Femi Falana Indicts World Bank For Grand Corruption In Nigeria, By Abiodun Oluwarotimi, Leadership, Nigeria, 21 August 2012

21 Aug


Human Rights lawyer, Barrister Femi Falana (SAN) has accused the world bank for grand corruption in Nigeria.
According to the human rights lawyer in a statement obtained by our New York Correspondent on Tuesday, the World Bank has just issued a damning report which claimed that 80% of Nigerian businesses offer government officials bribe to facilitate deals.
“While recognising that Nigeria remains the most attractive investment destination in África the report noted the high proclivity for bribery and corruption among Nigerian businesses. Although  the report may be an understatement of the rate of endemic corruption in Nigeria  the World Bank has failed to trace the root cause of the menace. Hence the Bank is not prepared to suggest  measures that can arrest the growing wave of corruption in the country”

“No doubt,  there was corruption in Nigeria up to the 1980s. But it was not so prevalent at the time because the State funded the welfare of the majority of the people, provided social services at affordable costs  and created jobs for the unemployed. Education was virtually free while health services were affordable. The Naira was higher than the United states dollar in the foreign exchange market”

“Although it was a neo-colonial capitalist economy which enriched a few at the expense of the nation there were some safety nets for the masses. The Nigerian Government placed emphasis on the building of an egalitarian society in line with the extended family system of the African people”Falana further said that: “However,   the introduction of the Structural Adjustment Programme which was instigated by the World Bank and the International Monetary Fund ruined the Nigerian economy completely and destroyed the morality of the society.

With retrenchment of workers, abolition of marketing boards, commercialisation of social services, sale of the assets of the nation, trade liberalisation, currency devaluation and other dangerous components of SAP mass poverty became the order of the day”
“The middle class was  wiped out while the manufacturing sector became extinct. In the process corruption became the directive principle of state policy under the Ibrahim Babangida junta. Successive regimes have since then consolidated on official corruption”He continued that a from  condemning corruption the World Bank and Western Governments including the Barrack Obama Administration have continued to insult the African people on the issue of corruption, stressing that stolen wealth from Nigeria and other third world countries to the tune of over a trillion dollars  is received and kept in the vaults of western banks in violation of the provisions of the United Nations’ Convention Against Corruption.

“For instance,  the British judge who jailed Chief James Ibori, ex-governor of Delta State made racist remarks as if Africans are congenitally corrupt. But the British banks and mortgage institutions which facilitated the suffering of the people of Delta state through money laundering and fraud by Chief Ibori  were not sanctioned”
“Was the governor of Illinois, Mr Rod Blagojerich not jailed for selling Barrack Obama’s senate seat in Chicago? Has the World Bank held the American Government vicariously responsible for the criminality of its officials” he said.”With respect to corruption in Nigeria why has the World Bank not condemned foreign companies like Halliburton, Wilbros, Siemens, Julius Berger and others  which have been indicted and penalised for perpetrating for large scale corruption in Nigeria?

The NEITI has just disclosed that foreign oil companies have duped  Nigeria to the tune of over $2 billion. Instead of assisting Nigeria to recover such huge fund the World Bank would prefer to package  jumbo loans for the Federal Government with fraudulent conditionalities.
Why has the World Bank not supported the current Minister of Agriculture, Dr Akinwumi Adesina who is determined to arrest the reckless importation of food at billions of dollars per annum”Barrister Falana also warned the World Bank to stop writing hypocritical  reports on corruption emanating from the neo liberal policies being sheepishly implemented by the Federal and state governments at its own behest, adding that the Goodluck Jonathan Administration should be told that  no Government which operates an economy on the basis of market fundamentalism can curb corruption.

“This is the basis of the virtual collapse of the economy of Portugal, Italy, Greece and Spain (the “PIGS”)which has defied the prescriptions of the World Bank and the  International Monetary Fund”
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Posted by on August 21, 2012 in Uncategorized


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