HomeHealthNAFDAC DG reveals inherited N3.2 billion debt

NAFDAC DG reveals inherited N3.2 billion debt

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Prof. Mojisola Adeyeye, Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), revealed on Friday that she inherited a debt of N3.2 billion when she assumed leadership of the agency in 2017.

Additionally, N500 million was unaccounted for, Adeyeye disclosed during an interview on Channels Televisionโ€™s Inside Sources.

READ ALSO: NAFDAC confiscates millions worth of substandard alcoholic beverages in Imo

Adeyeye compared the situation to financial management in developed countries, stating, โ€œIf 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.โ€ She emphasized the severity of the financial situation by noting the historical exchange rate, stating, โ€œAt that time, N1 million was equivalent to $2,000. So multiply $2,000 by N500m.โ€

Despite the financial challenges, Adeyeye saw an opportunity for improvement and took action. She highlighted the introduction of technological solutions such as Zoom to reduce travel costs, noting, โ€œWe started Zoom meetings in 2018. Many people didnโ€™t like it because they were used to getting travel allowances and DTAs. But we had to save.โ€

Adeyeye expressed optimism about Nigeriaโ€™s potential for development, asserting that the country is โ€œblessedโ€ with sufficient resources to facilitate progress.

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