National
Fund meant to fix Nigeria is being stolen on daily basis, says Owasanoye
Pervasive systemic corruption in the country has paved way for Money needed to fix Nigeria to be stolen on daily basis, Chairman of the Independent Corrupt Practices and other Related Offences Commission ( ICPC), Professor Bolaji Owasanoye has indicated.
Owasanoye stated this in Abuja as Guest Speaker at the 2 – day Capacity – Building Workshop organized for members of the House of Representatives Committee on Anti – Corruption and Military Officers, by the National Institute for Legislative and Democratic Studies ( NILDS)
He said on electronic transactions alone, N24trillion has been transacted between January to June this year , which is always about N50trillion yearly.
Corruption in Nigeria according to him, is highly systemic as it is being perpetrated in most of the government owned agencies, particularly the revenue generating ones.
He disclosed that the ICPC intercepted N181million about being diverted or stolen by corrupt public officers between January and June this year from 19 of such agencies, saying “we are not in short supply of anti – corruption legislations but grossly in short supply of integrity “.
“If not for lack of integrity from affected public officers , Nigeria has enough anti – corruption agencies or institutions to stem the tide of systemic corruption.
“Aside ICPC and the Economic and Financial Crimes Commission ( EFCC) , public institutions like the Bureau for Public Procurement ( BPP), the Central Bank of Nigeria ( CBN) and 45 others are anti – corruption regulatory bodies .
“The CBN is an anti corruption gatekeeper, the Infrastructure Concession and Regulatory Commission, (ICRC) is an anti corruption gatekeeper…I could go on, many of them like that, if you aggregate them, you would get like about 50.
“Most regulatory bodies also play anti corruption role. Virtually, all professions are regulated…and every unethical practice that is carried out by these professionals is already prohibited by their rules, so we are not in short supply of anti corruption institutions but what we are in short supply of, is integrity. We have a generous supply of hypocrisy, and we also deceive ourselves.
“But despite the required legislations or laws to fight the cankerworm, lack of integrity and political will from those saddled with running of the agencies , make corruption to be so pervasive in the country .
” Unfortunately since corruption erodes capacity of state or government , to provide welfare for the people , is also fueling and aggravating insecurity in the land .
“If corruption is fought to standstill by all relevant agencies and public officers , it will be discovered that the money to fix Nigeria , is in Nigeria and not elsewhere because N24trillion was spent on monitored electronic transactions alone among Nigerians within Nigerians from January to June this year, which runs to about N50trillion yearly”, he said .
He further pointed out that corruption is an existential issue for Nigeria as a country adding that the country needs to have conversation around it.
According to him, factors like weak legislative oversights by relevant committees of the National Assembly, contracts variations and duplications by MDAs, tax avoidance , evasion and underserved waivers etc , are the channels through which corrupt practices are carried out in Nigeria
He also blamed his colleagues in the legal profession, who at times would be acting for clients against the Commission, who are serving public servants involved in corrupt practices of using public funds for execution of projects through companies they have interests in, as according to him, it is illegal for such clients to be involved in such businesses at that time, and also ethically wrong for them to award such contracts to companies where they have interests, adding that such ethical breaches ought to be dealt with properly.
In his remarks, Chairman of the House Committee on Corruption, Hon. Shehu Garba said corruption usually denies a nation of the needed development, and making good plans for the future, adding that fighting the menace cannot be effective without collaboration.
The Chief of Defence Staff , General Lucky Irabor , represented by Major – General A. A . Adesope said there is a serious link between corruption , insecurity and instability .
He said the theme of the Workshop ” Corruption : A threat to Security in Nigeria ” , is very apt at this time that the country and in particular , the military and other security agencies are taking the fight to those perpetrating various crimes and criminalities across the country .
“Corruption engenders insecurity and instability in the country and must be fought by all and sundry “, he said .
In his own remarks , the Director – General of NILDS, Professor Abubakar Sulaiman said the workshop was organized for members of the House Committee on Anti – Corruption and military officers as a way of bringing to the front burner , the need for required collaboration in the war against corruption by all relevant stakeholders .
