November 16, 2023

Systemic Disaster in the System

Osunde Douglas Eseosa, Barrister & Solicitor of the Supreme Court of Nigeria LL.B., LL.M., (USA), BL.

Witnessing the pervasive corruption afflicting certain Nigerian leaders is genuinely disheartening. Their apparent disregard for the people they’re meant to serve, focusing solely on personal gain, is evident. Their actions are driven purely by greed and self-interest, showing no concern for the dire repercussions on the nation and its citizens. Urgent action is imperative to rectify this situation before the harm becomes irreversible.

Let’s delve into a calculation that stems from the alleged corruption involving Godwin Emefiele, the Governor of the Central Bank of Nigeria. If it indeed holds true that he embezzled N500 billion monthly, the cumulative annual amount reaches a staggering N6 trillion. Extending this over the eight-year span of President Buhari’s term, the total soars to an astounding N48 trillion. At the exchange rate of N445 per dollar during Buhari’s tenure, this translates to over $107 billion.

Contemplating the potential uses of the $107 billion supposedly misappropriated during Buhari’s term is mind-boggling. This substantial sum could have transformed countless lives by alleviating poverty, enhancing infrastructure, and ameliorating the sufferings of Nigerians. However, these funds have been squandered due to corruption, demanding accountability from those responsible. Retrieving and employing this money for public welfare should be a primary goal for the new government.

Consequences should extend not only to the individuals implicated in corruption, but also to their offspring, who should be prohibited from benefiting from educational achievements obtained during this period. This approach sends a powerful message that corruption carries severe repercussions, not only for the culprits but also for their families. Education, a privilege, should not be exploited to perpetuate corruption.

Osunde Douglas Eseosa, Barrister & Solicitor of the Supreme Court of Nigeria: LL.B., LL.M., (USA), BL.