Recovered Loot: Government Must Conduct Audits of Past Recoveries

The alleged return of looted funds recovered by the Special Investigation Panel for the Recovery of Public Property under former President Muhammadu Buhari is a dent in Nigeria’s corruption fight and must be investigated by the current administration.

Development Diaries reports that the former chairman of the Special Investigation Panel for the Recovery of Public Property (SPIP), Okoi Obono-Obla, has claimed that the loot retrieved by his panel was given back to the looters under former President Buhari.

SPIP was an independent investigative panel set up by the Buhari administration to recover stolen property and assets belonging to the Nigerian government.

This allegation, if proven to be true, undermines the very essence of anti-corruption efforts in the country. Looted funds, often embezzled from public resources, should be directed back into the nation’s economy to fund essential services and development projects.

Returning these assets to the individuals or entities that initially misappropriated them negates the punitive measures that should accompany such illegal acts and also shows that corruption can be mitigated without significant consequences.

Since it has been established that the Buhari administration failed to fight corruption, supposedly the bedrock of people’s trust in him, under the leadership of President Bola Tinubu, the current administration must take decisive action to ensure that recovered loots are not only safeguarded but also transparently and effectively utilised for the public good.

At this point, strengthening anti-corruption institutions and enhancing transparency in governance is crucial for the present administration in order to foster a culture of accountability.

Following this revelation, Development Diaries calls on President Tinubu to order thorough audits of past recoveries, and hold accountable those responsible for the return of looted funds, alongside implementing robust mechanisms to prevent any recurrence.

The only way the government can rebuild public trust and show that it is steadfastly committed to fighting corruption is by taking these steps.

Photo source: Bola Tinubu


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