Arthur Obi Okafor (SAN) Identifies Economic Crime As Reason Nigerians Live Below Global Poverty Index.

A Senior Advocate of Nigeria, Arthur Obi Okafor has identified
economic crimes, fraud and other white collar crimes as factors
responsible for Nigerians living below the world poverty index.

He stated this in a lead paper he presented at the maiden
edition of the Annual Criminal Law Review Conference, put together
by the Rule of Law Development Foundation at the International
Conference Center, Abuja, earlier this week.

According to the learned silk, recent examples of such crimes
which are prevalent in Nigeria and has contributed in no small
measure to the country’s slip into the148th position in the 2017
Corruption Perception Index of Transparency International include
the $ 24 billion NNPC contract scam, illegal reinstatement and
promotion of Abdulrasheed Maina to the position of Acting Director
in the Federal Civil Service, the $43 million, £27,000 and N23
million found stashed away in a flat in Ikoyi allegedly belonging
to the National Intelligence Agency.

Others include the monumental fraud that pervaded the Joint
Admission and Matriculation Board (JAMB), which came to fore after
the surprised remittance of N7.8 billion to the Federal Government
coffers by the Professor Ishaaq Oloyede’s management and the N200
million grass cutting scandal involving Babachir Lawal, former
Secretary to the Government of the Federation.

These crimes, he stated, have a negative impact on the country
and are the major causes of financial loss, poverty,huge debt
profile and economic crisis in the country. He stressed that they
hinder development through reduction in domestic investment,
foreign direct investment, over bloated government expenditure,
distorted allocation of government expenditure away from education,
health and maintenance of public infrastructure.

While commending the prosecution, conviction and jailing of
former governors Joshua Dariye of Plateau state and Jolly Nyame of
Taraba state respectively for corruption during their stay in
office, the silk recommended the non politicization of the fight
against corruption, economic crime and fraud in Nigeria; synergy
among the various anti graft agencies, continuous sensitization of
civil servants and the masses on the negative impact of economic
crimes on the economy, improved welfare of civil servants and
stiffer punishment as the panacea to these nature of crimes in the
country.

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