Honourable Uzoma Nkem Abonta is a member of the Federal House on Representatives, representing Ukwa East/West in Abia State. In this interview with our reporter, speaks on several issues, ranging from the ongoing constitution review and various government policies, to corruption. Excerpts:
Ongoing Constitution Review
The problems confronting the constitution review are the usual legislative problems. The constitution is made in such a way that it is very rigid and difficult to amend. With the way we are going, I will give the National Assembly credit for what has been done so far. But I also have my fears being a Nigerian, a constitutional lawyer; being a student of political history and given the way Nigeria is structured.
If you follow the history of Nigeria and all our efforts at constitution making, you will see that it is going to be a herculean task. We have 36 states and we have diverse interests. You know the composition of the National Assembly as well as I do and how some people view issues from sectional perspectives rather than from the standpoint of national interests.
Therefore, do not expect that the ongoing amendment will be easy. In the last dispensation, the National Assembly, in its wisdom, granted financial autonomy to the State Houses of Assembly but the same legislators in the states voted against it.
Now we are talking about granting a similar autonomy to the local government councils. In the course of the public sessions, most of the local governments voted for this autonomy but today the argument seems not to be in favour of that decision. The issue is that the powers that be seem to be working against that proposal.
The postponement of the public presentation of the report of our nationwide public sessions is not a problem because the position of the 360 constituencies were taken publicly and therefore already public documents. The major challenge will come when an issue such as the Land Use Act comes up. You know some people might not want it removed from the constitution. If it comes to a matter of voting, you know the composition of the House. Numerically, Kano, Kebbi and Jigawa are bigger than the five states of the South East geopolitical zone. So if some people do not want certain amendments and it is one man one vote, there is no way it can go. However, I do not want to be a prophet of doom. I have the hope that we will get there. If we do not succeed in amending all the sections we want to now, there will at least be substantial amendment. We should not lose hope. In amending the constitution, we must create awareness about the issues at stake.
We must also have the political will to go all out because it will hurt the powers that be in the system. It will not easy to retrieve from the mighty. It must be something that must be contested vehemently. The task of constitutional amendment is not just for the legislators; the media and the civil society groups must play their own roles of sensitising and mobilising the people.
Local Government Autonomy
I will give you the answer from two perspectives: as a Nigerian and as one who has been a councillor. In 1991, I was a councillor and leader of the Legislative Council in Ukwa-East Local Government Area of Abia State. If you don't grant autonomy to local government councils, they will still remain an appendage of the state governors.
Today, a local government chairman does not have a say in what goes on at the council. Although he is the head of the third tier of government, he cannot say no to the governor of the state.
In 1991-1993 when we were there, the situation was better than it is today. I cannot hold the chairman of my local government accountable now because he is only there at the mercy of the state governor. Until the two tiers are separated and each is given specific roles, the problem will remain.
Most importantly, there should be financial autonomy for the local government councils and that means the State/Local Government Joint Account should be abolished. Let this account be separated so that councils can get their funds directly and be free to pursue development according to the needs of their people and not according to the dictates of the state governors. Councillors should be able to vet the budget of the councils just like the National Assembly does to the federal budget.
Today, a lot of things happening at the local government level come from the Commissioner for Local Government and Chieftaincy Affairs, an appointee of the state governor. This is why the governors wouldn't want to let go until Nigerians put up a fight. As a lawyer, I also know that if you give the councils full autonomy without checks, we will also whittle down the essence of federalism. True federalism recognises two components: the centre and the component states. It does not recognise the local government as a tier. Therefore, in giving autonomy to the local government, we must be very careful and define the extent of the autonomy. It is desirable and proper to grant them autonomy because it will foster development and stabilise our democracy.
Revenue Allocation Formula
The revenue formula in use today is more political than economical. In my own view, we should and we must revisit that revenue allocation formula.
We are running a federal system that harbours a lot of unitary principles where too much power is left at the centre and so little is granted to the states and local government councils. A situation where the federal government keeps over 50 per cent of the revenue to itself speaks volumes that federalism is not working in Nigeria.
