Nigeria accounts for bulk of Africa’s $90 billion stashed assets


The Independent Corrupt Practices and other Related Offences Commission (ICPC) has said Nigeria accounts for the bulk of Africa’s $90 billion assets stashed abroad yearly. It regretted that the continent never received the same amount in aid from development partners in 12 months.ICPC Chairman, Prof. Bolaji Owosanoye, at an African Union (AU) event in Bauchi, lamented that the citizens suffer one denial or the other on account of graft.

Represented by the ICPC commissioner in the state, Abubakar Dutsinma, he said tax fraud and illicit financial flow investigations were also being conducted by the commission as well as prosecution of corruption and money laundering. He hinted that efforts were geared towards the recovery of stolen wealth for Nigeria’s transformation.

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The ICPC boss said: “Millions of Nigerians suffering denial of basic social services and lack of infrastructures such as hospitals, schools, water and employment will receive succor when stolen assets are recovered.“When you return stolen wealth to the original owner in a way that obviously makes the concealment of same difficult at all times, there is less controversy in corruption fight, future perpetrators are prevented from such evil enterprise while the common people that were made poor by activities of thieves get to rejoice and bask in general prosperity.”

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However, a non-governmental organization, United Global Resolve For Peace (UGRFP), has urged President Muhammadu Buhari to take the fight against corruption to government-owned institutions. The group was reacting to last week’s Transparency International (TI) survey which rated the police, parliament and judiciary as the most corrupt establishments in Nigeria.

The study was titled: “Global Corruption Barometer Africa 2019: Citizens’ Views and Experience on Corruption.” The global agency noted that graft was a major barrier to economic growth, good governance and basic freedoms.UGRFP made the reservations through its Executive Director, Shalom Olaseni.

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Besides, the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has identified self-discipline as most essential ingredient in the fight against graft and other vices. He made the submission at the weekend in Ibadan when the commission led thousands of residents of the ancient city in a fitness walk/physical exercise. The Ibadan Zonal Head of the anti-graft body, Friday Ebelo, drew the link between regular physical exercise and the ability to tackle corruption.The walk was third in the series.

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