Opinion
Caging The Looted Funds In Nigeria
It is not an exaggeration to
say that Nigeria is swim
ming in corruption as the blind can see and the deaf can hear.
Our pages of newspapers are flooded with very astonishing headlines on corruption and looted funds. One of such was in April 2015 which reads; Swiss government closes door to looters’, which means that Nigerians are ferrying money to Switzerland and other parts of the world on daily basis.
Why is the international community with all its investigative prowess still fail to track down these monies before they get to their destination? It was also reported that a Nigerian bank chief looted N1 trillion naira. Those who harbour these stolen monies are Dubai, London, USA among others.
Also, on 23 April 2015, the President, Gen Muhamadu Buhari said “if you’ve looted Nigeria’s money you must return our money; this is an indication of the return of War Against Corruption. We are also aware that the Swiss government has returned most of the looted funds between the administrations of President Obasanjo and Dr. Goodluck Jonathan.
Surprisingly, the Abacha looted funds returned by the Swiss government was as a result of high diplomatic dialogue between the two countries not minding that it was re-looted as it was not properly accounted for.
On the Nigerian debt profile from the days of independence, the former Coordinating Minister and the Minister of Finance, Dr. Ngozi Okonjo Iweala should explain how the Paris Club cancelled the Nigerian debt under the Obasanjo administration because the surgery of corruption should be the recovery of stolen money, simple. It was also reported that EFCC recovered N4.3 billion and $11 billion in asset within the period under review, one is from fuel scam and the other is through plea bargain.
To be precise, in China, former security tsar, Zhou Yongkang, was charged for corruption case. The China’s corruption conundrum was a celebrated one. It is important to note that curbing corruption in the banking sector is very critical to economic recovery as most bank staff contributed to the menace in Nigerian banking.
This political corruption has vehemently stagnated our collective gains thereby making Nigeria a poor nation. Corruption in the country take the form of bribery, extortion, cronyism, nepotism, graft and embezzlement, among others. Other forms of corruption are repression of political opponents and police brutality.
Bribery alone is estimated to involve over one trillion US dollars, annually, while Nigeria’s involvement in corruption has grown to a very alarming proportion. This facilitates other criminal enterprises such as drug trafficking, money-laundering and human trafficking etc. In particular, corruption in business of government must be mentioned and effectively tackled.
There are Nigerians that have over the years joined others to seek solution to this great evil. Such persons are Prof. Wole Soyinka, a Professor of Economics and Director of the Centre for the Study of African Economies at Oxford University, Paul Collier, an international economist and macreconmist analyst, Dr. Dambisa Moyo, among others. Prof Soyinka has once described corruption in Nigeria as a metaphor, a monumental damage which plans to cripple government.
Many thanks to late Prof. Dora Akunyili who stood her ground to sanitize the drug industry in Nigeria. We must join the train to get rid of corruption by tackling it headlong without delay.
Nigeria must adopt a radical anti-corruption measures in favour of the citizenry. In August 2013, National daily highlighted a plethora of unresolved high-profile cases of corruption and the court cannot extricate itself from the nightmare.
Frankly speaking, the quantum of stolen money in secret bank accounts that are in circulation is high. The way out of this mess is for President Buhari to change all the Nigerian currency with the aim of caging and monitoring properly the level of money individuals and companies will change as banks will be monitored in order to police looted funds.
Most importantly, until Nigerians stop celebrating the looters of our public funds, the fight against corruption will never be a success. These high cases of corruption can be traced to the post- Nigeria independence era, even though it was in a small scale. However the oil windfall under President Ibrahim Babangida facilitated this muster.
There are landmark cases of corruption that disappear into thin air because those involved are highly connected, especially the fuel scam.
The mindset of most Nigerian in offices are geared towards outright stealing in the name of “This is my chance”, that is why the magnitude of corruption in Nigeria is so high that one gets hypertensive because of the volume of lost money from the system.
We as a nation must prepare to make the sacrifice to end corruption from the system as urged President Muhammadu Buhari to speedily appoint a serious-minded person as the arrow head of the EFCC.
It will no longer be business as usual as when you are caught and properly investigated, the law will take its cause. This rate of corruption cannot be condoled in countries like China, Indonesia and even India.
Dukor wrote from Port Harcourt.
Pius Dukor
Opinion
Professor Kamene Okonjo: A Life Beyond Motherhood
Quote “Professor Kamene Okonjo
Some women leave behind more t
Yet, to remember Professor Kam
Professor Okonjo was the belov
one of the most dramatic chapt
On December 14, 2012, the then
She leaves behind children, gr
Professor Kamene Okonjo deserv
By: Sylvia ThankGod-Amadi
Opinion
On Ancestrial Worship: My Take
Quote: An African who invokes
This is the concluding part
… Given the fact that I was
At the end of the visit by the
Back to my apartment, at abo
Under normal circumstances, yo
That all she asks is that Chie
For some reason that I do not
I believe that everyone in hu
Our ancestors have not gone fa
By: Jason Osai
Opinion
FG’s Transport Support And Rivers Workers
The Federal Government’s approval of a N70,000 monthly transport intervention for public service workers for six months, beginning in November 2026, offers hope to employees struggling with the rising cost of living. The agreement with the Nigeria Labour Congress (NLC), reached at a conciliation meeting in Abuja on October 27, is intended to cushion transport costs and ease pressure on workers’ incomes. But for public servants in Rivers State, it raises a familiar question: will the State Government key into the intervention and ensure that its workers benefit? The agreement provides for N70,000 monthly across all levels, for six months. The Federal Government also approved peculiar allowance arrears effective from May 1, 2026, to be paid in three equal instalments beginning in November.
