Osinbajo-soon i will kick against corruption

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Okafor anene peters

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Vice-President Yemi Osinbajo has predicted that the fight against corruption will continue to get more difficult daily.

He said it would get to a point that many people would become discouraged to stand up against corruption.

Osinbajo said this in his address at the 20th anniversary regional webinar organised by the Independent Corrupt Practices and other offences Commission.

His Senior Special Assistant on Media and Publicity, Laolu Akande, made copies of his remarks available to journalists on Tuesday.

The webinar was titled, “Combating corruption and illicit financial flows: New measures and strategies.”

The Vice-President said, “The fight against corruption is nuanced and hydra-headed, it is not going to get easier by the day; as a matter of fact, it will get more difficult by the day and many will become discouraged in standing up against corruption.

“But it is our duty both as individuals and institutions, especially in developing countries where corruption has such a devastating effect, to ensure that we prioritise the fight against corruption and continually devise new ways and new approaches even as the hydra-headed problem itself continues to manifest in different ways.”

Osinbajo said the regime of the President, Major General Muhammadu Buhari (retd.), had been demonstrating the political will and support for anti-corruption measures, which, he said, had afforded all anti-corruption agencies in the country the latitude to do their work without interference.

Osinbajo said the theme of the webinar was only a reminder that corruption remained a scourge militating against the country’s development aspirations.

He noted, “Over the years, massive public resources and assets have been directly stolen, diverted, deliberately misapplied to gratify corrupt tendencies, stashed in foreign jurisdictions or mired in and susceptible to pilferage by the inequitable and unjust international economic system that continues to undermine the social and economic development aspirations of poor countries, especially from Africa.

“Without effectively combating corruption and IFFs and promoting international cooperation for asset recovery and asset return, Africa cannot achieve the Sustainable Development Goals. Goal 16 of the SDGs is devoted to corruption.”

He said breaking the wall of secret corporate ownership was crucial, especially in developing countries, because secrecy around corporate ownership was implicated in the countries’ underdevelopment.

Osinbajo added, “Although anonymous companies are not always illegal, nevertheless secrecy provides a convenient cover for criminality and corruption.

“Our experience in Nigeria, as in other developing countries, is that anonymous corporate ownership covers a multitude of sins, including conflict of interests, corruption, tax evasion, money laundering, and even terrorism financing.”

The Vice-President disclosed that Nigeria was in the process of amending its corporate law to mandate the disclosure of beneficial interest in a company’s shares and prescribe punitive measures for failure of disclosure.

He added, “We must make corruption expensive for those who engage in it and send the unequivocal message that corruption simply does not pay.

“It is the unenviable but noble task of the ICPC and other anti-corruption agencies to make corruption unattractive to its disciples and facilitate new approaches to stemming IFFS and promoting asset recovery and return.”

Osinbajo added that while many citizens are interested in the fight against grand corruption, they also want to see action in what would be regarded as petty corruption

He added, “We must protect, even more, whistle-blowers – persons who come forward with information against corruption.

“We must protect those who are ready to fight against corruption and who are prepared to do so without necessarily disclosing their identities and even those who are ready to disclose their identities.

“The thing that we must take note of is that corruption fights back. And it is fighting back and it has the resources to do so.”

 

 

Peter Okafor
Peter Okaforhttp://Naija247news.com
Peter Okafor Financial Journalist | Editor | Contributor Overview: Peter Okafor is a seasoned Financial Journalist, astute Editor, and valued Contributor at Naija247news Media Group. With an unwavering passion for dissecting complex financial landscapes, Peter has become a trusted name in delivering incisive and insightful coverage of economic events, market trends, and corporate dynamics. Professional Journey Peter's journey in financial journalism has been marked by a commitment to excellence. Joining the ranks of Naija247news, he has consistently demonstrated a keen understanding of the intricate interplay between finance and the global socio-economic fabric. Expertise: Specializing in financial markets, economic analyses, and business developments, Peter Okafor has honed his expertise over the years. His ability to unravel intricate financial narratives and present them in a comprehensible manner sets him apart in the world of financial journalism. Contributions As an Editor and Contributor, Peter has played a pivotal role in shaping the narrative of Naija247news. His contributions extend to thought-provoking articles, in-depth market analyses, and coverage of key events that impact the financial landscape. Educational Background: Peter holds a degree in Journalism, complemented by specialized courses in Finance and Business Reporting. His educational foundation has provided him with the tools to navigate the intricate world of financial journalism. Innovation and Adaptability: In an era of evolving media landscapes, Peter Okafor exemplifies innovation and adaptability. Leveraging digital platforms and emerging technologies, he ensures that financial insights reach a diverse audience, fostering financial literacy and awareness. Awards and Recognition: Peter's commitment to journalistic excellence has not gone unnoticed. He has been the recipient of several awards, recognizing his outstanding contributions to the field of financial journalism. Vision for the Future: Looking ahead, Peter Okafor envisions a future where financial journalism continues to empower individuals, shape economic policies, and drive positive change. His dedication to staying at the forefront of financial news underscores his commitment to this vision. Connect with Peter Okafor: - LinkedIn: [Peter Okafor](#) - Twitter: [@PeterOkafor_N247](#) In the dynamic realm of financial journalism, Peter Okafor stands as a stalwart, combining experience, expertise, and a forward-looking vision to illuminate the path of financial understanding for a global audience.

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