Corruption is Nigeria’s greatest problem – Magu

The acting Chairman of the Economic and Financial Crimes Commission, Mr Ibrahim Magu, has said Nigeria’s greatest problem is corruption.

According to him, the gross underdevelopment in Nigeria and the entire African continent is rooted in corruption.

Magu pointed out that the resources that should have been used for public good were being cornered by a few individuals, thereby making life difficult for the majority of the people.

The EFCC helmsman said this on Thursday in a speech delivered on his behalf in Lagos to set the tone for the 2019 African Union Anti-Corruption Day Road Walk.

The road walk was with the theme, “Towards a common African position on asset recovery.”

Magu noted that the high-level panel on Illicit Financial Flows had estimated that the African continent was losing over $50bn yearly through illicit financial outflows.

This, he pointed out, was why the continent had remained largely underdeveloped.

“It is a settled fact that corruption remains Nigeria’s greatest problem; and by extension the entire Africa continent.

“The resources that should have delivered the good life to the majority of our people have been cornered by the privileged few, leaving the entire nation underdeveloped.

“All hands must be on deck in response to the clarion call from across the world to defeat corruption. We must all demand the culture of integrity and accountability to win the fight against corruption,” he said.

He called for stronger international collaboration among anti-graft agencies on the African continent to better facilitate the recovery of looted assets.

The President, Women Arise, Dr Joe Okei-Odumakin, hailed the AU for dedication a day to the campaign against corruption on the African continent.

She said it was a commendable step because with more than $50bn taking flight from the continent as a result of corruption, “Africa is bleeding.”

“The poorest people we can find in this world are from Africa.

“Instead of us putting the feet of our youths on the pedestal of prosperity, they are being put on the pedestal of corruption. Hunger, war and terrorism are as a result of corruption. But we must all ensure that we keep our children alive,” Okei-Odumakin said.

(Punch)