By David Lawani, Nathaniel Zacchaeus, and Linus Aleke
Some Nigerians have reacted to the revelation by the newly appointed Chairman of the Economic and Financial Crimes Commission, Mr Ola Olukoyede, who said N2.9trn was squandered within three years during the administration of President Muhammadu Buhari.
Olukoyede, who appeared before the Senate for a confirmation screening exercise last week said the money was looted between 2018 and 2020 under dubious contracts and procurement activities.
The EFCC Chairman said, “I surveyed between 2018 and 2020 on 50 entities in Nigeria. Both human and corporate entities. I picked just one scheme, one species of fraud, which is called contract and procurement fraud. I discovered that within the three years, Nigeria lost N2.9trn.
“When I put my figures together, I discovered that. If the country had prevented the money from being stolen, it would have given us 1000 kilometres of road, it would have built close to 200 standard tertiary institutions. It would have also educated about 6,000 children from primary to tertiary levels at N16m per child.
“It would have also delivered more than 20,000 units of three-bedroom houses across the country. It would have given us a world-class teaching hospital in each of the 36 states of the country and the Federal Capital Territory.
“This is where we are coming from, this is where we are. Where we are going, depends on the decision the Senate would take this afternoon.
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Eminent Nigerians who spoke with ThisNigeria on the issue yesterday urged President Bola Tinubu to direct the EFCC boss to probe his findings and bring the culprit to book.
An Abuja-based lawyer, Paul Omoluabi, said if confirmed those fingered in the alleged diversion of N2.9trn under former President Buhari should be made to face the full wrath of the law.
Omoluabi said since the information was coming from the newly confirmed Chairman of the EFCC, there was every need for the claims to be thoroughly investigated and action taken to forestall leakages in the government purse.
He said, “If it is confirmed that the new Chairman of EFCC, then, it is expected that they commence a proper investigation and send a formal invitation to those involved in allegedly diverting our commonwealth.
“The statement will remain an allegation until the institution takes proper steps to investigate and prosecute those involved in this very disturbing development.
“Our courts can only act until the law is set in motion by commencing proper criminal trial and verifiable, cogent, and compelling evidence that enables the prosecutor to prove the allegation beyond reasonable doubt. It is indeed the duty of whoever alleges to prove beyond a reasonable doubt.
“It is pertinent the new boss of EFCC focus on his statutory duty and avoid those who may want to make this allegation a social media trial. Nigeria and Nigerians are tired of mere allegations and no concrete evidence to prosecute anyone who is found to be involved in any financial crimes.”
Similarly, a Community Development Leader/Public Affairs Analyst, Chief Nimbe Bello, said for the EFCC chairman to have made such an allegation, then it will require diligent investigation so that whoever is culpable will be made to answer questions.
He noted, “If the Chairman of EFCC made such an allegation, it would be a serious matter, and it would likely require a thorough investigation to verify the accuracy of the claim. Allegations of financial impropriety or corruption should be handled through established legal and investigative processes to ensure due process and transparency.
“It is important for the relevant authorities to conduct a proper investigation and gather evidence to either substantiate or refute these allegations. Public transparency and accountability in such cases are essential to maintaining trust in government institutions.”
A Research Professor of International Relations and Strategic Studies at the Nigerian Institute of International Affairs (NIIA), Lagos, Prof Femi Otubanjo, said he was saddened by the revelation, made by the new Chairman of EFCC, Olukoyede, during his screening at the floor of the Nigerian Senate.
Otubanjo, who expressed this sadness in a telephone chat with ThisNigeria, also noted that it was not surprising N2.9trn was diverted to private pockets in contract awards in two years.
The Political Science scholar said, “I am sure that more than half of our national wealth has been stolen over the years, not just this two years under focus. Every government in Nigeria, since its inception, has been a government of corruption and robbery.
“There is no government that can boast of a clean bill in Nigeria. It was, however, less during the first Republic. Our national patrimony was not stolen in this proportion during the first Republic. When there is corruption, and the officials are stealing 20 to 30 percent of the patrimony, it is reasonable but since the military came into power, we pandered towards corruption and every regime after that has become worse than the previous”.
He said that if we are to be a country of law, all our former presidents and governors ought to be in jail, stressing that that “is the reality and we need to tell ourselves the truth about it”.
Otubanjo averred that those who diverted these funds are still alive and enjoying these stolen resources and are living luxurious lives like billionaires.
“It is a hopeless situation, what is the new EFCC Chairman going to do about it? We have to ask him pointedly, what if the President asks him not to probe those involved in the graft,” he queried.
Tasking the new Chairman not to pontificate for Nigerians about the past, Otubanjo, said Nigerians were more interested in how he was going to prevent future occurrence.
Also, the Head of the Department of Political Science, Benue State University, Makurdi, Dr Atah Pine, expressed optimism that the diverted funds could still be recovered by the anti-graft agency if the proper thing is done.
He, however, noted that the only problem the anti-graft agencies are facing is the nation’s jurisprudence.
He said that the justice system does not give room for quick dispensation of justice.
According to him, “The justice administration system, especially as it has to do with recovery of looted funds must be reviewed to make it faster and more efficient.
Nigeria is practicing democracy, so, even if we say that someone stole N10m and we know that he stole that amount, it must be fully established. It is a procedural issue, if we arrest someone for N10m, the case can drag on for ten years.
“Take the case of Peter Odili for example, the Court of Appeal issued a perpetual injunction, for him not to be investigated. Assuming it is Odili that diverted that money, what will EFCC do? A perpetual injunction not to probe a man who was a governor for eight years and even contested to be the president of Nigeria.
Our jurisprudence especially in the area of graft and financial impropriety needs to be rejigged so that prosecution can be fast-tracked.”
