President Muhammadu Buhari while reacting to questions from members of Nigerians In Diaspora Organization (NIDO) in the United States and Canada at the Nigerian Embassy in Washington DC on the third day of his visit vowed that his administration will trace the accounts of individuals who stashed away ill-gotten oil money, freeze and recover the loot and prosecute the culprits.

President Buhari lamented that “Corruption in Nigeria has virtually developed into a culture where honest people are abused” and according to him, “250,000 barrels per day of Nigerian crude are being stolen and people sell and put the money into individual accounts.” He also added that the United States and other developed countries “are helping Nigeria to trace such accounts now.

We will ask that such accounts be frozen and prosecute the persons. The amount involved is mind-boggling. Some former ministers were selling about one million barrels per day. I assure you that we will trace and repatriate such money and use the documents to prosecute them. A lot of damage has been done to the integrity of Nigeria with individuals and institutions already compromised.”

Citing the example of the Nigerian National Petroleum Corporation (NNPC), President Buhari said unlike what obtained during his tenure as Federal Commissioner for Petroleum under military regime when the NNPC had only two traceable accounts before paying oil proceeds into the Central Bank of Nigeria (CBN), “now everybody is doing anyhow.”

The President, who expressed skepticism on the existence of oil subsidy, said if subsidy was removed, transport, housing and food prices would go out of control and the average worker would suffer untold hardship.

While agreeing that the “economy is in an extremely bad shape,” following 16 years of bad government by the Peoples Democratic Party (PDP) which ran down the oil refineries and had the “treasury in their pockets,” he said the All Progressives Congress (APC)-led administration would fulfill its three-pronged campaign manifesto of providing security, turning around the economy with a major focus on youth employment and fighting corruption. According to him, agriculture and mining would receive priority attention as faster job-creation avenues for the teeming unemployed youth, adding that some foreign investors had agreed to take advantage of the immense business opportunities in Nigeria.

President Buhari promised that his administration would at the right time tap into the enormous talents available among-st members of NIDO especially as consultants while their requests for voting right in 2019, a Diaspora Commission and opening of new consulates in parts of the United States and Canada would be looked into.

The President had earlier met at the same venue with a group of young professionals in the United States and assured them of his government’s resolve to fight corruption, remain steadfast and invest heavily in education which he said was the answer to taking the youth out of poverty and ignorance. The youth in their huge numbers took turns to express their best wishes for the President and the country.

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Catch those responsible and deal with them