By: Our Correspondent
Vice President Yemi Osinbajo has again accused former President Goodluck Jonathan of fraud as he said the country lost about $15B to fraudulent and corrupt practices in security equipment spending during his administration.
Osinbajo, SAN, made the disclosure during a book launch in Ibadan.
This is even as he spoke of hope that the implementation of the 2016 budget would get underway soon.
His words: “By the grace of God in the next few days we will begin the implementation
of one of the most ambitious budgets in our history. Ambitious not just in its size but more in its broad range of fiscal and other socio-economic policies”.
While observing that the Buhari presidency has kept on a sustained fight against corruption, the Vice President said the country simply cannot sustain the shocking level of public sector corruption in particular.
Continuing VP Osinbajo said: “When you look at the sheer amount of money that have been
embezzled, the sheer amount of money lost from any of these various cases of corruption, you will find that far too much has been lost. ”
He added that “it was discovered a few days ago that the total amount of money lost just to corruption in part of…and provision of security equipments in the military is closer to 15 billion US dollars.”
Prof. Osinbajo noted that the $15 billion figure “is more than half of the current foreign reserves of the country” which stands at $27B.
He further told the audience comprising of top Nigerian elites drawn from academics, business and the professions that what the Buhari presidency is trying to do is to ensure that there are consequences for corruption and to also send a message that anyone who is found to have been corrupt would not only dislodge the property they have stolen but will also pay for it in terms of the sanctions of the law.
He maintained that, “I believe strongly that it is important to send a message that no public officer can steal the resources of this country and expect to escape. I hope the message would be loud and clear and it will inform behaviour in the future.”
While challenging the generality of the Nigerian elite, Prof Osinbajo said “the limits of the growth and development of most nations largely depend on the strength of the value-driven influence of their elite, indeed it is evident that the reason for the development and growth
of most societies is not resources, but values, (otherwise African countries will be the most developed.)
Citing the example of Singapore, Osinbanjo noted that the reason why the small “resourceless island is richer than most of sub-Saharan Africa with its vast resources is values: hard-work,
integrity, innovation promoted by a committed elite. Thus the custodian elite especially in largely poor and illiterate societies has a huge responsibility,” he said.
He submitted that it is the business of the Nigerian elite through its most revered social institutions to promote the values that are fundamental to development and growth, adding that policies are often only as good as the character and commitment of its implementers.
