The Center for Global Peace Initiative (CGPI) gives kudos to the Economic and Financial Crimes Commission (EFCC) over its securing of a court injunction granting it the right to auction a vast estate purportedly belonging to the former minister of petroleum and mineral resources, Mrs Allison Madueke after the expiration of a public notice challenging anybody with claims to ownership of the property to contest in the court of law why the estate should not be sold. The property is valued at over $37 million.
We encourage the Commission to continue the work of tracing properties whose ownership cannot be accounted for as they are evidently the proceeds of ill-gotten wealth.
We charge the Commission to comb thoroughly most of the ‘Estates’ that sprang up in the last few years in the country to fish out wealth whose source cannot be explained as the property sector of the economy remained one of those areas through which ill-gotten wealth including looted public funds are laundered,
We appreciate the indefatigable chairman of the Commission, Mr. Ibrahim Magu for his relentless onslaught against the financial criminals in the nation despite the efforts of certain individuals to frustrate and weaken the resolve of the Commission to carry out its statutorily mandated duty of investigating and eradicating all financial crimes by enforcing all the enabling laws thereby helping to strengthen transparency and accountability especially in the public sector.
The CGPI will also like to see a situation where the Commission leads the initiative in the strategic repositioning of itself via the twin instrument of reform and restructuring to cope with the ever-changing terrain of financial criminality. This is necessary even if it means the employment of experts to carry out an assessment of its current operations and recommend ways of improvement.
Making such a move will forestall the attempt by certain ‘interests’ to silence the Commission with the wielding of the instrument of public trust bestowed on them. Making such a move will forestall the attempt by certain ‘interests’ to silence the Commission with the wielding of the instrument of public trust bestowed on them.
One such initiative the CGPI will like to see was that suggested by it at one of the recent interactive sessions of the Commission with the civil society that the Commission ought to have both ‘representation’ and ‘mechanism’ at the ministries of Finance and Budget and Planning with the view to monitor deployment and use of public funds from source.
We also suggested then a liaison with the National Orientation Agency for proactive public education and enlightenment on the evils of corruption as it has become almost a ‘cultural’ thing. These will complement other efforts such as those of the civil society and expand the frontiers of accountability in our nation.
By Ayinde Yekinni, Executive Director, Center for Global Peace Initiative (CGPI)