The parties agreed to reconvene after one month to assess implementation. Ultimately, the value of these resolutions will be measured not by announcements but by whether eligible workers receive the money. Transport costs consume a substantial share of many civil servants’ earnings before they can meet household needs. Support for commuting is therefore not a luxury or political favour; it is temporary assistance to help workers remain at their jobs without sinking further into hardship. For lower-paid employees, transport costs can turn modest salaries into a daily exercise in difficult choices and sacrifice.
The agreement also urges State and Local Governments to participate and unions to press for implementation. The federal agreement does not automatically guarantee that every State and Local Government employee will receive the support. State authorities must clarify how it will apply to their workforce, make the necessary arrangements and publish a payment timetable. Rivers State must approach the arrangement with urgency and transparency. The Government should State whether it will implement the intervention and when payments will begin. Any administrative or financial question should be addressed promptly with organised labour, not allowed to become excuses for delay.
The concern is sharpened by the earlier N35,000 monthly wage award introduced by the Federal Government in 2023 after petrol subsidy removal. It was intended as temporary relief pending a new national minimum wage. While several States negotiated and paid wage awards or related sums, implementation nationwide was uneven. Reports in 2024 indicated that many States had failed to pay the federal award, while others provided different amounts. In Rivers, labour and media reports raised concerns about implementation of the N35,000 award for State workers, amid separate announcements and arrangements concerning Local Government employees.
The wage award was meant to ease the immediate effects of subsidy removal, yet workers faced uncertainty over whether the promised relief would reach them. In February 2024, the Rivers State Government announced approval of the N35,000 award for local government workers, but subsequent reports showed that implementation across worker categories remained a concern. The lesson is clear: approval and implementation are not the same. A declaration at a meeting offers little comfort to a worker whose account does not reflect the promised payment. For workers who travel to their offices daily, the implications of delayed support are significant. Transportation expenses compete with food, rent, school fees, healthcare and other essential household needs.
As fares rise, employees may be forced to reduce spending on necessities or borrow to sustain their families. A timely transport intervention would therefore provide practical relief and demonstrate that government understands the economic pressures confronting its workforce. Its temporary nature makes prompt implementation even more important. It is fair to acknowledge that this transport intervention is a new agreement and that its administrative details may require clarification. Rivers State should not be condemned in advance for a failure that has not occurred. Nevertheless, the earlier experience gives workers legitimate grounds to seek assurances before the November commencement date. The State should avoid allowing uncertainty to persist until workers begin asking why the promised assistance has not arrived.
The NLC and unions in Rivers State should engage the State Government immediately and seek a written commitment, an implementation plan and a process for reporting missed payments. If clarification from the Federal Government is needed, the State should seek it without abandoning the goal of providing relief. Labour leaders must also keep members informed about progress and insist that any agreed arrangements are applied fairly and transparently. The Rivers State Government should treat this intervention as an opportunity to rebuild confidence. Timely support would show that workers’ welfare is more than a talking point and that the State recognises the economic realities confronting its employees.
Silence, delay or selective implementation, by contrast, would revive frustration over earlier relief measures and weaken trust between government and labour. Every month lost to administrative delay leaves workers facing the same transport burden without the intended assistance. The State should consult labour, publish arrangements and pay eligible workers on time. Rivers workers should not have to wonder whether federal relief will reach them. The Federal Government has announced the support; now the State must make its position clear. We hope the N70,000 monthly transport intervention will not follow the troubling path of the earlier wage award. Rivers State should learn from that experience and ensure that this time, relief is not merely promised but delivered.
Sylvia ThankGod-Amadi
-
Rivers1 day ago
NUJ Set To Attend UNIPORT’s 217th Inaugural Lecture
-
News1 day agoNJC Suspends Three Judges, Sanctions Eight Others
-
Politics1 day ago
Atiku Kicks-Off 2027 Campaign, Promises To Tackle Nigeria’s Challenges
-
Featured1 day agoAPC Presidential Campaign Storms PH, ‘Morrow
-
News1 day ago
FG Explains Supply Disruption As Power Generation Drops To 3,659MW
-
Metro1 day ago
Port Harcourt Prepares For 10,000 Runners As International Marathon Returns
-
Politics1 day ago
APC Chieftain Canvasses Support For Tinubu Rally In Port Harcourt
-
News1 day agoBille Gas Leak: Coalition Tasks FG On Proactive Measures
