NEED TO REJIG NIGERIA'S ANTI-CORRUPTION PROTOCOL

Corruption has been identifies as the mountain standing between Nigeria and her Promised Land. The prevalence of corruption has greatly discouraged the inflow foreign investments into the country. This is indeed a serious problem when viewed against the backdrop of the current economic order. It is necessary for our fiscal policy formulators and advisers to understand that Nigeria can only benefit from the culture of free market economy when the nation is able to win the confidence of the global business community. Unfortunately, Nigeria’s corruption and fraud index are still very high. This has discouraged many foreign corporations and institutions from trusting Nigerian citizens or investing in the country.

The bulk of whatever we still have as foreign investments in the country is tied strictly to the oil industry. Foreign investors still have some confidence in Nigeria’s petroleum sector because of its peculiar nature. In Nigeria, crude oil production and marketing is such that foreign investors have undue advantage over the Nigeria National Petroleum Corporation (NNPC) mostly because of the nation’s poor technological state. This has afforded the joint venture partners the opportunity to dictate terms and conditions of joint venture activities. It is in this light that the local content policy of the federal government is most welcome. If properly monitored, Nigeria will save billions of dollars spent annually on the fabrication, installation, and maintenance oil industry utilities.

It is for all these reasons that the federal government has channelled huge material and human resources towards fighting corruption especially in the last ten years. Nevertheless, it would not be out of place to argue that not much have been achieved when viewed against the backdrop of the number of high profile corruption cases being unearthed daily by the nation’s anti-graft agencies. This sad development is enough reason for government to rejig the nation’s anti-graft protocol.

To a very large extent, current anti-corruption efforts are focused mainly on investigation, prosecution, and punishment of convicted offenders. Even at that, the logic surrounding punishment of persons convicted for corruption is faulty. There is no justification for giving equal punishment to persons that embezzled different amounts of money. Take the case of two men- one embezzled N10m and the other, N10b but were all sentenced to two years prison term. Apart from prescribing long prison terms (minimum of ten years), every N1m of illegally acquired money should attract additional 1 year prison term. Through this, the weight of punishment can make some meaning. The current system where someone will embezzle up to N10b and serve a mere two year jail term is an insult on the sensibilities of poor Nigerians. If given the opportunity, many poor Nigerians would be too willing to collect N10m and spend three years in prison in order to escape poverty.

Nigeria’s current anti-graft campaign can be likened to pursuing a policy of cure, as against that of prevention. Government should consider legislations that will encourage citizens to live within their income. This should be done putting in place legislation that will compel citizens to disclose sources of income to the Economic and Financial Crimes Commission (EFCC) before acquiring properties or investing up to N5m and above. Whoever that fails to do so should be punished with a one year jail term and also forfeit the said property or investment to the applicable tier of government where the source of illegal money is traced to. Apart from discouraging corruption, the work of the various security and anti-graft agencies will be made easier and more efficient.

Nevertheless, government must have to tackle the problems of poverty in the country. Ordinarily, Nigeria is too endowed to experience problems of poverty. The inability of government to fight corruption and distribute national wealth evenly is the fundamental causes of poverty in the country. National wealth can be distributed evenly by strengthening of the nation’s socio-economic framework. To achieve this, the organised private sector will have to be energised to stimulate rapid economic growth. This would require stable power, effective transport infrastructure, friendly tax regime, and access to long term credit facilities among others.

Furthermore, government must also diversify the economy by encouraging the agro-allied and solid minerals sectors. Apart from contributing to the nation’s foreign exchange earnings, millions of high-paying jobs will be created. Clearly, unemployment is a major source of poverty, malnutrition, crime, and insecurity in Nigeria.

There is no doubt that over 80% of Nigerian workers in both the public and private sectors cannot rely on their salaries for the feeding, housing, transportation, health care, and educational needs of their families. Like the National Health Insurance Scheme (NHIS), affordable premiums can be set to enable Nigerian workers and their family access quality health care services, quality education to university level, and ability to own houses commensurate with their income. Of what necessity is work if one cannot rely on his income to take care of the basic needs of life?

Nigerians should not allow themselves to be deceived by charges of “political witch-hunting” levelled against the presidency by highly placed citizens facing corruption charges. Are we saying, the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) should not investigate and charge to court those sharing different political opinion with the president even when there are enough evidences to do so? This is not the best way to fight corruption. Until they are convicted in a recognised law court, such persons remain innocent. They should therefore submit themselves for trial and sue government for damage if they are eventually acquitted.

My sympathy for these highly placed Nigerians accused of corruption is tied to the proof that they do not have confidence in the judiciary. From all indications, the Nigerian judiciary can be entrusted with the freedom of the innocent and punishment of the guilty. Let us join hands and make corruption unpopular in Nigeria.