EditorialTHEWILL EDITORIAL: Ugly Face Of Corruption In Nigeria

THEWILL EDITORIAL: Ugly Face Of Corruption In Nigeria

July 07, (THEWILL) – From the anti-graft czar, Olu Olukoyede, came a strong indictment of corruption in Nigeria last week. During a courtesy visit by the management team of the Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, led by its Chairman, Mohammed Shehu, the Chairman of the Economic and Financial Crimes Commission, EFCC, Olukoyede said anytime he checked the case files and sees the amount stolen in the country, he wonders how it still continues to survive.

He added that if Nigerians were to see some of the files they would weep. He was talking about public corruption and of course, its enablers in the private sectors

“When I look at some case files and see the humongous amount of money stolen, I wonder how we are still surviving. If you see some case files, you will weep. The way they move unspent budgetary allocation to private accounts in commercial banks before midnight at the end of a budget circle, you will wonder what kind of spirit drives us as Nigerians,” he lamented.


History, they say, always holds the answer to a seeming puzzle.

He stressed that transparency and accountability should be embedded in both the public and private sectors for optimal development of the country.

In 1991, a distraught Head of State, General Ibrahim Badamasi Babangida, blabbed that the Nigerian economy ‘defies every economic principle and theory in the book,’ after having worked with the best minds from the academia and great social engineers, whose practices failed to pull the country out of economic downturn.

Blunt and frank, Olukoyede, appeared to have provided the answer to Babangida’s query 33 years ago, a generation after.

As one of the most corrupt countries in the world, according to the Global Corruption Index, with 133 million Nigerians suffering multidimensional poverty, even by government standard, it is easy to see why government after government and their policies since Babangida’s era, have failed to make Nigeria earn its name as the biggest black country in the world, despite being renowned for its wealth in human and natural resources.

Corruption is the only and biggest threat to the economic growth and development in the country. Governments and their officials pay lip service to the eradication of corruption and yet lift no finger to do anything about it.

Indeed, the immediate past Muhammadu Buhari’s administration made the fight against corruption one of its cardinal principles. It is doubtful if he as much as succeeded in laying a foundation, let alone fight it.

EFCC’s Chairman’s disclosure is enough evidence that nothing serious was done during the eight years of that baleful administration.

The fact that a Minister of one of the direct-people impact ministries of that past administration, Humanitarian and Disaster Management, Sadiya Farouk, and head of a section, were made to return billions of Naira as well as the former Minister of Aviation, Hadji Sirika, currently undergoing questioning by the EFCC, shows that corruption was well and running under Buhari’s eight years. This is not only a sad commentary on the quality of that administration but a warning not to take elected officials for their words.

Shedding more light on the problem, Olukoyede identified the system of revenue generation which allows leakages in the mobilisation and allocation of funds. “If we do not look at the system, we will be chasing shadows,” he said.

In the past few months, Olukoyede has come across as forthright and intentional in executing his mandate as the EFCC Chairman. In the often hazy and opaque system that almost all administrations have run in the past 25 years, it is comforting to find an appointee of the government talking with such zeal and directness.

While praising him for his forthrightness, we wish to state that he is also putting himself on the spot for public opinion and assessment in the execution of his job. Every form of support should be given to the new department of the agency, namely, Department of Fraud Risk and Assessment and Control to carry out its preventive task over corruption.

In a country where borrowing is almost an official government policy, thus plunging the country into debts with little left for fiscal financing, recovering looted funds and blocking leakages in the system will go a long way in releasing the need for capital to execute projects and enhance good governance.



More like this

CBN Directs Banks to Transfer Funds in Dormant Accounts, Unclaimed Balances

July 21, (THEWILL) - The Central Bank of Nigeria...

Akomolede Shines As Sporting Lagos Beat FC Tokyo, Lift Gothia Cup

July 21, (THEWILL) - Nigerian football Club, Sporting Lagos,...

Southampton Striker Onuachu Nears Saudi Arabia Transfer

July 20, (THEWILL) - Southampton's Nigerian forward Paul Onuachu...