If you look at Nigeria, the Federal Government should be concerned with administering Abuja from where it can be issuing authority to the larger part of the country, the component states. Between these two tiers of government, who should be getting more? Is it the small secluded centre or the states?
I think that the allocation to the states and local councils should be increased while the Federal Government should keep less revenue for its administrative purposes. The current formula has made many states dormant; they’re always only waiting for the federal allocation. They have ignored their internal revenue sources. The non-economic structure based solely on oil has not helped matters and I think the issue of derivation should be revisited.
We had a regional arrangement before Nigeria gained independence and each region was made to develop its own economy based on cash crops, such as cocoa, oil palm and groundnut. So I am of the view that the National Assembly should strive to review the revenue allocation formula so that the component states of the federation will emerge stronger.
NITEL Privatisation is fraud. The essence of privatisation is to make public corporations work better to the benefit of the people. But in our own case, almost all the public corporations that were privatised have become worse than they were before they were sold. The corruption that has bedevilled Nigeria is also trailing privatisation. The money set aside to pay the disengaged NITEL workers is not enough to pay them.
The problem is that the Federal Government wants to auction NITEL for peanuts. How much was the licence granted the GSM companies? It was about $280 million and yet government wants to sell the entire NITEL with MTEL and its other components for less the cost of the license given to the new companies.
NITEL has the largest optic fibre network across Nigeria. It is everywhere and no country abandons such an investment in preference for the GSM companies especially when you consider the national security implications of selling off such a strategic firm.
My position is that government should revive NITEL rather than sell it. If the Central Bank of Nigeria could stake more than N1 billion to support failing banks belonging to private individuals, why can't we do the same to revive NITEL as a national carrier?
Corruption
I make bold to say that corruption is the problem of Nigeria. Peter Tosh once said that everybody is talking about the criminal; who then is the criminal?
Nigeria is a very corrupt society and we are not fighting corruption. We are romancing with corruption; we are sleeping with corruption; we are celebrating our Valentine’s Day with corruption and doing everything with corruption. Corruption is fast becoming a norm in Nigeria. President Goodluck Jonathan must sit up and fight corruption; the war must start from the Villa. We need a very radical leader who will fight corruption.
The Asian countries of China, Singapore, Malaysia and Indonesia were more corrupt than Nigeria until one day when their leaders rose to the challenge and introduced capital punishment as penalty for corruption.
As soon as the law came into force, anyone caught stealing public funds or engaging in any form of corruption was either hanged of shot dead. Today we talk about the Asian Tigers because their leaders decided to have zero tolerance for corruption.
But here, our laws are loose and some of us would not mind going to jail and coming back to inherit N10bn. We know that you can even steal billions and just pay a paltry fine and go home to enjoy your loot. I make bold to say that civil servants are the worst problem of Nigeria. I call them “evil servants” because they are not civil in any way.
Once you are appointed a minister, they send you one big memo; they tell you how you can buy a house where you will live. Once you sign that memo you are finished. Look at our annual budgets; the amount of money spent in the month of December is greater that all the money spent in the remaining part of the year. Why is it that under personal and overhead costs, all the funds must be finished at the end of the year?
They told us they discovered 45,000 ghost workers in the Civil Service. How many are the civil servants if 45,000 are ghosts? In all these, no one has been punished and we have directors and permanent secretaries in those ministries. I think that something drastic has to be done.
Corruption has become endemic here and it is not found only among civil servants. Even other members of the society like market women are involved. Go to the market to buy garri and they will sell to you with falsified measurements. It is corruption at that level. It is not only among people in government that you find corruption. We have had several investigations but nobody has been jailed.
It is so bad that people now think that the best way to be rich and popular is to engage in corruption. When you are arrested and taken to court you enjoy free publicity and. After that, nothing happens; and you go home to enjoy your loot. The few that even went to jail came back and are now eminent persons deciding the fate of Nigerians instead of burying their heads in shame. In other countries, they would have been hanged for their crimes.
