Upon assuming office, the Director General of the National Agency for Food and Drug Administration and Control (NAFDAC), Professor Mojisola Adeyeye, was confronted with a substantial debt of N3.2 billion and $500 million in undiscounted funds.
In an interview with Channels Television on Friday, Adeyeye made this revelation, emphasizing the dire financial circumstances she inherited.
She pointed out that such a financial burden would have led to bankruptcy if NAFDAC was situated in a developed country like the United States.
According to Adeyeye, “Upon arrival at NAFDAC, I discovered a N3.2 billion debt and $500 million unaccounted for. There was no record of how the money was used before my tenure.”
She further explained, “I inquired if the funds were allocated to any capital projects. Consider that during that period, $2,000 was equivalent to N1 million. So, multiply $2,000 by N500 million.”
Reflecting on the situation, Adeyeye added, “It was a challenging circumstance because if such a scenario had occurred in the US, NAFDAC would have faced bankruptcy, and a financial institution would have taken control of our financial management. However, I lacked the resources to engage a financial institution.”
To address the financial crisis, the NAFDAC DG implemented austerity measures such as leveraging technological tools like Zoom to curtail expenses related to travel.
“We initiated the use of Zoom meetings in 2018. Despite resistance from those accustomed to receiving travel allowances and Daily Transport Allowances (DTAs), we had to prioritize savings,” she highlighted.