Buhari needs to be careful because,
“It is estimated that money deposit banks will lose over a trillion Naira funds. Many of the banks have started bracing up for this eventuality by down-sizing or right-sizing, a euphemism for retrenchment, which will further worsen an already bad situation of massive unemployment. Therefore, an adroit management of the economy that manifests in a balancing act that takes all contending issues and forces into consideration will have a more salutary effect on the economy than a one-way traffic, jackboot policy that may result into cutting the nose to spite the face.”

By Bolanle Bolawole.

I feel strongly about the present administration’s war against corruption that I have decided to think aloud on some salient aspects of it. I wish that the right template is set for the war so that the pitfalls of our recent past can be avoided and the anti-corruption drive made a roaring success. Fearful that the war as currently being waged could end up in acrimonies, I have chosen to take the risk of doing the unpopular here today, believing that we still have a significant section of the reading public that is discerning and which is, therefore, able to give this piece the careful consideration it deserves. But in the event that this hope is misplaced for whatever reasons, I have set my mind to travel this road all the same, even if hard and lonely, believing with the late sage, Chief Obafemi Awolowo, that light beckons at the end of the tunnel. Ibsen, the German writer, says the strongest man is he who stands alone – especially on principles. We should get the template of this anti-corruption war right from the very outset so it does not become so much sound and fury but signifying little or nothing in the end.

There are two sides to the anti-corruption war: To block all leakages; and to recover looted funds. The Treasury Single Account policy is, perhaps, the central measure aimed at achieving the first objective; noble as it may look on the surface, it has drawbacks that are already sending alarming signals down the spine. It is estimated that money deposit banks will lose over a trillion Naira funds. Many of the banks have started bracing up for this eventuality by down-sizing or right-sizing, a euphemism for retrenchment, which will further worsen an already bad situation of massive unemployment. Therefore, an adroit management of the economy that manifests in a balancing act that takes all contending issues and forces into consideration will have a more salutary effect on the economy than a one-way traffic, jackboot policy that may result into cutting the nose to spite the face.

It is good not only to go after looted funds but to also mete out appropriate punishment to the culprits to deter others. The other side of the coin, however, is that the processes involved are not as simple and straightforward as they appear on the surface. Stolen funds are difficult to track; expensive to locate and retrieve; and getting the support of foreign countries and international organisations does not come easy. Worse is that it is time-consuming. Fears have been expressed that Buhari is spending a disproportionate part of his time chasing stolen funds to the detriment of governance. If the trend continues, we may in the end be kobo wise but Naira foolish. Effective governance must not be sacrificed on the altar of chasing after looted funds and should one threaten to stand in the way of the other, I will suggest we adopt the time honoured aphorism that “prevention is better than cure”.

Many critical stakeholders needed to sign up for the anti-corruption war are simply not doing so, leaving only noise-makers (apologies, Buhari!) to amuse themselves with public rallies and street parades all over the country. Politicians across board are not supporting the war against corruption, save by mere rhetoric. Evidence: They have emphatically refused to emulate Buhari and Osinbajo and declare their own assets publicly. Buhari and Osinbajo are the two-man riot squad in their vaunted war against corruption. APC governors, legislators and party leaders have declined to declare their assets publicly. Yet, this is the course of action expected of them if, truly, they mean to be the true harbingers of the CHANGE they vociferously trumpeted from the rooftop.

As things stand, Buhari and Osinbajo are like Generals without troops. If, in an APC-led government, APC leaders will not lead by example, is it APGA or PDP that will do? I therefore suggest that the following categories of officials and politicians be compelled to make a public declaration of their assets if the much talked-about war against corruption is not to end up a ruse. One: Buhari’s and Osinbajo’s spouses and adult children. Our experience here has been that leaders hide much of their ill-gotten wealth under the cloak of friends and family members. Two: All political appointees. In fact, this should be a condition for anyone who accepts such appointments. Three: All elected officials at Federal, State, and Council levels. Four: All heads of Ministries, Departments, and Agencies of the three tiers of government. Five: All top civil servants from the level of Assistant Director. Six: All judges and judicial officers. Seven: All heads and principal officers of the anti-corruption agencies. Eight: Heads of military and para-military forces; and, finally, all national leaders\officers of the ruling party (APC).

A new but dangerous development is the tiny group of influential individuals that are believed to have thrown a cordon solitaire around the president. Some reports say they are the most vicious, feudal, conservative, and reactionary section of the Kaduna Mafia that someone described as the “Old School”. The hand of this group has been reportedly uncovered in many of the controversial appointments that Buhari has made. I propose that these gentlemen should take off their cloaks and emerge in the open. Lobbying is a legal and respectable professional in many democracies; the United States of America in particular. Let our own influence-peddlers and lobbyists come into the open to avoid conflict of interest. They should register with the Corporate Affairs Commission and pay taxes to the state on the kills they make. We should avoid the pitfalls of the past by not replacing the Edwin Clarks and Asari-Dokubos with, perhaps, much more vicious characters from another section of the country.