I am not saying that we must apply capital punishment but we must try to do something that will show that we have zero tolerance to corruption. We need ethical revolution, starting from the market women, school children, civil servants and even to the politicians. The greatest number of empty houses in Abuja is in Asokoro and Maitama districts. Nobody is occupying them because they are not affordable and their owners are not bothered about it. Who owns them? Civil servants. If they pay you your salary 20 years up front you cannot afford those houses. So, how were these civil servants able to acquire them? This is why mass housing or low-cost housing schemes have not worked.
When government designs low cost housing projects, the high-cost people will acquire them all and then rent them to the low-cost people. Why won't there be corruption when on the average a two bedroom apartment in Abuja goes for N1.5m? With your salary, can you live there? You must go to the suburbs of Nyanya and Mararaba where you also pay as much as N700,000 for a two-bedroom apartment. This is also expensive and if you want to live in such a place, you must also find a way to make ends meet.
If we must curb this kind of corruption, then the EFCC must do its work by ascertaining who owns which house, how was it acquired and what revenue it is yielding to the government.
In other countries such as South Africa when you drive a very flashy car you could be flagged down by tax officers who would want to know your identity, what you do for a living and whether you have been paying your tax to the government. In Nigeria, I can just buy my jet and start flying it. Nobody will ask: how did you get it? The Federal Government must take a holistic approach in tackling corruption.
President Jonathan must take a deeper look at the issue and ensure he tackles corruption with all sincerity not minding whose ox is gored. He should get some radical young men who are sincere and understand the magnitude of the problem to sanitise the system.
Capital Market
The issue of the capital market has remained very topical. During the controversy, the leadership of the House, in its wisdom, asked the Capital Market Committee to step aside for an interim committee to investigate the collapse of the capital market. This was to allow fair hearing on the issues. The Ad-hoc Committee concluded the investigation and also laid the report before the House.
The capital market and its institutions are still functioning, but because of the prolonged problem between the House, Arunma Oteh and the Presidency, we declared the DG persona non grata. We still do our oversight over the capital market institutions but the House said we will have nothing to do with SEC as long as Oteh remains there. The House has forwarded its resolution to Mr. President for implementation.
Though he is yet to take action, I assure you that the House will not toy with the capital market because it is also one of the indices of monitoring our economy. It is one way to attract investors and grow our economy. It is not in our interest as a country to allow the capital market crash. Right now we are talking with the Abuja Commodity Exchange Market which is one of the institutions in the sector. They have some challenges and we are trying to see how we can fix the problems.
Legislative matters
Most of my bills have been passed by the House and sent to the Senate for concurrence. You know how slow lawmaking is: first, second reading, committee stage and then to the whole House before passage. It takes an average of two years to have a bill turned into an Act but we will not relent in our efforts to make laws for good governance of the country.
My interest has been on alternative source of revenue outside oil. So my bills revolve around agriculture and the capital market. Quite a number of my bills have been concluded in the House and sent to the Senate for concurrence but I am aware that none has been sent to the president for assent.
 |
|
Gunmen believed to be kidnappers attacked a commercial vehicle belonging to Benue Links, the state-owned transport company.
About 17 candidates travelling to Otukpo for their examination centres in the ongoing Unified Tertiary Matriculation Examination (UTME) are feared to have been abducted, although the exact number of victims remains unclear.
Information available to our correspondent says that the incident took place between 7–8 p.m. on Wednesday, April 15, along the Benue Burnt Bricks in Otukpo, Otukpo Local Government Area (LGA) of Benue State.
According to sources, the assailants waylaid the bus and robbed the occupants of their belongings before whisking them away into the bush.
An eyewitness, who spoke to journalists on the condition of anonymity, said the Benue Links bus, which was conveying about 18 passengers, ran into the kidnappers at about 8:00 p.m. on Wednesday night.
“The passengers were mainly young persons heading to Otukpo to sit for the JAMB examination scheduled for Thursday.
