Business analysts are of the opinion that the arraignment of the Bukola Saraki over charges of false declaration of assets at the Code of Conduct Tribunal will assist in boosting the image of the country and attract international investors.
Bukola Saraki
According to the BusinessDay, the arraignment of Bukola Saraki, Nigeria’s Senate President, before the Code of Conduct Tribunal (CCT), Abuja some days back, may have sent positive signals to the international investment community to whom one of the turn-offs in developing economies is concern about respect for the rule of law.
Multinationals typically list lack of respect for the rule of law, slow and winding legal processes, poor infrastructure, government policy flips and corruption, as turn-offs to doing business in developing economies such as Nigeria.
Economy watchers say that following on this, the appearance of Saraki at the tribunal, the legal arguments for and against, which saw him finally sitting in the dock and the the exercise of legal protocols, displayed due process and respect for the rule of law.
Saraki was on September 11, faced with a 13 count charge bordering on alleged false declaration of assets, by the Code of Conduct Bureau.
But the Senate President pleaded not guilty to the charges.
However, analysts who spoke with BusinessDay were unanimous in their submissions that the absence of a cabinet, especially an Attorney-General, in President Muhammadu Buhari’s government, leaves much to be desired.
They further argue that dealing with corruption and upholding the tenets of the rule of law, necessitate that all the necessary structures be put in place, while efforts be made to strengthen the institutions.
But, some lawyers who spoke with Business Day were divided on the procedures and methodology in the whole drama which they interpreted differently.