances.<\/p>\n

\u201cMany people didn\u2019t like it because they were used to getting travel allowances and DTAs. But we had to save,\u201d she added.<\/p>\n

In her concluding remarks, Prof. Adeyeye expressed optimism about Nigeria’s potential for growth and development, asserting, \u201cMy point is that we have enough endowment in this country to make things better, and I am using NAFDAC as an example.\u201d<\/p>\n

As portrayed during the interview session, Prof. Adeyeye’s leadership reflects a commitment to overcoming financial obstacles while fostering a culture of efficiency and accountability within the agency.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Marvellous Nyang August 9, 2024 Prof. Mojisola Adeyeye, the Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), has disclosed the significant financial challenges she faced upon her appointment in […]<\/a><\/p>\n<\/div>","protected":false},"author":2,"featured_media":17498,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,2],"tags":[667,3165],"coauthors":[25],"class_list":{"0":"post-17497","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-latest-news","8":"category-top-news","9":"tag-nafdac","10":"tag-prof-adeyeye"},"yoast_head":"\nI met N3.2bn debt, N500m missing; if in US, NAFDAC would\u2019ve been declared bankrupt \u2014 Prof. Adeyeye - The Daily Leaks<\/title>\n<meta name=\"description\" content=\"Prof. Mojisola Adeyeye, the Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), has disclosed the significant financial challenges she faced upon her appointment in 2017...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thedailyleaks.com\/i-met-n3-2bn-debt-n500m-missing-if-in-us-nafdac-wouldve-been-declared-bankrupt-prof-adeyeye\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"I met N3.2bn debt, N500m missing; 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