The biggest obstacle to socio-economic development across all levels of government in Nigeria can be situated in financial impunity. Generally, we view public funds the way we view mangoes planted along the road. It's a no man's property. Read more at:
That is why President Buhari enthusiastic pursuit of
economic saboteurs will come naught and a waste of time unless government at
all levels put in place and respect a systems of internal controls.
It easy to
observe that at all levels of government the most basic systems and controls over the management of
our resources are in dire need of strengthening. While we are regaled with and
shocked by details of amounts stolen, diverted or wasted, we must face the cold
reality that such acts are facilitated by weaknesses in our systems.
The only
reason $2.1 billion and other such funds available are able to walk away from
the Defense budget and from the States and local government areas is because
controls are not there or not being respected and applied. But
regulations and controls must be followed with serious sanctions if there are infractions.
[[In the absence of
sanctions even if we successfully prosecute and jail every
looter, ghost worker and other economic saboteur, there is every risk that
those caught will only be replaced by persons who are just as bad, or worse –
unless we radically strengthen our systems and institutions.
The starting point in getting Nigeria ready for development is to
build and strengthen the country’s financial management systems. System and
Internal Controls cannot prevent all criminal activities but they will alert
management of fraudulent activities and who the perpetrators are, and when they
occurred.
We know that under OBJ, about $5 billion was recovered from
Abacha’s loot. How was it spent? What happened to the recoveries made before?
Chasing looters first before strengthening our system and internal controls
will be merely pouring water in basket and hoping it will stay.
It cannot happen.
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