“Two people, the driver and one passenger, managed to escape. Incidentally, the passengers were mainly young men and women who travelled to sit for the JAMB examination scheduled for today (Thursday),” he said.
When contacted, the General Manager of Benue Links, Mr Alexander Fanafa, confirmed the incident, noting that the driver of the bus is presently undergoing interrogation at the police station in Otukpo for violating the company’s safety policy not to travel beyond 6:00 p.m.
He said, “As I speak with you, the driver has been arrested and is under investigation for traveling against company directive. I have warned all drivers to stop night journeys, as they would be held as first suspects if anything unfortunate happens.”
The General Manager further stated that the driver took his vehicle and loaded the passengers who were heading to Otukpo after official hours when the park manager, Mr Amedu, had closed, and ran into trouble, so he has been arrested.
The Executive Chairman of Otukpo Local Government Council, Prince Maxwell Ogiri, confirmed the incident, saying that it occurred between 7 and 8 p.m. on Wednesday.
He added that security agents have been mobilized to rescue the victims, stating that the victims are all young people coming to Otukpo to write JAMB examinations.
“It is true, I’m just coming out from a security meeting, and security operatives have been moved into the forest to help rescue the kidnapped victims.
“The victims are mainly young boys and girls coming to Otukpo to write JAMB,” Ogiri said.
However, when contacted, the Benue State Commissioner of Police, Ifeanyi Emenari, confirmed the situation, but said 14 passengers were kidnapped, while one passenger escaped.
The commissioner disclosed that he had already arrived in Otukpo and is conducting the rescue operation.
“I am in Otukpo now with all my team and DPOs who are here in the bush, and I am heading the operation.
“What happened was that one Benue Links bus carrying passengers coming to Otukpo was stopped and attacked by hoodlums, and 14 passengers were kidnapped, but one was able to escape,” he said.
According to him, the command had commenced an investigation into the incident, particularly the circumstances surrounding the journey.
He maintained that Benue Links management has a policy against night travel, but the driver allegedly picked up passengers after official hours.
“We know that Benue Links has a policy and don’t usually drive at night. So from what I got, they have already closed, but the driver, for reasons best known to him which we are still trying to find out, picked passengers along the road, and when he came here, the story you have is what we are having.
“But as we are investigating, we are on the ground to make sure that the victims are rescued,” Emenari said.
News
There are governments that save for the rainy day, governments that prepare for the storm, and governments that, when the heavens open and money falls like tropical rain, rush outside with buckets full of holes. Nigeria, under President Bola Tinubu, has perfected a fourth category: the government that borrows during a windfall. It is a feat of fiscal acrobatics so astonishing that even the most cynical observers of Abuja’s budgetary theatre must pause in admiration. For decades, Nigeria has squandered oil booms with the reliability of a metronome. But this administration has achieved something more ambitious: it has managed to squander a boom before it even finishes arriving.
The US–Iran war has sent oil prices soaring to $115 per barA Government Addicted to Debtrel, nearly double the government’s benchmark of $64.85. Nigeria is earning an extra $92 million every single day; a torrent of unbudgeted cash that would make even the most jaded petro state accountant blush. In barely a month, Abuja has pocketed almost $3 billion in windfall revenue. If the conflict drags on, the country could rake in $30–$36 billion this year alone. And what has the Tinubu administration done with this unexpected bounty? Why, it has gone on a borrowing binge, of course.
In the past week alone, the National Assembly approved: a $5 billion loan from First Abu Dhabi Bank; a $1 billion UKEF backed loan for Lagos ports; a $6 billion external borrowing package, rubber stamped in under four hours, and a N68.323 trillion budget; the largest in Nigeria’s history. This is not fiscal policy. This is a national credit card with no spending limit. Nigeria’s public debt now hovers around $115 billion, and debt servicing will gulp N20.5 trillion in 2026; more than the budgets of health, education, and infrastructure combined. Yet the government borrows as though it were a teenager discovering online shopping for the first time. One might have expected that a historic oil windfall would inspire restraint. Instead, Abuja behaves like a gambler who wins the lottery and immediately takes out a loan to buy more lottery tickets.
