FG should formulate loot recovery policy

By Salawuddeen Ahmed Alao

I have no doubt in my mind that President Muhammadu Buhari is committed to fighting corruption. Therefore, he needs the support of all Nigerians to succeed. Whether you are a Muslim, Christian, Northerner or Southerner, you are affected by the consequences of corruption. In fact, corruption halts development because the resources meant for the well being and progress of Nigerians are diverted to private pockets by those who use public office for personal advantages.

However, while supporting President Buhari in his endeavour to rid Nigeria of corruption, it is important he introduces a more comprehensive policy of recovering looted funds. Since 1999, the loot recovery efforts have been concentrated on the Abachas. Does that mean corruption ended with the death of General Sani Abacha? Does that mean there are no more thieves in Nigeria since his demise?
Anyone who believes this can believe any nonsense. According to Global Integrity Group, a Washington-based transparency watchdog, more than 229 billion dollars were fraudulently transferred out of Nigeria into foreign banks from 1999 to 2010 alone.

To believe that nobody stole money under the Olusegun Obasanjo government is the height of stupidity. The large-scale corruption under our so-called democracy is unprecedented. And the rate of stealing has not declined since our return to democratic rule in 1999. In fact, we should apologise to our former military rulers for accusing them of corruption. Under this democracy, public offices holders become billionaires overnight.

They ride the backs of the people under the guise of the so-called mandate to steal their money. The scale of corruption is so huge today that we should extend loot recovery efforts beyond the Abachas.
What we need in Nigeria today is a more comprehensive loot recovery efforts. You cannot convince Nigerians that you are fighting corruption by concentrating on the wealth of one former head of state because he is dead. It is sheer hypocrisy to limit loot recovery to General Abacha’s wealth.
President Muhammadu Buhari should avoid former President Obasanjo’s one-sided loot recovery efforts.

The former president didn’t show any enthusiasm to recover looted funds by other public office holders. It is insulting to tell Nigerians that recovering looted funds from the Abachas is enough indication of fighting corruption. Loot recovery efforts must be across the board. It is high time we went beyond the Abachas in these recovery efforts.

It is ironical that those going after Abacha’s wealth cannot defend the sources of their own wealth. According to former Defence Minister, General T.Y Danjuma, former President Obasanjo “was stone broke when he came out of jail in 1998.”  Today, the same Obasanjo is a multi-billionaire eight years after leaving office.

His wealth leaves more questions than answers. How can a man described as “stone broke in 1998” suddenly become a billionaire eight years after leaving office? Could any leader have become a billionaire without using public office for private advantage? By recovering Abacha’s looted funds alone, does that mean Nigerians should not ask questions about

Obasanjo’s sources of wealth?