Corruption - Tears of My People
Here is a preview of an article on SaharaReporters.com HERE which I think it's a must read!
Open the news pages of Nigerian dailies or world news about Nigeria, only very few things would make one smile. Beautiful and handsome but sad faces roam the streets. Unemployment rate may run as high as 70 percent and very high inflation rate makes the case worse.
There are conflicting reports on the value of income accruing to the nation that was stashed away in foreign banks by Nigerian leaders. President Obasanjo was quoted in 2002 as putting the total
Amount of money stolen by African leaders at $104 billion (BBC Online of 6/13/02 HERE). In an article published by BusinessDay, written by Wale Haastrup the total amount looted by Nigerian leaders was put at $20 trillion (refer to HERE and HERE). The chairman of Economic and Financial Crimes Commission (EFCC), Nuhu Ribadu was quoted by BBC as putting the loot by Nigerian leaders since independence at over $380 billion (BBC Online of 10/20/06 HERE). It is not certain the value of Nigerian leaders’ loot, but one thing that is obvious is that it is enormous.
High number of elected and government officials seem to be misappropriating and siphoning money. Alhaji Ibrahim Hassan, the Accountant- General of Nigeria at the National 5th Seminar on Economic and Financial Crimes spoke on how public servants loot the treasury(refer to HERE).
Widespread poverty accounts for the bourgeoning rate of crime in the country, which is being exported overseas through Internet or mail scams, popularly known as 419.
Here is a clear example of widespread looting in our national treasury! Let us hear your comments on this!
Open the news pages of Nigerian dailies or world news about Nigeria, only very few things would make one smile. Beautiful and handsome but sad faces roam the streets. Unemployment rate may run as high as 70 percent and very high inflation rate makes the case worse.
There are conflicting reports on the value of income accruing to the nation that was stashed away in foreign banks by Nigerian leaders. President Obasanjo was quoted in 2002 as putting the total
Amount of money stolen by African leaders at $104 billion (BBC Online of 6/13/02 HERE). In an article published by BusinessDay, written by Wale Haastrup the total amount looted by Nigerian leaders was put at $20 trillion (refer to HERE and HERE). The chairman of Economic and Financial Crimes Commission (EFCC), Nuhu Ribadu was quoted by BBC as putting the loot by Nigerian leaders since independence at over $380 billion (BBC Online of 10/20/06 HERE). It is not certain the value of Nigerian leaders’ loot, but one thing that is obvious is that it is enormous.
High number of elected and government officials seem to be misappropriating and siphoning money. Alhaji Ibrahim Hassan, the Accountant- General of Nigeria at the National 5th Seminar on Economic and Financial Crimes spoke on how public servants loot the treasury(refer to HERE).
Widespread poverty accounts for the bourgeoning rate of crime in the country, which is being exported overseas through Internet or mail scams, popularly known as 419.
Here is a clear example of widespread looting in our national treasury! Let us hear your comments on this!