Nigeria Cannot Develop While Corruption Thrives — Obasanjo
Former President Olusegun Obasanjo has described corruption as a major threat to Nigeria’s development, warning that its effects are disproportionately felt by poor and vulnerable citizens. Obasanjo spoke on Monday in Lagos while chairing the public presentation of Unexplained Wealth: A Trilogy of Nigerian Financial Law, a three-volume work by Senior Advocate of Nigeria, Dr Wahab Shittu. Describing corruption as “development’s greatest, deadly peril” and unexplained wealth as “anti-social, anti-development and anti-progress,” the former president called for stronger institutions and effective accountability for those who divert public resources. He said, “Those who suffer most in the corrupt society are the poor. And it makes them poorer.” Obasanjo recalled efforts during his administration to strengthen Nigeria’s anti-corruption framework through institutions including the Independent Corrupt Practices and Other Related Offences Commission and the Economic and Financial Crimes Commission. Also speaking, the Emir of Kano, Muhammadu Sanusi II, said legal reforms targeting unexplained wealth would have limited impact without corresponding political and judicial reforms. Sanusi warned that anti-corruption laws must be enforced impartially, noting that political protection could shield some individuals from scrutiny while others could face action because of their political affiliations.
Representing former Vice President Yemi Osinbajo, his former Chief of Staff, Ade Ipaye, said Nigeria needed a transparent and constitutionally sound framework for recovering suspected stolen assets without infringing on lawfully acquired property. In a message delivered at the event, Osinbajo said the priority should be a system capable of recovering stolen assets while protecting legitimate wealth. The book reviewer, Professor Olanrewaju Fagbohun, SAN, cautioned against treating the absence of conventional documentation as conclusive proof that wealth was illegally acquired, particularly given Nigeria’s informal economy. Shittu, the author, said the publication sought to contribute to a legal and institutional framework for distinguishing legitimate wealth from illicit enrichment. He stressed that becoming wealthy was not an offence, but acquiring wealth through dubious means was criminal. Shittu also emphasised the importance of reliable financial records, warning that without credible documentation and an effective legal framework, anti-corruption enforcement could result in suspicion without sufficient proof of wrongdoing.
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