Betterland Forum

Welcome to Betterland Forum.
Betterland Forum
The Number 1 online news and
informations forum where you get latest news,
gists, gossips and informations plus hot and
trending life/status changing articles.
Betterland Forum produces hot and latest
informations and news across the world but
targeted at Nigerians (home and abroad)
Click this link to how to contact us.
www.betterland.forumotion.com/t73-contact-us
Click this link to know how to advertise with us.
www.betterland.forumotion.com/t72-advertise-with-us

Betterland Forum

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Betterland Forum

A forum for all forumites, bloggers, webmasters, comedians and so on plus the general audience to discuss and share happenings from their respective nation

Quote of the day


No matter how high a man flies he will still land back.....
____________
The Admin
Betterland Forum

    Now That We Have New Free Money

    Kingseyi
    Kingseyi
    Expert
    Expert


    Posts : 326
    Points : 12013
    Reputation : 10
    Join date : 2018-05-16
    Age : 25
    Location : Ifo, Ogun State.

    money - Now That We Have New Free Money Empty Now That We Have New Free Money

    Post by Kingseyi Sun May 20, 2018 9:51 am

    Sonala Olumhense
    On Wednesday , the United Nations General Assembly will
    hold a high -level debate to mark the 15 th anniversary of its
    adoption of the United Nations Convention Against
    Corruption ( UNCAC).
    It was on the morning of 15 September 2002 that Nigerian
    leader Olusegun Obasanjo bellied up to the microphone at
    that year ’ s General Assembly debate and called for an
    international treaty to fight corruption.
    “ Efforts to establish a convention against corruption need to
    be expedited so that we can have global action against
    corruption, ” he said .
    The UN adopted UNCAC the following year. On the home
    front , President Obasanjo worked to establish the Economic
    and Financial Crimes Commission ( EFCC) in 2004.
    But despite this week ’ s commemoration, perhaps no further
    proof is required to demonstrate the ironies on the anti -
    corruption front than Nigeria where , right after Obasanjo
    set up the EFCC, it soon became common knowledge he saw
    combating corruption as an opportunity to wreak havoc on
    his political enemies .
    The fallout of that perfidy is largely what Nigeria is
    suffering today: the same suffering he is denouncing in the
    country ’ s current leader , but with no apologies to the
    people.
    Nigerians are a forgetful people, but in 2006— remember ? —
    Obasanjo set up an anti-corruption Joint Task Force which
    included the ICPC , the Code of Conduct Bureau , the
    Department of State Services , the police and the EFCC.
    Reporting , that panel indicted 15 state governors, affirming
    they had breached the code of conduct , and recommended
    their prosecution.
    Among them were one Mr. Goodluck Jonathan , who was
    specifically found guilty of several counts of false
    declaration of assets.
    Heck No !, responded “ anti-corruption ” champion Obasanjo
    in effect, as he single-handedly nominated Jonathan for
    Vice -President in the 2007 election . In that era, such
    passage was the equivalent of an appointment, and a few
    years later , Jonathan became President .
    That was after Obasanjo had failed to manipulate the nation
    to grant him a third term as president , and it is also
    common knowledge that he tried to use public funds to buy
    it .
    A key
    aspect of
    Nigeria ’ s
    corruption
    story is
    asset -
    recovery ,
    which most
    governments have mistaken for Sani Abacha asset recovery.
    This is a sensitive subject. Obasanjo was motivated largely
    by his relationship with Abacha , who had thrown him into
    jail . Other powerful Nigerians such as Ibrahim Babangida ,
    Abdulsalami Abubakar, and current President , Muhammadu
    Buhari publicly swore that Abacha had not looted .
    By accepting returned Abacha funds , however, Buhari
    implicitly confirms that his friend was a kleptocrat .
    Which leaves two questions. The first is whether Buhari
    will now account for the returned loot since 1999, as
    demanded by the courts . I continue to point out that he
    cannot claim to be doing the right thing by protecting the
    looters , which is what his disobedience of the courts
    represents .
    The other is whether he can spend the $322 .5m now
    received from Switzerland transparently .
    Owing to international concern that the funds will vanish
    once in the hands of Nigerian government officials , the
