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Nigerian leaders stole $20-trillion


- Wale Haastrup

( Monday, September 25, 2006 )

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"The EFCC boss said it was saddening to know that the bulk of the $20-trillion stolen came after year 2000."


About $20-trillion had been stolen from Nigeriaís coffers by leaders who had access to the nationís money between 1960 and 2005.

This was disclosed by Dapo Olorunyomi, chief of staff to the chairman of the Economic and Financial Crimes Commission (EFCC) at a function in Lagos.

Olorunyomi, who was speaking at the yearly Dinner/Re-union of the Lagos State chapter of the University of Ilorin Alumni Association, said the figure was sourced from the records of the United Nations Development Programme (UNDP).

Olorunyomi said the amount was six times the amount needed to rebuild Europe after world war two.

The EFCC boss said it was saddening to know that the bulk of the $20-trillion stolen came after year 2000.

"It is rather appalling that as at year 2000, record showed that $100-billion had been stolen, with an external debt of $33-billion", Olorunyomi said.

Olorunyomi said the central problem facing the nation was that of governance, "Leaders are just looting, not caring for the people that they are expected to provide basic amenities for".

He challenged Nigerians to wake up to their responsibilities, "as the looting spree of our leaders has now constituted itself into a national problem, which is very bad for our economy. I want the public to help in the fight against economic and financial crimes, please, do not leave it for the EFCC only".

He encouraged the association members to go into their offices and homes to impact the drive to do away with economic crimes in the society.

This is coming at a time when there are allegations against the president and his vice, bothering on economic crimes.

Source: BusinessDAY

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