National
Senator Natasha Calls for Economic, Cultural Renaissance in Northern Nigeria
The Senator representing Kogi Central in the National Assembly, Natasha Akpoti-Uduaghan has called for a rebirth of Northern Nigeria’s economy and cultural identity, urging the region to reclaim its historical standing as a center of agricultural and industrial prosperity. Speaking at the Sardauna Memorial Day in Kaduna, the senator emphasized the urgent need to revitalize the region’s economic output, which has sharply declined in recent decades.
Senator Akpoti-Uduaghan evoked the legacy of the Sardauna of Sokoto, Ahmadu Bello, whose leadership policies fostered economic growth and industrialization across Northern Nigeria in the mid-20th century.
She stressed that the once-thriving agricultural and industrial sectors in the region have deteriorated, diminishing its economic influence.
A Look Back to Economic Glory
The senator lamented the downfall of key industries, highlighting the sharp decline in Northern Nigeria’s groundnut industry. She pointed out that in 1959, groundnut exports from Northern Nigeria to the United Kingdom were valued at £27 million—equivalent to ₦3.6 trillion today. However, she noted that the industry now generates a meager $3 million annually, signaling a significant loss in economic potential.
“The collapse of the groundnut trade and other key industries represents a tragic loss to our region,” Akpoti-Uduaghan said. “We were once an economic powerhouse, but now, we are seeing a shadow of what we once were.”
The senator also cited the fall of the cotton industry, once integral to both local and global economies, with the Kaduna Textile Mill serving as a vital employment hub. Today, she said, the cotton industry has all but vanished, despite the global market generating $21 billion annually.
Senator Akpoti-Uduaghan urged Northern leaders to adopt a more progressive, developmental mindset to revive the region’s industries. She called for strategic planning and innovation to rebuild the entrepreneurial ecosystems that once flourished.
“It is crucial that we focus on rebuilding our economic resilience. We must move beyond dependence and work towards a prosperous future by harnessing our agricultural and industrial potential,” she urged. “This is the time for bold leadership.”
In her speech, Akpoti-Uduaghan also discussed the importance of economic diversification, acknowledging that while recent tax reforms have raised concerns, the region’s resistance is due to its lack of preparedness. She emphasized that a diversified economy would better withstand such changes, pointing out that a thriving groundnut industry could have alleviated the shock of economic reforms.
“Had we maintained a strong agricultural base like the groundnut industry, these reforms wouldn’t be as disruptive,” she said. “It’s time to stop making excuses and take concrete steps toward economic renewal.”
The senator further stressed the importance of preserving the North’s cultural heritage as part of the region’s revival. She called on all stakeholders—leaders, civil society, and citizens—to collaborate in protecting the cultural values that have defined the North for centuries.
The Sardauna Memorial Day event, which honored the legacy of Ahmadu Bello, saw the attendance of prominent figures such as Kaduna State Governor Senator Uba Sani, represented by Abdulazeez Ishak, and Northern Elders Forum Chairman, Prof. Ango Abdullahi.
Senator Akpoti-Uduaghan’s impassioned address has sparked renewed conversations about the North’s potential to reclaim its role as a major economic force in Nigeria.
With a call for innovative leadership and economic rejuvenation, the senator is leading the charge for the region to restore its economic vitality and cultural prominence.
National
Alaafin Oyo Throne: Makinde Seals Royal Transition Amid Kingmakers’ Rift
Governor Seyi Makinde of Oyo State has officially presented the staff of office to Prince Abimbola Owoade as the new Alaafin of Oyo, solidifying a royal transition that has sparked controversy among the Oyomesi, the traditional kingmakers of Oyo.
The ceremony, held on Monday, comes nearly three years after the passing of the late Alaafin, Oba Lamidi Olayiwola Adeyemi III, and despite resistance from five members of the Oyomesi, who argued that Prince Owoade’s selection was not legally sanctioned.