The Senate: From Upper Chamber to Upper Cashier
The Senate’s role in this farce deserves special mention. Once conceived as a check on executive excess, it now functions as a conveyor belt for presidential loan requests. The $6 billion borrowing package was approved with the speed of a fast food order; no debate, no scrutiny, no hesitation. Former Vice President Atiku Abubakar, hardly a stranger to Nigeria’s fiscal melodramas, described the approval as “reckless urgency.” He is being polite. The Senate has not merely abdicated oversight; it has embraced its new role as a ceremonial stamp of approval, a kind of legislative rubber chicken waved over every loan document. One wonders whether senators even bother to read the fine print anymore, or whether they simply check the exchange rate, sigh, and sign.
The Oil Windfall That Will Not Be Saved
Other countries treat oil windfalls as blessings. Norway built a sovereign wealth fund so large it could buy entire countries. Saudi Arabia uses its surpluses to diversify its economy. Even Angola; long mocked for its corruption, has learned to stash away a portion of its oil riches. Nigeria, by contrast, treats windfalls as invitations to spend more, borrow more, and plan less. The Excess Crude Account, once envisioned as a rainy day fund, is now emptier than a politician’s promise after election day. The Sovereign Wealth Fund is a polite fiction. And fiscal discipline is a rumor whispered in the corridors of the Ministry of Finance. The tragedy is not that Nigeria is poor. The tragedy is that Nigeria is mismanaged.
The revised N68.323 trillion budget is a monument to fiscal optimism. It allocates N15.8 trillion to debt servicing; N15.4 trillion to recurrent expenditure, and N32.2 trillion to capital projects, many of them rolled over from previous years because the government failed to implement them. This is not a budget. It is a wish list. The government insists that the spending spree will “stimulate growth,” “unlock infrastructure,” and “stabilize the economy.” These are the same phrases Nigerian governments have used since the 1970s, usually moments before the economy collapses under the weight of its own contradictions.
Borrowing to Service Borrowing
The most farcical element of the Tinubu administration’s fiscal strategy is its reliance on borrowing to service existing borrowing. Nigeria now borrows to pay interest on previous loans, borrows to refinance old debts, borrows to fund recurrent expenditure, and borrows to cover budget gaps. This is not fiscal management. It is a Ponzi scheme with national colors. The administration insists that the debt is “sustainable.” So did Greece in 2008. So did Argentina in 2001. So did Nigeria in the 1980s; right before the IMF arrived with structural adjustment programs (SAP) that Nigerians still curse today.
Nigeria’s economy is a house built on sand: the naira remains fragile, inflation is suffocating households, foreign investors are fleeing, debt service consumes most of national revenue, oil production is unstable and non oil revenue is anemic. And yet, in the middle of this storm, the government has chosen to borrow more; at a moment when it should be saving aggressively. The oil windfall is a gift. But gifts require stewardship. And stewardship requires discipline. Neither is in abundant supply in Abuja.
Conclusion: A Nation at the Edge of a Fiscal Cliff
The expanded budget includes lavish allocations to the judiciary ahead of the 2027 elections, feasibility studies for politically convenient infrastructure, and capital projects that conveniently align with electoral maps. This is not economic planning. It is election year choreography. Nigeria is not being prepared for the future. It is being prepared for the polls.
The Tinubu administration inherited a difficult economy. But it has chosen to make it worse. Instead of using the oil windfall to rebuild reserves, strengthen the currency, reduce borrowing, and stabilize the economy, it has embarked on a reckless spending spree financed by loans that future generations will be forced to repay. Nigeria is earning billions, and saving nothing. And it is borrowing everything. History will not be kind to this moment. Nor will the bond markets. In the end, Nigeria’s tragedy is not that it lacks resources. It is that it lacks restraint. And in Abuja today, restraint is as scarce as electricity.
