Vice President Yemi Osinbajo encouraged stakeholders in the battle against corruption, including government, parliamentarians and non-state actors, to be more efficient and adopt a holistic, strategic and coordinated strategy.
Mr Osinbajo made the call in Abuja on Thursday at the 2019 Anti-Corruption Day of the African Union (AU) organized by the Independent Corrupt Practices and Other Related Offenses Commission (ICPC).
The Nigeria News Agency (NAN) states that the annual Day celebrated on July 11 is an African observance event aimed at raising awareness in the battle against corruption.
The theme for this year’s celebration is “Towards a Common African position on Asset Recovery”.
Mr Osinbajo, who was represented by the Federation’s Solicitor-General and Permanent Secretary of the Federal Ministry of Justice, Dayo Apata, said the corruption ban gave birth to unbridled looting of government resources and assets.
“In reality, corruption undermines Africa’s security, generates huge economic damage and violates human rights.
“This gives a sense of urgency to the fight against corruption, as failure to address corruption inhabits sustainable long-term growth and undermines human development.
“The menace of corruption in African continent is endemic, as it negatively affects all aspect of people’s lives. And those who suffer most are the vulnerable, the down-trodden, the less privilege, the poor and the marginalised.
“In spite of commendable regulatory instruments and established different institutions to combat corruption in Africa, the ugly trend continues unabated.
“Through its diverse practices, funds allocated for the provision of vital public services such as roads, health clinics, good schools, among others, are diverted, mismanaged and stolen,” he said.
Osinbajo said the third high-level roundtable of the AU would continue to pave the way for the necessary chance to cross-fertilize thoughts, exchange expertise and share best practices in controlling problems that militate against good governance.
He added that it would also help with the recovery of looted assets between African states and around the world, thus improving the recovery of assets and the return of assets.
He observed that the current administration led by President Muhammadu Buhari since its inception in May 29, 2015 had been a top priority program to tackle corruption head-long.
“As a result, there is in place no zero tolerance policy to corrupt practices and non-conforming conducts in public life and for ensuring integrity and ethical conducts in the task of governance.
“It is time for Africa to fight for all it has lost through bad leadership and mismanagement of public funds which is detrimental to its citizens,“ he said.
Mr Osinbajo assured the public of government’s ongoing commitment to fulfill all national, international and regional obligations in the fight against the corruption scourge in Nigeria
ICPC Chairman Bolaji Owasanoye said the anti-corruption day was meant to allow all 55 AU nations to increase awareness about corruption and propagate the actions that individuals can do to combat it.
Mr Owasanoye, who was represented by a committee member, Obiora Igwedibia, observed that the anti-corruption day had become imperative due to the adverse effect of corruption on the economic development of the continent, which could not be underestimated.
“The worst-hit victims of the crimes of corruption remain the vulnerable poor and the marginalised individuals.
“Indeed, the panel on illicit financial flows from Africa, chaired by former South African President, Thabo Mbeki, in 2015, put the amount of money leaving Africa through illicit flows at a staggering sum of 50 billion US dollars annually,” he said.
He explained that President Muhammadu Buhari also noted that it was more than three times U.S. overseas development aid to Africa.
“Sadly, the flow is now estimated at 90 billion U.S. dollars and it is still growing,” he said.
Mr Owasanoye said that initiatives aimed at recovering detected stolen wealth would be transformative for the continent, adding that millions of Africans suffering from denial of fundamental social services and absence of infrastructure such as hospitals, schools, water and jobs would be helped as stolen assets recovered.
“When you recover stolen wealth back to the original owners in a way that obviously makes the concealment of same difficult at all times, there is less controversy in corruption “Future perpetrators are also prevented, while the rich people that were ordinarily made poor by activities of thieves rejoice and bask in general prosperity,” he said.
In his remarks, the Chairman of the Presidential Advisory Committee Against Corruption (PACAC), Itse Sagay said that Nigeria’s major problem with asset recovery was the extreme difficulty of persuading foreign countries to whose territory such looted funds had been transferred to return the funds to the victim state.
“Nigeria particularly has experienced this with regard the Abacha loots which are still located in various countries all over the world.
“The latest example is the funds identified as Abacha loot funds in the island of New Jersey which is determined to keep large proportion of looted funds before returning the balance to Nigeria,” he added.
He encouraged African leaders to come together to create a common procedure to demand that such funds be returned from overseas nations.
“Such a standard once established will create a more conducive mindset in the receiving countries for the return of looted funds in their custody.
NAN reports that the day was organized by ICPC in collaboration with PACAC, the Center for Democracy and Development (CDD) and the Pan African Strategic and Policy Research Group (PANAFSTRAG). (NAN)