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bilymuse
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Nigeria Loses N3.5tr To Corruption – FG
News Agency Of Nigeria
Special adviser to the President on the New Partnership for African Development (NEPAD), Dr. Tunji Olagunju, said yesterday that Nigeria lost about N3.5 trillion to corruption in the last four decades.
He announced this while speaking on the key challenges in Nigeria, at a conference on Nigeria’s Country Review Report (CRT) on the African Peer Review Mechanism (APRM).
He said that the information was released by the former World Bank president, Mr. Paul Wolfwitz.
According to Olagunju, corruption and money laundering have retarded economic growth and development, as well as frustrate incentives on budgetary allocation with development priority.
"Corruption is responsible in large measure for broken promises, the dashed hopes and shallow dreams that have characterised the lives of most Nigerians in the past few decades,’’ he said.
He said that Transparency International’s 2006 corruption perception index ranked Nigeria more corrupt than 37 out of the 45 African countries for which relevant data were available.
"Nigeria will continue to be poor and the country may not meet it targets of being one of the 20 top global economies by 2020," he added.
Olagunju said Nigeria was rated among the top 20 countries in the world with the widest gap between the rich and poor.
He added that the greatest challenge facing the country was how to channel her wealth from the oil and gas industry.
He said Nigeria was unlikely to meet the Millennium Development Goals (MDGs) and was having difficulty in delivering social services, like potable water and energy.
"Nigeria has been unable to manage rapid and uncontrolled urbanisation, or providing effective intra and inter-urban transportation,’’ he said. (NAN)
from my humble calcultion that translate into:
N87.5 billion per year
which is equivalent to about:
N240 million per day
God bless Nigeria.
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toyinrayo (f)
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And here they tell us that Nigeria is a poor country. .
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Xiomarra
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Long hissssssssssssssssssssssssssssssssssssssss!
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bilymuse
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Well this is just the financial cost of corruption, the human and social cost, goes beyond estimation. because of some few people stealing our money, thousand of people Will die in road accident, because the road cannot be maintained, million will die of poverty and hunger. millions will die due to lack of medical care. millions will be forced into a life of crime, prostitution, armed robbery; because they were left no option.
consequently the society loses it soul and become inhuman, and we are the victim.
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dee02 (m)
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Is it surprising for a nation whose name means corruption and virtually all its inhabitants are tainted in corruption!
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bilymuse
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while there is still some innocent God fearing people in the country , suffering for a crime they know nothing about.
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Xiomarra
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Well this is just the financial cost of corruption, the human and social cost, goes beyond estimation. because of some few people stealing our money, thousand of people Will die in road accident, because the road cannot be maintained, million will die of poverty and hunger. millions will die due to lack of medical care. millions will be forced into a life of crime, prostitution, armed robbery; because they were left no option.
consequently the society loses it soul and become inhuman, and we are the victim.
And the perpetrators. Is it surprising for a nation which name means corruption and virtually all its inhabitants are tainted in corruption!
Brilliant!  while there is still some innocent God fearing people in the country , suffering for a crime they know nothing about.
I see. Really? |
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bilymuse
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What the government is telling Nigerians is: Folks were losing N240 million daily to corruption, there is nothing the government can do about it, there is nothing anybody can do about it.
Thereafter, they replaced Ribadu, whom everybody agrees is doing a good job and send him to Jos for a course. Almost all the people that attend the jos course are the same people looting the economy. check out the list; Abacha, Babangida, top army officers, top police officers, civil service. what they teach in jos is how to loot the Nigeria economy to the tune of N240 million daily.
The new EFCC chairman , Madam Waziri, primary responsibility is to ensure that no corrupt governor who helped in securing Yaradua victory in the election is prosecuted and that the N240 million daily corruption allocation must continue.
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tboy1 (m)
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What the government is telling Nigerians is: Folks were losing N240 million daily to corruption, there is nothing the government can do about it, there is nothing anybody can do about it.
Thereafter, they replaced Ribadu, whom everybody agrees is doing a good job and send him to Jos for a course. Almost all the people that attend the jos course are the same people looting the economy. check out the list; Abacha, Babangida, top army officers, top police officers, civil service. what they teach in jos is how to loot the Nigeria economy to the tune of N240 million daily.
The new EFCC chairman , Madam Waziri, primary responsibility is to ensure that no corrupt governor who helped in securing Yaradua victory in the election is prosecuted and that the N240 million daily corruption allocation must continue.