Business
In The Spotlight
On Friday, Nigeria’s Defence Headquarters confirmed the death of the Commander of the 29 Task Force Brigade in Benisheikh, Borno State, Brigadier General Oseni Braimah, and three other soldiers, following a ruthless attack on the military formation. Though this confirmation calmed initial reports that more than 17 soldiers were killed in the April 9, 2026 attack, it, however, ignited a deeper cause for concern among Nigerians, considering the fact that just about five months earlier, another brigadier general, Musa Uba, was murdered in cruel but avoidable circumstances near Wajiroko, in the same Borno State.
The attack on the military formation was not the only terrorist strike that week. That same Thursday, the devastating news of the soldiers who paid the supreme price had not been fully digested when another report filtered in, at night, that no fewer than eight persons had been killed by gunmen, in Mbwelle village, Bokkos Local Government Area of Plateau State. This was besides the bloodshed recorded in Shanga Local Government Area of Kebbi State on Easter Sunday, where 24 people were killed, according to the Kontagora Catholic Diocese, and in Kebbi and Kwara states, where 49 villagers were reportedly killed on Friday.
Despite the confusion, mourning and grief that followed the killing of these helpless civilians in various communities, described by authorities as some of the deadliest incidents recorded in recent months, the report of the military formation invasion and the killing of soldiers specifically caused panic attacks among citizens and gave a “hopeless situation” slant to the worsening security crisis. And this has become a trend since the beginning of the Boko Haram insurgency in 2009.
It is true that Nigeria’s security forces under the current administration have been dismantling bandit networks and killing scores of terrorists. But the relentless attacks on innocent citizens, which have led to the death of over 10,000 people in two years, and the kidnapping of more than 1,100 people in northern Nigeria, in just four months, appear to have enveloped security agencies’ efforts and boxed the current All Progressives Congress administration into a more precarious corner than previous opposition governments.
A few analysts have tried to compare the security situation under the late former President Muhammadu Buhari with the situation now. While some scored the President Bola Tinubu administration above his predecessor’s, others like Olu Fasan, in his article: “Recurring bloodbath: Nigeria is too fragile, too fractured to be safe”, said, “It has taken Tinubu less than three years in office to achieve a worse security situation than Buhari did in (his) eight years in power.”
I may not directly agree with this notion, but I know that the prevailing economic hardship or widespread poverty in the country, despite significant, growth-targeted policy reforms like exchange rate unification, subsidy removal, and fiscal coordination, can be justifiably linked to rising insecurity.
The Nigerian Institute of Social and Economic Research, in a 2024 study brief, titled: “Insecurity takes the lead as the key driver of poverty in Nigeria”, said, “Once a country experiences conflict and insecurity, it faces a reversal of economic development, which in turn increases the likelihood of further conflict, resulting in a cycle economists refer to as doom-loop. By undermining household livelihood activities on massive scales in Nigeria, increasing insecurity in the last five years has not only intensified poverty in the country, but has also opened up new frontiers of multidimensional poverty across Nigeria.”
Insecurity, according to NISER, drives poverty by disrupting and destroying livelihood activities and by reducing access to basic needs, thereby stifling meaningful improvement in the quality of life in Nigeria. This argument can be better appreciated if one considers how many Nigerians have abandoned leisure or commercial farming, especially in rural areas, owing to rising insecurity.
It would be unfair to pin the blame for this lingering crisis on the current administration; past governments were not also able to do much to stem the tide. But the fact that political IOUs seemed to have trumped competence during the initial formation of President Tinubu’s cabinet inadvertently gave room for unpalatable political treatment of delicate security matters across the states.
The Ministry of Defence, according to analysts, was the worst hit until recently, as analysts found it difficult to decode the consideration behind the choice of the two ministers who were initially saddled with such a priority responsibility. Perhaps, if the issue of security had been given the kind of attention it is being given now, from the beginning of the current administration, the terrorists might not have been this emboldened amid international focus.