    Swiss imposed conditions , using grandiose terms such as
    “ the framework of a project supported and overseen by the
    World Bank , ” and strengthening “ social security for the
    poorest” Nigerians .
    “ The agreement also regulates the disbursement of
    restituted funds in tranches and sets out concrete measures
    to be taken in the event of misuse or corruption, ” it noted
    in a statement loaded with embarrassment and irony. It
    added: “ The restitution of these funds makes a concrete
    contribution to the implementation of the 2030 Agenda for
    Sustainable Development and can set a good example
    internationally for future restitution cases .”
    This is because the entire world observed how Nigeria failed
    to make appreciable implementation of the MDGs despite the
    availability of funds , and fears for the SDGs.
    Appearing to concede the point , President Buhari said last
    week his government would indeed spend the money on the
    Conditional Cash Transfer programme . In a speech read in
    Abuja by Vice President Yemi Osinbajo at the 8th
    Commonwealth Conference of Anti- Corruption Agencies in
    Africa, the Nigeria leader noted that it was indeed one of
    the conditions given for the repatriation by Switzerland .
    He however restated an argument Nigeria has already lost
    but which is expected to feature in this week ’ s debate : that
    such recovered assets be returned to the country of origin
    without any preconditions, citing Article 51 of UNCAC .
    In what appeared to be a pledge of good behaviour , Buhari
    said states should agree to apply the highest standards
    possible of transparency , including in the management and
    disposal of recovered and repatriated assets.
    But that is the absurdity. In effect , his argument is that
    states should agree that stolen funds — having been
    recovered and returned to them — should not be re -looted
    ( and nobody should ask !)
    Only in Nigeria .
    But think about it : If you count the $322.5 m that
    Switzerland has just returned , Nigeria has now received
    from that country alone over $1.4bn ( $700m confirmed by
    Swiss Ambassador Hans -Rudolf Hodel in Abuja in December
    2012; and $380 m in March 2014 ).
    But remember also that, among others, in March 2007 ,
    Finance Minister Nenadi Usman explained that the $2 .5
    billion recovered was given to five ministries to implement
    50 projects .
    There is no sign of any of these funds , and “ action ” Buhari
    lacks the courage to publish any government records.
    Given how impotent Nigeria has become at the UN , I do not
    know if she will speak on Wednesday . There is ample room
    to brag about how the government is fighting corruption
    with poise and prose, but that corruption is fighting back
    with AK -47s .
    The truth is that the current Nigerian government is its own
    worst enemy . As much as it might protest , its poor
    international image is the result of its hypocrisies . It is
    instructive that the Swiss trust Buhari no more than they
    trusted Jonathan .
    Speaking of Jonathan , let us recall that in June 2014 ,
    Liechtenstein repatriated $227 m in recovered Abacha
    funds . Minister of Finance Ngozi Okonjo- Iweala,
    confronting popular cynicism , explained that Mr. Jonathan
    would set -up an inter-ministerial committee “ to ensure the
    proper utilisation of the funds .”
    I wrote in this column on July 6: “ I predict that three years
    from now…no project worth the name , let alone the money ,
    will be completed, and that nobody will account for their
    role in the disappearance of the money .”
    Anyone who knows the location of that “ proper utilisation ”
    is encouraged to speak up now, including in this column.
    Back to the present, Nigeria has agreed to spend the latest
    $322. 5m in the Conditional Grants Scheme (CGS ).
    Apparently , this soothes the heart of the international
    community . But it knows little of Nigeria ’ s ethical swamps
    and valleys . Remember, the CGS is the same swamp into
    which at least $1bn in MDGs funds has been thrown
    annually for 12 years.
    My point is that there is no external way forward for
    Nigeria until the National Assembly agrees to transform the
    anti -corruption cat into a lion by agreeing to fund the
    agencies as a first -line charge in the budget , thereby freeing
    it from the propaganda and games of the executive branch
    ( and the legislative ) .
    But who will bell the— excuse me — cat?

      Current date/time is Fri Apr 19, 2024 3:48 pm