Nigeria Lost $400bn to Corruption in 33 Years, Says Ministry Official

Date: 01-03-2013 7:50 am (11 years ago) | Author: Direct
- at 1-03-2013 07:50 AM (11 years ago)
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The Deputy Director in charge of Reforms in the Ministry of Petroleum Resources, Mr. John Magbadelo, Thursday stated that Nigeria had lost over $400 billion to corruption between 1966 and 1999.

Magbadelo, who was the reviewer of the book titled: ‘Anti-Corruption Campaign in Nigeria (1999-2007): The Politics of a Failed Reform,’ authored by a lecturer at the University of Ibadan, Mr. David Enweremadu, made the disclosure at the launch of the book in Abuja.
While blaming the inability of the country to make meaningful progress in its several endeavours, he said: “It is at the very heart of our country’s failings in every sphere since its emancipation from colonial rule.

“The cancerous rot which has continued to impair the growth potentials of the country seems to have defied every therapy.”

In his remarks, the Head of the Civil Service of the Federation (HoCS), Mr. Isa Sali, who was represented by a Director in his office, Mr. Ibrahim Nikau, while underscoring the timeliness of the book, said: “This book launch could not have come at a more auspicious time than now and more importantly with the fact that it is in line with the transformation agenda of the Federal Government which he said is aimed at stemming the tide of corruption in the country.”

Sali however, regreted that despite all the efforts of government at curbing corruption, it still remains a cankerworm, adding that for the fight against corruption and vision 2020 to be realised, it must be embraced by all.

He said: “As civil servants, we are strategic in the fight against this menace plaguing every strata of our society. “The HoCS therefore, has collaboration with ICPC to establish Anti-Corruption and Transparency Units (ACTU) in Ministries, Departments and Agencies (MDAs).”

Asked on what motivated him into writing the book, Enweremadu said: “As at the time when I was rounding off up my National Youth Service assignment, which also coincided with the death of the then Head of State, General Sani Abacha, the rampart news of recovery of stolen money from government purse by government officials overwhelmed me.”

According to him, it was that experience that propelled him into researching  the real causes of corruption and the anti-corruption activities of government and those of the international community.

Enweremadu said corruption had been the major challenge to the country’s development, adding that the resources the nation has lost to corruption is not a cooked figure as it was the aftermath of a thorough investigation carried out by international organisations.

He said: “The $400 billion is even a conservative figure of the quantum of money stolen out of the country by both government and private individuals.”

Posted: at 1-03-2013 07:50 AM (11 years ago) | Hero

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