• Friday, April 19, 2024
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BusinessDay

State of the Nation: Where do we go from here?

financial crimes

The time for self-deceit has come and gone. Nigeria should no longer be run on this path of perfidious profligacy. Those who have any iota of love for, or allegiance to the nation-state would agree that we have reached the precipice of all that could undermine the peace, political stability, unity and economic prosperity of our dear country, Nigeria.

From unending insecurity through overt nepotism to monumental corruption and self-decimating impunity, all these anti-democratic storms rage against us all. In fact, they batter us right on our forlorn faces. Should we not get worried, and talk about them? We should. In fact, more importantly we should collectively act to steer the ship of state from capsizing into the deep sea of ignominy? Indeed, we should have acted as the agents of positive change long ago.

For instance, when the avatar, Nelson Mandela (of blessed memory) openly lamented the sorry state of the Nigerian paradox, we did not take him seriously. He Said: ‘’Your leaders have no respect for their people. They believe that their personal interests are the interests of their people. They take the people’s resources and turn it into personal wealth. There is a level of poverty in Nigeria that should be unacceptable.’’ That was over a decade ago!

And in June, 2010 some concerned Nigerians out there in the United States of America (USA), precisely in New York, raised a similar alarm. Speaking under the platform of Nigeria Democratic Leadership Form (NDLF), it stated that: ‘’While other nations are faced with the challenges of the 21st Century, we are bogged down by the avarice of the elite. Every time we believe we have seen the worst from our country, the shameless, opportunistic power grabbers take us back to a new low.’’ How prophetic!

Perhaps, we thought we had truly ‘’seen the worst’’ with the severally reported incidents of brazen pillaging of our common till under the military jackboots. That was especially so during the terrifying times of the Gen. Ibrahim Babaginda and Muhammed Abacha-led regimes. But we were yet to know what the 16 years of the People’s Democratic Party (PDP) had in stock for Nigeria and her long-suffering citizens.

‘’Yea, they are greedy dogs which cannot have enough.

And they are shepherds that cannot understand.

They all look their way everyone for his own gain’’

-Isaiah 54 verse 11

As at this day, there are still more questions than credible answers over the once popular ‘power probes’. That was with regards to the epileptic electric power supply that could not give value for the huge sum of $16 billion said to have been spent on it. So it was for the energy sector that has Nigeria behaving like the proverbial foolish farmer with four lazy wives (refineries). But he is one who is more interested in sending his raw, big yams (crude oil) to other more agile women in other farms(foreign refineries) to be pounded(refined) and he is curiously always getting excited at paying more for the pounded yam (refined oil).

Not left out is the telecommunications sector, as Nigerians are yet to know whatever happened to the mouth-watering contracts awarded! According to Ewan Sutherland in his work titled: ‘Telecommunications-the case of Nigeria: Digital Policy, Regulations and Governance’ (Emerald Insight, 14th May, 2018), ‘’the corruption is pervasive and systemic, showing severe problems with governance in general and against corruption’’. Is anyone talking about the issue of corruption, again? No one!

Years later, the Economic and Financial Crimes Commission (EFCC) claimed that it was able to trace N47billion and $4876.5 million in cash and properties to former Minister of Petroleum Resources, Diezani Alison-Madueke. That was according to Premium Times on August 8, 2017. But over two years later, it was reported by pulse.ng on November 26, 2019 that the same EFCC had dropped charges of corruption allegations brought against her! Wonders will never end, at least not here in Nigeria.

Fears are rife that nothing will come out of the on-going probes into the EFCC activities under the embattled, erstwhile Acting Chairman, Ibrahim Magu and the steaming sleaze under the Senator Godswill Akpabio-dominated Niger Delta Development Commission (NDDC). But it should not continue this way.

If memory serves right, one of the main reasons that incumbent President Muhammadu Buhari won the hearts of several millions of Nigerian voters back in 2015 was on the moving mantra of integrity. He rose on its smooth back to the pedestal of political power. But with the recent revelations of stinking allegations of monumental fraud at the EFCC and the NDDC under his administration there is still much more to be done than said, on finally nailing the coffin of corruption here in Nigeria.

To do so, we have to look at the root causes of corruption, narrowing it down to financial crimes. The so-called ‘public servants’ feel no string of moral compunction to dip their hands into the ‘public purse’ to feather their nests, over and over again, because Nigerians are not brought up, or weaned on the milk of patriotism. There is little or no allegiance to the nation called Nigeria.

In fact, millions of the young ones cannot mention what they have gained from the country, in terms of scholarship awards, bursaries, free healthcare delivery, and free transport system. There are no palliatives to cater for their needs when they have no jobs. This is in no way an excuse for any citizen to steal from his government, because no wise child would pilfer from his family resources, but something must be done about it.

The second reason is traceable to the loopholes made available by the aberrant structure. And because there are no strong, punitive measures in place, as well as the sickening issue of impunity whereby thieves are treated with kid gloves, others muster the courage to do the same thing, because they believe they would get away with it. They can still see the Mainas, the Babachirs, the Yakubus walking our streets as free men.

The way forward therefore, is for Mister President, in the national interest, to allow for the holistic restructuring of the country, as promised by his party, the All Progressives Congress (APC) back in 2014 during the electioneering campaigns. Matching words with timely action is integrity. Let the states or geo-political zones control their resources and pay an agreed percentage of revenue into the federation account. That was how it played out during the First Republic, that served as catalyst for faster economic development.

Let him sign the Electoral Amendment Bill into law, to ensure that the voice of the voters is heard loud and clear. Above all, there should be special courts set up to speedily try issues related to financial crimes. Let there be the political will, on the part of our incorruptible political leaders to step on the mightiest of toes, no matter how closely linked they are to the seat of power. Only these would serve as strong deterrence for the criminally-minded politicians.

For now, the EFCC and NDDC investigations are litmus tests for this administration’s war against financial fraud. Any attempt to turn them into comedy shows or political witch-hunt would undo the image of even the president. The world is watching us.