The result is that, unlike when Nigeria was ranked the Number One Destination for Investment in Africa for two consecutive years (2012 and 2013), other African countries have, since then, continued to displace the nation, owing to a combination of factors, including accessibility and innovation, economic stability and investment climate, among others.
Of the 31 countries that were tracked in the 2024 edition of the “Where to Invest in Africa” report, published by Rand Merchant Bank and the Gordon Institute of Business Science, Nigeria was ranked as the ninth most viable destination for investment in Africa, behind South Africa, in fourth position; and Ghana, sixth. The 2025 report sadly reflected a further decline for Nigeria, by nine places, to the 18th position.
It doesn’t take an economist to understand that banditry, kidnapping, killings, among other forms of security crisis being witnessed on a large scale in Nigeria, can seriously damage the investment climate and trigger capital flight. Any government that picks the socio-economic well-being of its citizens as Number One on its priority chart must, therefore, go all out to first ensure the security of lives and property, against all odds.
That the Federal Government has published a list of 48 individuals linked to terrorism financing is a step in the right direction. That it has also secured 386 convictions, out of 508 cases in a mass terrorists’ trial, is another feat that can deter others and stem the tide, but politicians must, in the interest of the masses and the well-being of the nation, stop playing politics with this sensitive issue of insecurity.
Rather than mock or blame the APC administration for the current predicament, opposition figures and Nigerians as a whole must converge on the need to be united against this monster. However, the Tinubu administration must also avoid actions or statements that could trigger a revolt at this period. With the economic challenges from almost every angle, Nigerians seem to be constantly on edge.
In March 2014, the APC, then the main opposition party, lambasted the former President Goodluck Jonathan administration for trying to cover up its “incompetence and cluelessness” in tackling the Boko Haram insurgency.
The APC, in a statement signed by Lai Mohammed, its interim National Publicity Secretary at the time, said, “A country that has no discernible counter-terrorism strategy that will clearly identify the multiple means for preventing, responding and defeating terrorist groups, including the alignment of political, military, social and economic instruments and objectives, cannot expect to successfully battle any insurgency.”
Now that the APC is the ruling party, and Nigeria is still not out of the woods, should citizens still agree with the party’s assertion? How the authorities handle the situation will determine the answer. What goes around comes around!
In The Spotlight
Nearly 40 years ago in London, I was invited to dinner by a Nigerian woman I knew in Lagos.
She had described the place in general terms, but I arrived at an upscale home with some serious luxury. She was kind enough to show me around, and following a stylish dinner, she described how she had acquired the place, mentioning headline Nigerian names.
I had no reason to doubt her: some of them called during the evening. I declined her offer to share her conversations with them.
It was my personal introduction to the scale of Nigerian property in the English capital, as she described who owned what or lived where.
While my visits to England at the time were work-related and I had little time to socialise, I did meet several teenage Nigerian students whose parents were glad to send them abroad for education.
They patrolled the streets of London in exotic cars, and I thought it was ironic that, in isolation away from Nigeria, the young ladies were often being manipulated by their fathers’ friends.
In the decades that followed, I read stories of politically exposed Nigerians, particularly state governors, for whom the UK was the first address in money laundering.
On a few occasions, I have alluded to that phenomenon in this column. They acquired expensive homes, cars and even gold phones. One, Diepreye Alamieyeseigha, fled London disguised as a woman. Another, James Ibori, was tried and jailed.
Keep in mind that there have been about 185 governors since May 1999, and that London is nearly always their first port of call.
It is humbling to reflect on what percentage of this number has, in the past 26 years, sunk Nigerian wealth into the soil of England, with considerable swathes lost to middlemen and smooth women.
Remember: in 2006, the then-Minister of State for Finance, Nenadi Usman, criticised governors, saying that they disappeared abroad just days after receiving state allocations and after visiting Bureau De Change operators.
In 2007, a famous Human Rights Watch report, “Chop Fine,” described the case of Rivers State in grim detail.
The problem is that it is not always governors, as demonstrated by the story, “Abuja on Thames,” which appeared in the British monthly, Private Eye, in March 2019. That month, I commented on that story, which involved the astonishing wealth in that country of Paul Ogwuma, a former governor of the Central Bank of Nigeria.
