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 Television’s Inside Sources.
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Adeyeye compared the situation to financial management in developed countries, stating, “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.” She emphasized the severity of the financial situation by noting the historical exchange rate, stating, “At that time, N1 million was equivalent to $2,000. So multiply $2,000 by N500m.”
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, “We started Zoom meetings in 2018. Many people didn’t like it because they were used to getting travel allowances and DTAs. But we had to save.”
Adeyeye expressed optimism about Nigeria’s potential for development, asserting that the country is “blessed” with sufficient resources to facilitate progress.
