ONE OF THE FIRST priorities Nigerian President Muhamadu Buhari embarked on after winning the presidency more than a year ago now and taking office in May 2015 was to go after billions of dollars in assets stashed away by previous leaders of Africa’s most populous nation.
PRESIDENT BUHARI, who was elected on an anti-corruption ticket immediately wasted no time in just not words but in action, as his government began cracking down on graft in various sectors of the government.
THE CRACKDOWN led to several high-profile figures—including the former National Security Advisor, Sambo Sasuki, and Senate President Bukola Saraki being put over corruption charges.
ALTHOUGH BOTH MEN have denied the charges, Buhari had sent a signal that he was out for business and is leaving no stone unturned.
SIMILARLY, LIBERIAN President Ellen Johnson-Sirleaf rode on an anti-graft campaign En Route to winning the Liberian presidency.
HER INAUGURAL SPEECH on January 6, 2006 was filled with a continuation of her campaign pledge to weed out graft as she acknowledged that in order to achieve economic and income distribution goals, it was necessary to take on forcibly and effectively the debilitating cancer of corruption. “Corruption erodes faith in government because of the mismanagement and misapplication of public resources. It weakens accountability, transparency and justice. Corruption short changes and undermines key decision and policy making processes. It stifles private investments which create jobs and assures support from our partners. Corruption is a national cancer that creates hostility, distrust, and anger. Throughout the campaign, I assured our people that, if elected, we would wage war against corruption regardless of where it exists, or by whom it is practiced. Today, I renew this pledge. Corruption, under my Administration, will be the major public enemy. We will confront it. We will fight it. Any member of my Administration who sees this affirmation as mere posturing, or yet another attempt by yet another Liberian leader to play to the gallery on this grave issue should think twice.”
IN THE DAYS and months following Sirleaf’s inauguration, corruption eroded public confidence in government as graft endured a radical period of uncertainty: From the now infamous “three-times more corrupt” declaration by former Auditor General John Morlu suggesting that the Sirleaf administration was worst-off than its predecessor the interim-government-led by Charles Gyude Bryant to its transformation into vampire, graft has eaten at the core of Liberia’s post-war resurgence and kept the country’s progress in neutral on many fronts.
ANTI-GRAFT BODIES which played a key role in the country’s debt relief effort and Heavily Indebted Poor Countries (HIPC) accomplishments have been watered down and more than 100 audits remain untouched with very little efforts to prosecute.
MORE IMPORTANTLY, the Sirleaf administration has failed to take advantage of openings in new Swiss laws to pursue funds stashed away by former leaders and officials.
IN CONTRAST, Nigeria is in the process of recovering more than $10 billion in cash and assets, a year after President Muhammadu Buhari came to power and launched an anti-corruption drive.
IN FIGURES released Saturday, the country’s information ministry said that, in terms of cash recoveries, 78 billion naira ($391 million) had been accounted for, as well as US$185 million, £3.5 million ($5 million) and 11,250 euros ($13,000).
THE GOVERNMENT ALSO included in its figures recoveries under interim forfeiture—assets and cash that have been temporarily frozen or held by the government while a trial is ongoing. These total 127 billion naira ($640 million) in the Nigerian currency, in addition to US$9.1 billion, £2.5 million ($3.6 million) and 303,000 euros ($340,000).
TODAY, THE Nigerian government is awaiting the return of $321 million from Switzerland, as well as £6.9 million ($9.9 million) from the U.K. and smaller amounts from the U.S. and United Arab Emirates (UAE). Switzerland has agreed to cooperate with Nigeria in the return of the funds, which were confiscated from former Nigerian military ruler Sani Abacha.
BUT NIGERIA IS NOT ALONE. In 2011, Switzerland moved hours after Egyptian President Hosni Mubarak announced his resignation, to freeze all the money he held in the country’s banks. Those funds were sent back to Egypt.
THE ACTION BY the Swiss government is part of a legislation that makes it increasingly difficult for plundering rulers to open accounts in Switzerland or lay claim to the assets hidden therein. The Restitution of Illicit Assets Act (RIAA) allows the government to immediately freeze and confiscate the funds of “politically exposed persons,” even if the implicated nation has not asked for the money back. Once returned to their country of origin, the funds must be used to improve quality of life, strengthen the judicial system, and fight crime.
EARLIER IN 2003, the Swiss, acting on a request from the Special Court for Sierra Leone, froze some $1.5 million in the bank accounts of two persons linked to embattled Liberian President Charles Taylor The move to freeze some 2 million in Swiss francs, triggered the Swiss Ministry of Justice’s order that all bank accounts belonging to Mr. Taylor, his relatives and close associates be scrutinized and the assets frozen or blocked.
LAWYERS WHO HAVE HELPED Nigeria recover loots have expressed to FrontPageAfrica a willingness to assist Liberia but very little effort appears to have been made to recover assets of former officials and leader believed to be in foreign accounts.
THIS IS WHY WE are impressed by President Buhari’s moves and hope that the Sirleaf administration can take note and perhaps begin to look into how it too can begin the process.
WHAT MAKES THE NIGERIAN example unique is the deterrent factor; officials who knowingly stash away wealth in foreign bank accounts will be keen to exercise caution if they know that governments whether current or future will go after those funds and try to return them to the people they were stolen from.
BUHARI USED HIS APPEARANCE at an anti-corruption summit in London in May—prior to which British Prime Minister David Cameron referred to Nigeria as “fantastically corrupt”— to urge the international community to help with the return of stolen funds to his country.
NIGERIA IS IN NO way a saintly West African nation without flaws but the steps being taken are commendable and one Liberia can take cue from by putting a halt to lip service and turning fiery words into action in a bid to not just recoup stolen wealth but also to build a wall of deterrence and put thieves of government resources on notice that they will not get away with sticky fingers robbing Liberia of much needed resources that could contribute immensely to the country’s post-war development.