Obasanjo Warns Corruption Is Making Poor Nigerians Even Poorer

(Former President Olusegun Obasanjo. Photo by Arise News)
Former President Olusegun Obasanjo has warned that corruption is making poor Nigerians poorer and holding back the country's development.

He spoke in Lagos on Monday while chairing the public presentation of Unexplained Wealth: A Trilogy of Nigerian Financial Law, a three volume book by Senior Advocate of Nigeria, Dr Wahab Shittu.

Obasanjo called corruption development's greatest and deadliest danger and said unexplained wealth is against society, progress and development.

He said the poor suffer most in a corrupt society and it makes them poorer.

He called for stronger institutions and real accountability for those who divert public money, and recalled how his government built up the ICPC and EFCC.

Emir of Kano, Muhammadu Sanusi II, said new laws on unexplained wealth will not do much without political and judicial reforms.

He said anyone with unexplained wealth and the right political cover is never questioned, while those on the wrong side of politics get into trouble.

He urged that anti-corruption laws be applied fairly to everyone.

Former Vice President Yemi Osinbajo was represented by his former Chief of Staff, Ade Ipaye.

In his message, Osinbajo said Nigeria urgently needs a fair and constitutional way to recover stolen assets without threatening wealth that was lawfully earned.

Book reviewer Professor Olanrewaju Fagbohun, SAN, cautioned that lack of formal paperwork should not be taken as proof that wealth is criminal, since Nigeria has a large informal economy where honest deals often leave no paper trail.

Shittu said his book aims to help build a legal framework that can tell honest wealth from illicit wealth.

He said getting rich is not a crime but getting rich dubiously is, and that reliable records are key. Without them, he warned, enforcement could turn into suspicion without proof.