Obasanjo Highlights Corruption’s Role in Worsening Poverty in Nigeria

Former President Olusegun Obasanjo spoke out on Monday about how corruption in Nigeria is making poor people even poorer. He made these comments during the launch of a book titled “Unexplained Wealth: A trilogy of Nigerian Financial Law,” written by Dr. Wahab Shittu.

Obasanjo emphasized that corruption is a major threat to development, stating that it harms society and prevents progress. He expressed concern that the poorest people suffer the most in a corrupt system, becoming even more impoverished. He noted that without addressing corruption, Nigeria cannot expect to make significant advancements.

During the event, Obasanjo highlighted his past efforts to combat corruption, including the creation of agencies like the Independent Corrupt Practices and Other Related Offences Commission and the Economic and Financial Crimes Commission.

The Emir of Kano, Muhammadu Sanusi II, also spoke at the event. He called for legal reforms to address unexplained wealth and stressed the need for political and judicial changes. Sanusi pointed out that laws must be applied fairly to everyone, regardless of their political connections.

Former Vice President Yemi Osinbajo, represented by Ade Ipaye, emphasized the importance of a fair system for recovering stolen assets without penalizing those who have earned their wealth legally. He argued that Nigeria needs a clear and just approach to asset recovery.

Professor Olanrewaju Fagbohun, who reviewed the book, mentioned that a lack of proper documentation should not automatically indicate wrongdoing. Dr. Shittu explained that the book aims to help differentiate between legitimate wealth and wealth gained through illegal means. He warned that without proper records, society risks mistrusting everyone while failing to prove any wrongdoing.