Economic hardship: Group drums support for restructuring, says corruption endemic under Tinubu

Piqued by the height of economic hardship and corruption in Nigeria, a group, the Global Nigerian Diaspora Forum, has thrown its weight behind calls by other eminent Nigerians for a transformational restructuring, saying the nation stands at a crossroads.

This was as the Nigerian global group observed the citizenry were daily plunged into the shackles of economic hardship and poverty, reiterating the country risked ‘implosion’ under President Bola Tinubu.

In a letter titled, “The Era of Complacency Has Come to An End”, which was signed and issued on Friday by its Founder, Prof. Mondy Gold, the group noted that hunger and corruption were more endemic under Tinubu’s watch, compared to past administrations.

The letter read, “We are compelled to write this letter with a profound sense of concern and urgency weighing on our hearts. Our beloved nation stands at a crossroads, grappling with severe challenges that cast a shadow over our very survival. Each passing day presents us with new obstacles that threaten to erode the fabric of our society. In this pivotal moment, we must not shy away from the harsh realities that confront us. Instead, we must summon the courage to confront these challenges head-on, demanding nothing short of tangible and meaningful transformation from those who lead us. Our future depends on the boldness of our actions and the steadfastness of our resolve.

“First and foremost, let us confront the glaring issues at hand: corruption, the exchange rate, and poor leadership. The current rate of 1470 NGN is simply unattainable, given the dire state of our economy. The root causes of this economic turmoil, namely rampant corruption and ineffective governance, have yet to be adequately addressed.

“Like millions of Nigerians and friends of Nigeria, we convinced that Mr. Bola Tinubu has repeatedly demonstrated his incompetence and incapability. With an inflation rate hovering around 44% and reports indicating that a staggering 65% of Nigerians have encountered corruption in dealings with public officials, it is evident that the rot runs deep within our institutions, directly stemming from visionless leadership.

“The time for waiting is over; we stand at the precipice of change, demanding revolutionary actions and transformational shifts that our nation so desperately needs.

“Corruption, utilized as a tool by the ruling elite, exerts a profound adverse impact on the enforcement of law and hampers economic development. It obstructs the safeguarding of fundamental environmental, economic, human, and civil liberties, perpetuating poverty, social discord, insecurity, and political turmoil. Despite the introduction of numerous anti-corruption measures at both federal and state levels, the malignant growth of corruption remains unrestrained.

“Regrettably, the current administration lacks the capability and resolve to effectively confront this persistent and crippling issue, as they are complicit in its propagation. This entrenched corruption has hindered our strides towards enhancing agricultural productivity, establishing a competitive manufacturing sector, and tapping into Nigeria’s technological and innovative capabilities.”

According to Gold, who is also the
Coordinator of African Diaspora for Good Governance, “We are convinced that Mr. Tinubu has elevated corruption to a formidable level and is using it as a weapon on both the national and global fronts, on a scale unprecedented in previous administrations.

“A revolutionary shift in governance, especially in financial management, is imperative. We must insist on accountability and transparency from these corrupt leaders, and hold them accountable for their deeds. We cannot endure a system where the elite enrich themselves while the masses suffer. Under no circumstances should we permit Mr. Tinubu or any other figure to institutionalize corruption as a national strategy.

“While the recent streamlining of ministries and agencies may appear to be a positive step, it is merely a tactical maneuver to sidestep the undeniable necessity for comprehensive restructuring. What we require is decisive and bold action, not superficial measures aimed at pacifying the public while preserving the status quo. The Nigerian Diaspora, endowed with resources and expertise, adamantly refuse to be purposefully excluded from the nation’s developmental endeavors. Therefore, any successful reorganization of ministries must include the establishment of a dedicated Ministry of the Nigerian Diaspora.

“We must express our profound disappointment in Mr. Bola Tinubu, whom many had hoped would be a champion for change. Instead, his actions have shown him to be nothing more than a coward, unwilling to confront the deep-seated corruption that plagues our nation.

“It is time to dismantle the legislative system as it currently exists. We do not need the bloated bureaucracy of hundreds of federal legislators, who brazenly and obscenely allocate billions to themselves, while honest and hardworking taxpayers continue to struggle. Instead, we should have no more than 37 part-time representatives tasked with the formulation of laws for Nigeria.

“We demand an end to all foreign trips for appointed and elected officials, as well as their family members, until the exchange rate is stabilized at 1 USD to 100 NGN. Our public officials should not be gallivanting around the globe while our economy suffers. We have ambassadors in all countries of the world who are capable of dealing with our needs internationally.

“We demand an immediate cessation of all international meetings, including those held at the United Nations, until further notice or until our economy experiences substantial improvement. This directive applies to all government officials, including Mr. President of Nigeria. As earlier stated, our ambassadors are eminently qualified to represent us at the international stage until we have achieved a guaranteed 24-hour electricity supply, implemented a ban on the importation of generators, and ensured the full reactivation of all refineries and seaports. It is imperative that we prioritize addressing these fundamental issues before engaging in any further international commitments.”

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