The Minister of Transportation, Chibuike Amaechi, on Monday, September 5, made an unprecedented revelation on the administration of President Muhammadu Buhari, as he disclosed that Nigeria has recovered N3.4 trillion in cash and in assets, while another N115 billion worth of cash and assets have been discovered in the United States, U.S, United Arab Emirates , U.A.E, and United Kingdom, U.K.
Post-Nigeria, gathered that the revelation is coming at a time, when the Minister of Information, Lai Mohammed, had officially disclosed that a total of N78 billion and $3 million (N945 million), have so far being recovered, maintaining that it was not even sufficient to pay half of the Federal Civil Servants’ salaries in a month.
Mohammed said, “What we have recovered, and if my record is right, is about N78 billion and $3 million. We’ve blocked other accounts with about $9 billion, but the money is not available to us, because we are still in court.”
However, the Minister of Transport in his own ground breaking revelation, opposed the Information Minister, as he disclosed that N3.4 trillion in cash and assets have so far being recovered, with an additional N115 billion worth of cash in pipeline yet to be acquired.
The alarming figure according Financial Analysts, is capable of funding 55 percent of the 2016 budget pegged at N6.6 trillion, which is capable of bouncing back the economy from recession.
This figure however, does not constitute the over N3 trillion, so far realized from the Treasury Single Account, TSA.
Ameachi said, “Our President has stopped at nothing to demonstrate that whosoever is caught in corruption related crimes, will not be spared.”
“In his days as Military Head of State and through other positions, he has held in public life, he has upheld a life of integrity.”He is a typical example of how a leader can inspire committed followership through the force of example.”
Speaking on the topic, “Beyond Blame Game: The Imperative of Tackling Economic Crime Together,” at the opening of the 34th Cambridge University prestigious International Symposium at Jesus College, University of Cambridge, United Kingdom on Monday, he said crime is often committed in an organised manner, involving several people, sometimes, across countries through multiple jurisdictions.
”At the Seventh African Union and Economic Commission for Africa conference that held in Abuja back in 2014, former President of South Africa, Thabo Mbeki, stated that Africa loses between $50 billion to $60 billion annually, as a result of Illicit Financial Flows (IFF).“These are said to occur through forms of tax avoidance, including transfer pricing or mispricing, depending on which side you are, through which multinationals minimise their tax obligations, by shifting their profits from high tax, to low tax jurisdiction, thereby short-changing some of their host countries, especially in the developing world, and draining them of legitimate revenue, impeding their projects, and denying their population access to basic services.“As someone who has been in active politics for more than 30 years, I have learnt that many well-intended reforms are possible, only if the leader can offer the requisite leadership and muster the right political will.“In my country, since our President, Muhammadu Buhari, was elected, he did not leave anyone in doubt that the fight against corruption will not only be taken seriously, but will form a cardinal plank of his policy direction.“So far, he has made several pronouncements that set the tone of his commitment to strengthening anti-corruption agencies to go after anyone who has questions to answer.“The President’s resolve was enough signal to all of us, members of his cabinet and the citizenry, that an end has come for the old ways of doing things.“Currently, many people who have been indicted in one form of corrupt practice or another, are being prosecuted in our courts. That, I believe is the way to show leadership and take responsibility.“Another important factor, is what I refer to as the force of example. There is very little any leader can achieve, if he talks the right political talk without offering personal examples.“In these days of internet and social media revolution, citizens often spend time to scrutinize the reputation and activities of any leader, to find out if they are consistent with what he or she stands for in the media.“Essentially, leaders must practice what they preach, if they expect to be taken seriously both by those within their organisations, state or country or outside,” Amaechi stated.
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