The full Nigerian picture of capital flight, elite consumption, and political patronage was on display when the Panama Papers in 2016 and the Pandora Papers in 2021, two massive international media investigations in which our Premium Times participated, uncovered how the world’s rich and powerful deploy offshore mechanisms to hide their possessions.
As always happens, no Nigerian lost a kobo, let alone a heartbeat, as a result of those investigations, because in Nigeria, crime and hypocrisy quite literally pay.
And then in 2024, a list appeared of 58 deceased Nigerians with unclaimed assets in the UK, as part of a daily-updated “Bona Vacantia” (BV) list, meaning that having remained unclaimed, they are now considered the property of the Crown.
Related News
Court faults weak evidence, acquits Oshodins of laundering case
Windstorm damages newly built Abuja bus terminal
US-based Nigerian faces five-year jail over $5m money laundering
The Nigerian government does not inform Nigerians about the BV list or the claims process, so those properties are probably lost forever.
Remember also, the case of Nigerian “government” property on the verge of forfeiture in the UK a few years ago. In New York and Maryland, in the US, Nigerian governors and diplomats have left behind a long trail of property issues. In 2012, Alamieyeseigha forfeited $401,931 in traceable assets to the US government when President Jonathan’s government failed to claim them.
And so, the rich continue to flourish, and in January 2026, Tax Policy Associates of the UK published the extensive investigation, ‘Who secretly owns Britain? The hidden offshore owners of £460bn of UK property.’
A report in The Londoner, based on that investigation, peeled back the layers to link the late Herbert Wigwe, the former chief executive of Access Holdings, to about 106 properties. That placed him at No. 7 on a list of “The overseas power players in London’s property market,” with each property registered under shell companies outside the country, leaving none of them directly traceable to him.
While some of these practices are legal, especially on the part of private businessmen, the problem is that Nigeria has, for decades, been burdened by an army of much smaller ants eating away at her. Most of them are pillars of society, either claiming sainthood or praying for it, while the people from whom they amassed their wealth starve to death.
But there is another side: in Nigeria, the Tax Policy Associates investigation, like the arrests of Dariye and Alamieyeseigha and the trial of Ibori, would have been impossible.
“Abuja on Thames” would never have been investigated or published. Not the Pandora Papers. Not the Panama Papers.
Because we are traders. We are either buying or selling. When the aroma of money or power is present, some would sell their very souls. It is why we are where we are.
The system, of course, is in many ways pre-rigged. On real estate matters, we operate a fragmented administrative system with multiple overlapping authorities, incomplete digitisation, and overwhelming opacity. The FCT and state capitals are stories of greed.
This is because the Land Use Act vests all land in each state in the governor (and the President for the FCT). This means that, technically, no one “owns” land outright; one only holds a Certificate of Occupancy. That creates enormous scope for discretionary allocation and corruption, since governors and the FCT minister can grant or revoke rights, and often do.
This is why an FCT minister is a king. He can allocate land to whomever he pleases:
Relatives of the First Lady were thrice removed.
His wife.
Fourth cousins.
Underage children.
Governors, again.
EFCC officials.
ICPC officials.
Code of Conduct Bureau officials.
Girlfriends and their friends.
Supreme Court judges.
Court of Appeal judges.
INEC officials.
Senators.
Top police officers.
Among others, remember the FCT land scam of 2004; the Ministerial allegations involving the current FCT Minister, Nyesom Wike; and the 57 multi-billion-naira properties linked to former Attorney-General Abubakar Malami.
Just imagine what a Tax Policy Associates-style investigation of real estate ownership in Nigeria’s big cities would reveal.
Because in Nigeria, power is deployed into service only when we pray in the mosque or the church. Outside that, power is for the self.
And if you can export that power abroad in funds that belong to the commonwealth, to deprive other Nigerians of it and make you live like a king forever, so much the better!
Sonala Olumhense