Looting of money by public officials with impunity over, says Osinbajo

http://www.gatewaymail.org/wp-content/uploads/2016/02/Prof.-Yemi-Osinbajo...Vice-President..jpg

 

NIGERIA: THE Federal Government on Monday declared that the era of impunity in the looting of the nation’s funds by public officials is over.

The Vice President, Professor Yemi Osinbajo, said that henceforth any public officer caught plundering the nation’s resources would not escape punishment under the present administration.

He stressed that “those found to be corrupt will not only ‎disgorge the property stolen, but will have to pay for it in terms of sanctions according to the law.”

“We believe that it is important to sound this warning that no public officer can steal the resources of this country and try to escape,” Osinbajo said.

He added: “I hope that this message is loud and clear and it will inform right behaviour in the future.”

The Vice President, who gave the warning at the 50th anniversary of the “House of Lords, Nigeria”, where a book entitled: “Nigeria: The Challenges of Growth and Development (In-depth analysis by experts)” was presented, also lamented the high level of corruption in the country.

Osinbajo, in his capacity as the Special Guest of Honour at the event held at the Trenchard Hall of the University of Ibadan, said that corruption had negatively affected the socio-economic situation of the country.

According to him, the nation lost $15 billion, a princely amount that is more than half of the current reserves of the country, to corruption in the military sector.

He maintained that the country could not sustain the level of corruption in the public sector, while stressing that substantial amount had been lost in the economy due to the corrupt activities of many Nigerians, specifically in the procurement of security equipment in the military sector.

“We need to have a sustained fight against corruption,” the Vice President said, adding: “This country simply cannot sustain the level of public sector corruption that has bedevilled us for so many years.”

He declared: “If you look at the sheer amount of money that has been lost to the various cases of corruption, you will find out that ‎far too much has been lost.

“Our country’s external reserves stand at $27 billion few days ago, but the total amount lost just to corruption in the provision of security equipment in the military is close to $15 billion, which is more than half of current reserves of the country.”

Osinbajo, however, promised Nigerians that the epileptic power supply, which had adversely affected the economy, would soon be rectified.

He also stated that “7,000 megawatts of power would be generated in the next 18 months.”

While stressing that there would be economic turnaround in the country, the Vice President maintained that for the first time, government at the centre, would be committing 30 per cent of its budget on capital projects which, basically included rail, roads and power.

According to him, government had prioritised the Lagos-Kano and Calabar-Lagos rail lines in the new budget.

“Power is a major factor in nation building.  But the most important part of this is that the aspect of power generation that is weak at the moment will be quickly restored,” he said.

He further said: “The most important aspect in the power generation ‎is first, gas and secondly transmission.  It is in our plan not only to produce more gas, but also that we are able to pipe the gas to appropriate stations.”

Osinbajo also declared: ‎“We are going to generate 7,000 megawatts of power in 18 months. But the problem is pipeline vandalization. The President has, however, ordered a full scale protection of the pipelines by the military.”

The Vice President, however, told the members of “House of Lords” that as elites in the society, integrity, discipline of implementation and rigorous enforcement of law and order should often be their watchword.

He stressed that “the concept of Omoluabi and good character should be promoted by the elites.”

The House of Lords, with 34 members, included its Leader, Professor Olajide Desalu, Professor A.B.O.O. Oyediran (Past Leader), Chief Bandele Aiku (SAN), retired Justice M.O. Onalaja, Professor Jide Osuntokun, Professor Emeritus Ladipo Akinkugbe, Professor Emeritus Ayo Banjo, Architect Muyiwa Ige, Brigadier (Dr.) Akintunde Akinkunmi.

Among dignitaries present at the event were the Oyo State Governor, Senator Abiola Ajimobi, represented by his Deputy, Chief Moses Alake, Professor Abel Idowu Olayinka (Vice Chancellor, University of Ibadan), prominent industrialist, Mr. Oba Otudeko, and Mr. Fola Adeola, former Managing Director, Guaranty Trust Bank.

• By Temitope Odupitan