National Wire About Nigerians, Nigerian Business and Other Stories
Dayo Emmanuel
A report has revealed that a total of N1,354,132,400,000.00 was allegedly embezzled from the Nigerian coffers since the advent of democracy in 1999.
The report, a product of in-depth research published in a document titled, “Justice or Impunity? High profile corruption cases crawling or gone to sleep,” by Professor Bolaji Owasanoye, gave the alarming figure allegedly misappropriated from Nigeria by subsequent Federal, State Administrations and persons from the private sector.
According to the research, the embezzled sum was shared among some ex-governors, ministers, legislators, public servants and people from the private sector.
In all, a total of 15 former Governors according to the report embezzled a total of N146,840,800.00, while four ex-ministers embezzled N7,050,000,000.00, five former lawmakers embezzled N8,350,000,000.00. The report stated further that seven former federal public servants also embezzled N6,906,600,000 while five former state public servants embezzled N7,275,000,000. In the private sector however, 8 officers in the banking industry according to the report embezzled N524,560,000,000.00 and 11 businessmen embezzled N653,150,000,000.00.
Meanwhile, the Economic and Financial Crimes Commissions (EFCC) established in 2003 by the administration of former President Olusegun Obasanjo may not have fulfilled its mission of riding Nigeria off Economic and Financial crimes after 13 years of its establishment.
Though the anti-graft agency has recorded some feats, there are still complains that the commission seems to have lost steam in pursuing several old cases in which several trillions have been syphoned by corrupt officials.
While the EFCC may have done its best in pursuing cases of alleged corruption, the available legal framework may be a major setback for the agency.
The report states that, “Yet, more than a decade after its (EFCC), establishment, the jury is still out on whether the anti-corruption agency has fulfilled its mission. Its anti-corruption campaign is fast losing steam and public support. This is not to say that there are no negative consequences for criminal acts; there are especially if the accused person belongs to the wrong class.”
Stating further, the study, published by Human Development Initiatives in 2014 highlighted that the EFCC is combatting challenges in living up to its name and missions. “This explains why the EFCC is having tough times securing convictions for alleged high profile corrupters in our society. As this report will show, the EFCC is not to entirely be blamed for this, given the constraints that permeate the entire judicial process where cases drag on endlessly. Indeed, it appears that laws are often twisted to favour the wealthy and powerful in Nigeria.”
Recently, while the anti-corruption war continues, the EFCC has constantly been in the news for pursuing one corruption case or the other. The agency’s success however is hinged on favourable legal framework without which would make its efforts tantamount to a wild goose chase which has been the case since most celebrated cases have not culminated in serious conviction.
While Nigeria is facing a huge economic depression, the Federal Government has approached the National Assembly for approval to go for loan of about $30bn, the onus is on the Federal Government to block leakages through which the nation has bled for decades.
However, if the anti corruption war must be won, the issue of justice must be addressed. Then, the Federal Government through its relevant agencies must ensure a legal framework to speed up prosecution of alleged corrupt individuals which cases must be given reasonable conclusion without delay.
