President Muhammadu Buhari has said the international community is not doing enough to boost the war against corruption.
Speaking yesterday at the anti-corruption summit hosted by Prime Minister David Cameron of Britain, Buhari, who stressed the need for the international community to step up and tackle corruption together, said:
“When it comes to tackling corruption, the international community has unfortunately looked away for too long. That is why we have gathered here today. Corruption creates a system where resources are shared by a small elite while the majority wallows in poverty. Corruption also undermines the ability of countries to finance development. I recall in this regard, the landmark Addis Ababa Action Agenda of the 3rd International Conference on Finance for Development held in January this year.
He said it was for this reason that his administration was determined to address illicit financial out-flows which had served as a major impediment to Nigeria’s progress.
Buhari reiterated his government’s demand that the global community must come up with mechanisms for dismantling safe havens for stolen funds and facilitate the return of stolen assets to their countries of origin.
He urged the international community to urgently create anti-corruption infrastructure and a strategic action plan to facilitate the speedy recovery and repatriation of stolen funds hidden in secret bank accounts abroad.
According to Buhari, Nigeria loses about $7bn to crude oil theft annually. He said in furtherance of his administration’s anti-corruption war, Nigeria would soon begin the full implementation of the principles of the Open Contracting Data Standard.
Buhari said the federal government would apply the Open Contracting Data Standard on major projects in the oil, transportation, power, health, education and other sectors.