Ribadu was not doing a good job  During all the time he was there, why did he exclude corrupt leaders like Obasanjo, Mr. Uba(the president’s former chief of staff) Christopher Alao-Akala(former Governor )(now Deputy-Governor of Oyo State) . . .amongst others who clearly acted with impunity in their corrupt practices. @ Poster The amount Nigerians lose a day to corruption is greatly more than what's been calculated here (probably *10) and its unfortunate that the top leaders cannot do anything about it because they also feel its their turn to chop. . . and the next leader comes into the same position with the same idiotic mentality( i go chop) . . . It's also so sad knowing 70% of Nigerian are said to be living below the poverty benchmark and we still have people stealing all the money!!! |
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Ibime (m)
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N240m? I doubt it. More like $240m.
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bilymuse
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tboy1- on: Today at 01:45:54 PM » Ribadu was not doing a good job
During all the time he was there, why did he exclude corrupt leaders like Obasanjo, Mr. Uba(the president’s former chief of staff) Christopher Alao-Akala(former Governor )(now Deputy-Governor of Oyo State) . . .amongst others who clearly acted with impunity in their corrupt practices.
let us give honour to whom honour is deserved, within the difficult circumstances and environment Mallam Ribadu found himself as EFCC boss, he did a wonderful. Majority of Nigerians , home and abroad, and the international community recognise this. He brought corruption to the forefront of national issues and pursue his responsibility with a zeal unlike a Nigerian. l never believe their is someone like Ribadu in the police force. This goes to show that there are millions of dedicated Nigerian out there better than Ribadu, but the power to be will always try to destroy them just like they did Ribadu. the ball is now in the court of Madam Waziri. |
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bilymuse
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Now they said Abacha is a saint.
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chidichris (m)
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with all ribadu's tu-tu ha-ha, the big question is; did corruption go down or up in the 8 years? if we want say the truth, the answer is up and this is the price we have to pay for embracing selected justice.
untill nigeria and nigerians begin to see the likes of bode george, tony annenih, obj, chris uba and andy uba, adedibu etc as corrupt and see reasons to probe them, it will be difficult to win the war on corruption.
prominent among them was and is the confirmed case of money laundary in the usa which involves andy uba and the presidential jet and till date, ribadu choose to keep that aside by terming that a civil case. it is time nigerians began to ask what is civil about money laundary.
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bilymuse
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let us give honour to whom honour is deserved, within the difficult circumstances and environment Mallam Ribadu found himself as EFCC boss, he did a wonderful. Majority of Nigerians , home and abroad, and the international community recognise this. He brought corruption to the forefront of national issues and pursue his responsibility with a zeal unlike a Nigerian.
l never believe their is someone like Ribadu in the police force. This goes to show that there are millions of dedicated Nigerian out there better than Ribadu, but the power to be will always try to destroy them just like they did Ribadu.
the ball is now in the court of Madam Waziri.
l believe the above quote answered your question. let see what happen after Ribadu |
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bebure (m)
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And do you know where all that money is going? I'll tell you: It's going to these thieving bastards children who in turn use it to pop moet and kristal in clubs all over jand and yankee. Quite sad really when you consider the millions suffering back at home but I guess if you can't see it then it isn't real
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Arnold1 (m)
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They are always coming up with estimates regarding graft/corruption, but what is being done to tackle it ?
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bilymuse
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Nobody can tackle corruption in Nigeria. the power brokers/ kingmakers will ensure that only people of questionable moral character will be the president, so that the N240 million looting of the treasury must continue.
Who are the power brokers/kingmakers in Nigeria: Babangida, Adedibu (recently decease), past corrupt Governors, Retired corrupt military / police officers, top civil service officers, corrupt traditional rulers. this are some of the groups responsible for N240 million looting of the treasury . that is the reason why Ribadu is not acceptable to them.
Yaradua is too busy tendering his health. Moreover is hand is not clean. How can a lecturer over a few years suddenly become a billionaire. Nobody is asking question.
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Method-Man (m)
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like Mobutu Sese Seko, Nigerian rulers believe they are entitled to take freely from the public treasury
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Ibime (m)
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It is impossible that we only lose only N240m or £1m a day to corruption. That means we only lose £365m a year. Absolute rubbish. Why do we have dollar billionaires who have earned all their money from corruption. I wish we only lost £1m a day to corruption. Things would be better.
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bilymuse
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well, l believe that is the federal government conservative estimate
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bilymuse
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it is estimated that the oil will dry up in 43 years and there wont be any millions for anybody to steal
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bilymuse
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well madam Waziri says the Nigeria politicians/officials are mentally deranged, thats is the reason they loot the treasury mercilessly
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