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Home General News International News Africa

Nigerian minister says $6.8 billion of public funds stolen in seven years

Frank Movado by Frank Movado
August 30, 2023
in Africa, International News
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Fifty-five people who were government ministers, state governors, public officials, bankers and businessmen stole 1.34 trillion naira ($6.8 billion) from Nigeria’s public purse over a seven-year period, the information minister said on Monday.

Endemic corruption has enriched a small elite but left many Nigerians mired in poverty despite the country being Africa’s top oil producer and having the continent’s biggest economy.

President Muhammadu Buhari, a 73-year-old former military ruler, took office in May after winning an election largely fought on his vow to crackdown on corruption.

Since then corruption charges have been leveled against a former national security adviser and a former defense minister, and the president last week ordered the investigation of ex-military chiefs for an alleged arms procurement fraud.

Speaking in the capital, Abuja, to launch a corruption awareness campaign, Information Minister Lai Mohammed told reporters around $6.8 billion was stolen between 2006 and 2013.

“This is the money that a few people, just 55 in number, allegedly stole,” said Mohammed, adding “the time to act is now” to address what he called “Nigeria’s war”.

He gave a breakdown which included the theft of 147 billion naira ($742.42 million) by 15 former state governors, 524 billion Naira ($2.65 billion) by bankers and 7 billion naira($35.35 million) he said was stolen by four former ministers.

“If we don’t kill corruption, corruption will kill Nigeria,” added Mohammed, who did not provide any proof to support the figures he provided.

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Buhari has said his government will recover “mind-boggling” sums of money stolen from the oil sector and that public coffers were “virtually empty” when he took over from his predecessor Goodluck Jonathan.

Buhari’s presidency ended a period from 1999-2015 when the People’s Democratic Party (PDP) was in power. The PDP, now in opposition, has accused the president of mounting a witch-hunt against its members.

Source-myjoyonline.com

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