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Military Wasted $400billion in 40 years –EFCC boss

Posted by By Chika Otuchikere, Abuja on 2005/05/18 | Views: 797 |

Military Wasted $400billion in 40 years –EFCC boss


A whopping $400 billion was squandered by successive military governments in Nigeria in 40 years, chairman of the Economic and Financial and Crime Commission (EFCC), Mr. Nuhu Ribadu said on Tuesday.

A whopping $400 billion was squandered by successive military governments in Nigeria in 40 years, chairman of the Economic and Financial and Crime Commission (EFCC), Mr. Nuhu Ribadu said on Tuesday.

Speaking at the signing of an agreement to provide $32million worth of assistance to EFCC by the United Nations Office on Drugs and Crime, Ribadu said that Nigeria became a very corrupt country because past military administrations refused to use the country’s resources for its development.

He said that Nigerian people were capable of producing a very strong and corrupt free society but that their efforts in doing so were greatly undermined by failure of government to put in place an efficient infrastructural system.

Ribadu who was very emotional while making his comments, pointed out that once resources were committed to the projects that will assist the people, corruption would be reduced.

He said, "Corruption in Nigeria is 100 % of our inability to solve our problems by ourselves.
"We are tired of giving ourselves bad name. "Government must deliver on its promises. "The moment we start doing things correctly, injustice will be reduced, and corruption will reduce. "We need a leadership that is bold, strong and courageous.

He said that the present administration had shown some political will to confront the problem.
Earlier, Executive Director of UNODC, Mr. Antonio Maria Costa who was on an official visit to Nigeria, had said that the world was impressed by the reforms initiated by the President Olusegun Obasanjo’s administration.

He said, "Before now, it was very difficult to raise fund to finance any project in Nigeria. Donors were unwilling to commit their resources to Nigeria.
"But now the situation is changing. It has become a lot easier to raise fund to finance project in Nigeria.
"The implication is that the world is watching the effort being made by Nigeria to fight drugs, corruption and other social vices.

"The best we can do at the United Nations is to support these national initiatives. "You are sending the right signals to the world."
The Minister of Justice and Attorney General of the Federation, Mr Akin Olujimi in his welcome address asked the United Nations to help persuade signatories to the Convention on the Trans-national Organised Crime.

He said that a faithful implementation of the Convention would hasten the repatriation of the proceeds of graft to the developing economies. UNODC is supporting EFCC with assistance worth $32million. According to UNODC’s country representative in Nigeria, Mr. Paul Silas the assistance will focus on four main objectives.

The first is to enhance EFCC’s operations by providing equipment for the commission’s
headquarters and its intelligence unit. Secondly, UNODC will enhance the capacity of
EFCC’s staff through manpower development and provision of expertise. Thirdly, UNODC will help to create awareness for the programmes of EFCC.

Lastly, the fund will also be used to promote judicial integrity.
Already, ten states have been identified as areas with high tendency for financial crimes.
The states are Lagos, Delta, Borno, Katsina, Anambra, Cross River, Enugu, Kano, Port Harcourt and the Federal Capital Territory.

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Fay(Katy, Texas, US)says...

Actually translates to bravehearted.