PRESIDENT BUHARI MUST FIGHT ECONOMIC TERRORISTS. Femi Ojo

Picture courtesy of Premium Times

The tasks before President Buhari are enormous, the country’s wobbling economy is one herculean task that the President must confront, the wanton destruction of lives and properties in the North East is not a child’s play for Mr. President, the high-wired politics and internal dynamism of his ruling APC party is yet another challenge that his administration must manage effectively. Now the honey moon is over for the President and it is time to roll his sleeves and let the nation know his economic blue print for Nigeria. The recent globetrotting to seek international supports and partnership is good but the new government must think outside the box and confront the country’s challenges with home grown remedies. The expectation of some Nigerians on the ministerial nominees have been cut short and some said the President has done well. The President has no excuse to offer Nigerians should some of these would be ministers walk in the familiar political path, the only thing Nigerians hope to see are political miracles to many economic problems confronting the nation.  

As the President is methodologically unfolding the policy thrust of his government and strategically fashioning out new ways to block loopholes in the economy amidst many challenges and as he plans on how to increase revenue in the current face of dwindling funds, there is an area where the new government should strongly look at, in ensuring that the economic growth is stimulated urgently. The President can, in addition to blocking economic loopholes, tightening of loose ends and experimenting on new economic policies, wage a very strong war against economic terrorists, who have looted public funds and laundered the same abroad. Although, Mr. President’s body language is clear on zero tolerance to corruption and we are beginning to see few politicians tried for many alleged corruption cases. Mr. Buhari can as well, increase the revenue of the government by ensuring that all known looted funds by present and past politicians are brought back to the country for development purpose.

It is no doubt that Nigeria’s looted public funds are scattered around western nations, some millions dollars of Abacha’s loots are still in foreign banks and no doubt, there are many more politicians like Abacha in the recent democratic experiment, who have also acted the way of the late despotic ruler, that have laundered public funds in foreign banks helping the economies of those countries while Nigeria’s economic is in state of obscurity. It is my opinion that the new administration can adopt the below strategies, to recover the country’s stolen funds abroad.

Buhari Should Identify Places Where Nigeria’s Looted Funds are lodged

I am of the opinion that Mr. President should firstly identify countries where Nigeria’s looted funds are lodged all around the world. The first step is to know where these funds are domiciled and what amount and by whom? By doing this, the President will know how to move strategically to demand for the repatriation of those looted funds. Mr. President should strongly look at Britain and Switzerland and many other countries when it comes to Nigeria’s looted funds abroad!

Mr. President Must Partner with International Crime Agencies and Organizations

To bring back Nigeria’s stashed looted funds abroad, Mr. President must understand that collaboration with international crime agencies and organizations are inevitable. With full understanding of the international laws on money laundering, the government can partner at various level of international relations to bring back stolen money abroad. At the bilateral, regional, international and global levels, Mr. Buhari should effectively partner to speed up the processes of releasing such funds to Nigeria.

Buhari Must Appoint a Sound Foreign Affairs Minister with Solid International Relations Clout

Yes, the would-be foreign affairs minister must be a sound mind, who possess the international clout to rally international supports for the president’s agenda of recovering international looted funds. The new foreign affairs minister must be someone who believes in the new mantra of change in Nigeria and should be able to link such philosophy to all international political actors in the global village. The incoming foreign affairs minister must be able to pursue vigorously the new economic recovery policy thrust of the government on laundered money abroad clearly.

More than Ever Before, Buhari Must Strengthen the Judiciary

If this new government means business with the hyped mantra of “change”, one area where this change should be felt is in the judicial arm of government. In recovering stashed funds abroad, the judicial arm of government is an indispensable ally. The incoming Attorney General must be a man who stands above board and who is ready to give support in ensuring that justice is not delayed and denied. There must be swift and sound interpretation of the laws relating to money laundering and must be able to render sound legal advice to the President on how to effectively collaborate on international legal issues on money laundering.

Nigerians Must also Help the President!

It is a pity that we are in a society that glorifies ill-gotten wealth. We worship material things. At our altars in the religion circles, some men of God, bless and pray for glaring political thieves who everyone knows have milked the nation dry. Our people hail them, our youths decorate them with many awards for characters that are not truly honourable. Such is the pitiable state of our society’s support for our thieving politicians which must stop in the new era of “Change”. Our society therefore must embrace the new era of ‘change’ by changing our immoral philosophy of glorying known thieves home and abroad.