Views: Visits 9 The inability of Nigeria to establish the National Procurement Council in line with the Public Procurement Act of 2007 meant to standardize the cost of procurement in public and private live-in Nigeria in line with best global practices is costing the country in excess of N300 billion annually, the President and Chairman of Council of the Chartered Institute of Forensics and Fraud Examiners of Nigeria, Dr. Iliyasu B. Gashinbaki has said. The 14 years Council in abeyance was convinced to take over the procurement functions currently undertaken by the Federal Executive Council (FEC) at the Federal level and by State Executive Councils (SEC) at the states level, set up uniform and standard pricing for goods and services as opposed to the current situation where price relativity rule with differences for same goods and services supplied by contractors or consultants resulting in the huge cost which is far in excess of some key Federal Government’s allocation for the current fiscal 2021 spending plan.