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The Director-General, National Agency for Food and Drug Administration and Control, Prof. Mojisola Adeyeye on Friday disclosed that she inherited a debt of N3.2 billion when she took over the agency’s affairs in 2017.
She added that another N500 million was unaccounted for, during her interview on Channels Television’s programme, Inside Sources.
Adeyeye noted that if such financial loss had happened in developed climes like the United States, the agency would have been “declared bankrupt and a financial house would have taken over the management of our finances.”
The NAFDAC boss said, “When I got to NAFDAC, I met N3.2b debt, and N500m missing and there was no account for it before I came.
“I 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 N500m. I was coming from the US where money was hard to get. You worked hard for your money. I could have given up but I saw an opportunity and I seized it.
“It 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’t have money to hire a financial house.”
Adeyeye also recalled how she reduced the high expenses by some officials of the agency, citing the introduction of technological applications like Zoom, to cut travel expenses.
She noted, “My point is that we have enough endowment in this country to make things better, and I am using NAFDAC as an example.
“I said I was going to cut to the bone. I am going to be using technology to ensure that our system moves on.
“We started Zoom meetings in 2018. Many people didn’t like because it they were used to getting travel allowances and DTAs. But we had to save.