EXPOSED: Shocking Details Of The 55 Nigerians That stole N1.3tr in 7 years Unveiled

Acting chairman, Economic and Financial Crimes Commission (EFCC), Ibrahim Magu has lamented the effects of corruption on the country.

Magu, who was represented by Olanipekun Olukoyede, his chief of staff, expressed concern at the rate of corruption in the country.
He said 55 Nigerians stole N1.3tr between 2006 and 2013, Independent reports.
Going further, he disclosed that using the World Bank rates and cost, the stolen money could have been used to construct 635.15 kilometres of roads; build 183 schools; educate 3,974 children from primary to tertiary level at N25.24 million per child; build 20,062 units of two-bedroom houses across. the country and do even more.
He made this known during the seventh convocation lecture and 10th anniversary of Fountain University, Osogbo, on Sunday.
Also lamenting the effects of corruption at the event was the Osun state governor, Rauf Aregbesola who claimed that many Nigerians live on unearned income.



While delivering the convocation lecture entitled ‘The Damaging Effects of Corruption in a Growing Economy’, Magu said Nigeria would have become a heaven if she had not been bedeviled by corrupt and unscrupulous individuals.

“Officers entrusted with the commonwealth saw that as an opportunity to enrich themselves to the detriment of the poor and impoverished masses.
“Public institutions were worse off arising from the corruption that was endemic in the public service. Our public-owned educational institutions, hospitals, water boards, roads, mass transportation systems, etc. are in a sorry state because monies voted for their construction, repairs, upgrade, or supplies are criminally misappropriated and diverted by dishonest government officials.
“Consequently, the poor state of our education, the tragic condition in our hospitals, the dilapidated roads, and absence of germ-free water flowing from our taps, are what we are reaping due to the corruption of the few that have found a place in the public service.
“Corruption showed its head even in the fight against Boko Haram; money meant for purchase of arms to fight the insurgents was misappropriated, misapplied and out rightly embezzled.
“In our effort to do what we have been established to do we have been attacked, castigated, maligned and some of my colleagues have been killed in the line of duty. We face huge challenges because corruption fights back! The corrupt are not going to quit quietly without giving us a fight, they have the resources and the network to try and stop us doing our job,” he said.

Aregbesola on his part, identified lack of productivity, creativity, innovation and critical thinking as bane of national growth and development.
The governor also attributed the endemic corruption in the country to poor orientation among Nigerians and the negative notion that a better life could be lived without work, thus exposing the country to social vices.
“I wonder if it is because of level of corruption that we are largely unproductive because if not, the pace of corruption in the country wouldn’t have reared its ugly head as we are currently experiencing.
“We all forget the fundamentals that emphasised productivity as the basis of existence in the civilised society.
“A country that is based on unearned income can never fight corruption just as lack of productivity and absence of innovation bring about socioeconomic backwardness,” Aregbesola noted.
Meanwhile, NAIJ.com had reported that a former consultant and investigator with the Economic and Financial Crimes Commission (EFCC) called on President Muhammadu Buhari and the federal government to increase the budgetary allocation of the commission.
Victor Uwajeh said the need for the increase in budgetary allocation for the EFCC has become a matter of urgency. Uwajeh said such move by the government will lead to the achievement of maximum results in the fight against corruption.
The former investigator, in a statement on Wednesday, January 10, said there is need for an increased funding to enable the anti-graft tackle the menace of corruption in Nigeria.

Source: Naija.ng