Turning Nigeria’s treasury-looting culture into a vibrant industry – Businessday NG

Though largely undocumented, there are, however, clear signs of a surge in the population of Nigerians tumbling into hard times after leaving political office. The inclusion of former civil servants drawn from the three levels of government further heightens the scale of this growing misfortune engendered by economic mismanagement.

This emerging class of Nigerians, according to numerous reports, is unable to meet such needs as paying school fees for their children, fuelling cars, purchasing basic foodstuffs, medical care and vacations abroad, as well as hiring the services of domestic staff, security personnel and drivers, among others.

For an economy under steady decline for decades, characterised by soaring inflation, low productivity and fluctuating currency value, extreme poverty is not only inevitable; even for the rich, especially the political elite, vast amounts of money are required continuously to maintain their superfluous lifestyles.

Under the incumbent administration of President Bola Tinubu, life has never been more miserable for the majority of Nigerians, despite questionable indices claiming improvements in the economy. The World Bank, at the launch of its Nigeria Development Update report in Abuja on October 8, stated that 139 million Nigerians are in poverty in spite of bold reforms. There is hardly a silver lining anywhere. Propaganda and state capture have failed to have whatever positive effect on the spiralling cost of living for the average citizen. A huge number of people are dying daily from starvation, hypertension and other stress-related ailments.

Yes, today, political service has become the most lucrative choice of career. This craving is not driven by huge wages or patriotism. Rather, it is stimulated by a dearth of economic opportunities and institutionalised corruption that provides unfettered access to public funds without accountability. Like a cancer, the malaise has spread to all aspects of Nigerian life, with its attendant consequences on values and national development.

In an article titled “Navigating the road to the Nigerian treasury”, which I authored and published in Thisday on January 27, 2022, I wrote, “Since the restoration of democratic governance in 1999, politics has taken centre stage as the principal vocation. Seeking employment in the public service, political offices in particular, is the new norm, not for the sake of attaining national goals, but as the most lucrative route to wealth acquisition. On the flip side, the private sector has become the exclusive domain of foreign investors, exceptional and/or crooked Nigerians and those unable to secure government jobs.

“So the outcome: the political elite are richer than the business class, a situation illustrative of a society in retardation. Nigeria tragically presents a classic example. Left without better options, if any, the dream of everyone now hinges on grabbing the national cake by all means.”

Typically, such stolen funds are invested in real estate, hotels, shopping malls, exotic vehicles, mansions, fuel stations and event centres. The looters hardly venture into manufacturing or other productive industries that support economic growth and job creation. They would rather syphon the loot abroad. Their areas of investment do yield considerable proceeds, but not at the scale to sustain the affluence they command while in public office. Having become separated from the till, they become regular fellows who are forced to confront disgrace and discomfort. Consequently, the human traffic to their homes and offices gradually dwindles and ultimately disappears. If the economy were being well managed, it would have maintained sustainable growth in such proportion that past public officials would happily return instead of having an obsession for political office.

Names that hitherto made waves as leaders for holding public offices have disappeared into oblivion or are remembered as part of a dishonourable past. Such figures are easily identifiable in virtually every state, with a sizable number of them being former governors and their deputies, ministers, legislators, advisers, commissioners and board members of government parastatals and agencies.

In contemporary times, such names as Atiku Abubakar, Bola Tinubu, Nasir El-Rufai, Nyesom Wike, Bukola Saraki, Rotimi Amaechi, Godswill Akpabio, George Akume, and Rabiu Kwankwanso, among others, have become synonymous with endless politicking and unexplained wealth. Across many states, former governors are depleting the treasuries, receiving atrocious pension payments even after moving to other public offices from which they also draw salaries and other emoluments.

The $300 million environmental remediation project for Ogoniland, which Omoyele Sowore alleged was stolen and diverted by the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to construct private supermarkets in Port Harcourt, as well as the purchase of properties in the USA, would be enough to create viable companies to employ thousands of Nigerians. This is just an instance. It is a thriving industry.

With masked forms of corruption ostensibly part of the culture of some of Nigeria’s ethnic groups and the political elite, there’s no one to bell the cat, despite knowledge of its adverse effect on economic management and governance. This is particularly hurtful as they also control the levers of power. For effect, they brazenly flaunt stolen wealth as an accomplishment. Indeed, we exist in an environment where society equates a successful political career with mysterious wealth accumulation. An outcome contrary to this expectation is regarded as failure. So, there is tacit approval to steal.

Poor leadership, prodded by nepotism and mediocrity, remains a major bane of Nigeria’s underdevelopment. Amnesty International once placed the country in the “Systemic Grand Corruption” category in its Corruption Perception Index, which it said “violates human rights, prevents sustainable development and fuels social exclusion.”

The country has essentially epitomised the assertion of Pieter Botha, former Prime Minister and President of South Africa, who, way back in 1988, spoke about our downside: “Black people cannot rule themselves because they don’t have the brain and mental capacity to govern a society. Give them guns, and they will kill themselves. Give them power, and they will steal all the government money. Give them independence and democracy; they will use it to promote tribalism, ethnicity, bigotry, hatred, killings and war.”

Let’s shun living in denial; Nigeria may as well begin to nurture a system where corruption is creatively exploited for positive impact. It may run on the principles of communism and reverse engineering. For starters, every citizen aged 18 is automatically enrolled as an employee of the state with the appropriate wages. At least everyone gets something. But those with higher access to public funds are given some latitude: their looted funds must be invested in specific economic sectors and cannot be ferried out of the country. Their companies must be publicly quoted. There should be legislation protecting investment of looted funds in line with the agreed guidelines. The industry may be called ‘sleazital’.

Perhaps it is time to engage consultants to unlock this dilemma. It may produce an unprecedented positive outcome for humanity, especially as all exertions by anti-graft agencies to tackle the vice have failed spectacularly, not for lack of effort but probably due to entrusting the role to people who are inspired to steal too or due to Botha’s declaration. Can we prove him wrong?

Nwachukwu is a Lagos-based communications consultant.