In a letter addressed to Governor Makinde, the dissenting kingmakers, represented by Adekunle Sobaloju (SAN), maintained that Prince Luqman Gbadegesin was their preferred candidate. The letter was signed by prominent Oyomesi members, including High Chief Yusuf Akínade (Bashorun of Oyo) and others acting as stand-ins for key traditional roles.
However, the state government defended its decision, with Commissioner for Information and Orientation, Prince Dotun Oyelade, stating that Owoade’s selection followed rigorous consultations and divinations, aligning with royal traditions.
The new Alaafin hails from the Owoade-Agunloye royal family and brings a distinguished academic and professional background to the throne. He holds degrees in Mechanical Engineering from both the University of Sunderland and Northumbria University in the UK and has served in key engineering roles, including his current position as a Project Coordinator at Manitoba Hydro, Canada.
This historic moment signifies a fresh chapter for the Oyo monarchy, even as it stirs discussions on the balance of power between the government and traditional authorities. As Prince Abimbola Owoade ascends the throne, the state looks forward to a reign that fosters unity and development for the Oyo Kingdom.
National
Mambilla Power Saga: Nigeria’s Cross-Examination Debacle Looms at ICC Arbitration
****Obasanjo, Buhari, Others Set to Testify as Mambilla’s 52-Year Legacy Hangs by a Thread
The International Court of Arbitration in Paris is set to witness high-profile legal drama as Nigeria faces potential disgrace in its decade-long battle over the $6 billion Mambilla Hydroelectric Power Project. The landmark case, initiated by Sunrise Power and Transmission Company against the Federal Government of Nigeria, reaches its climax this January.
Once a beacon of hope for Nigeria’s energy independence, the Mambilla project, conceived in 1972, now symbolizes decades of political interference, corruption, and bureaucratic bungling.
With the final arbitration hearing on the horizon, Nigeria’s chances of escaping liability appear grim, especially as key witnesses, including former ministers Abubakar Malami and Mamman Saleh, are conspicuously absent.
First awarded in 2003 under a Build-Operate-Transfer (BOT) model, the project has been dogged by abrupt policy reversals, contract cancellations, and re-awards.
The most controversial pivot came under President Olusegun Obasanjo, who shifted from BOT agreements to procurement contracts, fracturing the initial plan. Successive administrations, including those of Presidents Yar’Adua, Jonathan, and Buhari, oscillated between reviving the original agreement and renegotiating settlements.
The hearing promises explosive revelations as former Presidents Obasanjo and Buhari testify alongside ex-ministers and experts. Buhari is expected to defend his administration’s controversial 2017 re-award of the project, while Obasanjo faces scrutiny for altering its trajectory during his tenure.
Both are set for rigorous cross-examination, with Obasanjo’s testimony particularly fraught with detours into past scandals, including his BBC HARDTalk interview where he was labeled “the grandfather of corruption in Nigeria.”
The absence of Malami and Saleh, pivotal to the government’s defense, casts a long shadow over Nigeria’s case. Their negotiated settlement agreements with Sunrise in 2020—a $400 million compensation deal—remain critical but controversial elements of the dispute. Meanwhile, Sunrise’s star witness, former Attorney General Michael Aondoakaa, is poised to dismantle Nigeria’s counterclaims with damning insights into governmental lapses.
Beyond the courtroom drama, the stakes for Nigeria are monumental. A protracted legal battle and possible adverse judgment could further delay the project by six years, exacerbating the country’s energy crisis. With less than 4,000 MW of electricity shared among 240 million citizens, Mambilla’s delay perpetuates a cycle of economic stagnation, industrial decline, and social unrest.
President Bola Tinubu’s administration inheritd a quagmire of broken promises and unmet potential. While hopes for transformative leadership remain, the arbitration outcome will test Nigeria’s resolve to break free from decades of mismanagement.
Without decisive action, the Mambilla dream could remain just that—a dream, leaving millions of Nigerians in darkness.
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