http://blog4all-com..com/2012/04/nigeria-chronicle-of-thieving-leaders.html

In the 1970s, when Afrobeat maestro, Fela Anikulapo Kuti sang, “VIP: Vagabonds In Power”, many Nigerians though their country had seen the worst and that corruption had attained its height with the misdeeds of some of the nation’s power brokers. But more than three decades after Fela sang the song, it has become obvious that “vagabonds” are indeed in power in Nigeria.

The case of James Ibori who was sentenced to 13 years imprisonment by a London court recently further confirms the true meaning of “VIP” in Nigeria. Ibori had been absolved of more than 170 counts of corruption by Nigerian courts; only for him to become a fugitive when INTERPOL came knocking. It must however be noted that corruption did not just start in Nigeria.

Between 1976 and 1983, it was fashionable to be a contractor. Around that time, it was alleged that most of the contractors that were sympathetic to the National Party of Nigeria (NPN) which was the ruling party then got paid for jobs that were never executed. Members of the ruling party also benefited largely from the issuance of importation licenses as well as foreign exchange allowances. After the Shagari administration was sacked by General Buhari in December 1983 and a good number of political office holders were detained, a large chunk of Nigeria’s population felt with the treatment meted to politicians by the administration, anyone thinking of embezzling public funds would have a rethink.

The corruption in Nigeria’s system assumed a new dimension with the coming to power of Major General Ibrahim Babangida on August 27, 1985. While some agree that IBB started well, others believe the “Maradona” in him was simply aiming towards a personal goal.

Babangida had made everyone believe his government would operate a “low profile”. His official car was a Peugeot 504. Noticeable changes of extravagance however started coming when the “President” soon opted for a Peugeot 505 Limousine and later a fleet of Mercedes Benz Cars.

Though many acts of corruption were perpetrated in the course of his 8-year-rule, one of the most unpardonable among them is how the windfall from the oil prices in during the 1991 Gulf War was expended. It is an open secret that as a result of the war, oil prices across the world shot up and oil producing countries made mega fortunes from exporting crude oil. Nigeria was not left out. Surprisingly however, all the money Nigeria made from the sale of oil during that period, totalling about $ 12.4 billion developed wings during Babangida’s tenure.

Years after, many are still bold to say “Babangida made a lot of millionaires” in Nigeria. Interestingly, some of the millionaires he made are still in government and some of those who benefitted from his ;largesse as military President have turned against him and even did all they could to stall his plans to rule Nigeria again.

Read More @ http://blog4all-com..com/2012/04/nigeria-chronicle-of-thieving-leaders.html