The Nigeria Labour Congress (NLC) has asked the federal government to utilize the funds recovered from looters of public assets on rehabilitation of critical infrastructure to stimulate the country’s economy.
The federal government on Saturday partially fulfilled its promise to publish specific details of funds traced to and recovered from corrupt former government officials.
Although the names of the officials from whom the funds were recovered were not disclosed, details of the recoveries between May 29, 2015 and May 25, 2016 showed total cash at about N78.33 billion, $185.22 million, £3.51 million and €11,250, while recoveries under interim forfeiture, including cash and assets were N126.56 billion, $9.1 billion, £2.5 million and €303,399.17.
The report said anticipated repatriation from foreign countries totalled $32132 million, £6.9 million and €11,826.11.
But beyond the significance of the recovery on the fight against corruption, the NLC President, Ayuba Wabba, said focus should be on the bigger picture by ensuring that these monies were spent on construction of roads, development of power infrastructure, key industries and other sectors capable of stimulating the economy.
Hailing the recovery as a good start, Mr. Wabba commended the federal government for rendering a transparent account of the proceeds, noting that the “quantum of these recoveries vindicated our unqualified support for the fight against corruption and our insistence that more stringent punishment be prescribed for corruption cases.”
He said the recoveries exposed the extent of the rot in the system and why virtually everything in the polity failed to work.
In spite of challenges, the NLC president urged the government not to relent in its recovery drive and its general fight against corruption, saying available information suggested the recovered funds so far were just the beginning of the revelations to come.
He said the NLC was convinced of the importance of the fight against corruption, saying its members would not want to continue being the laughing stock of the rest of the world as a result of corruption.
The growing population of unemployed Nigerian youth who look up to the country for their means of livelihood would not fold their hands, while a few privileged individuals cornered the national resources.
“We believe for the war against corruption to endure. As a people, we must be firm and resolute in our support for good governance and fight against corruption. We must entrench the culture of accountability, ensuring that public officers are accountable even out of office,” he said.
To strengthen the capacity of the anti-corruption agencies, the NLC called for the establishment of special courts to try corruption cases, with the judiciary allowed to play its role by ensuring timely and speedy disposal of such cases.
Support PREMIUM TIMES' journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
TEXT AD: To advertise here . Call Willie +2347088095401...