Sunday, 14 June 2015

COMBATING THE GLOBAL FINANCIAL CRIME AND CORRUPTION-ODUNZE REGINALD C





One of the trending manifestos of APC is change, the incoming administration campaigning for change in the quest for 2015 presidency, canvassed for change. Change in everything, Change in Government, although their opponents wanted transformation and continuity but the overwhelming majority of Nigerians  wanted a change. And that change culminated in loss of the ruling party. But analyst in politics and the economy are of the views that the only change that matter most to them would be in the way corruption is being tackled.
In an article captioned “Can corruption be eliminated “which appeared in REGINALD ODUNZE.COM, Odunze (2013) observed that “corruption has reached an endemic state that virtually all areas of our public sectors, has been corrupted” and those who decides not to follow with the trend fall out with the authority that be”
It should be noted that corruption was so humiliating and of age that it becomes so difficult to tackle it. Tackling corruption that is mind blowing requires the active support of all and sundry.
Corruption has fizzled business and rendered people useless, and at some times droved organization, states, countries and individuals to a state of confusion and utter helplessness.
As the peoples’ president General M. Buhari (Rtd) mount the saddle for the presidency, we are expectant of the necessary fight against corruption, this is the time to strengthen the anti corruption bodies like EFCC, ICPC, NDLEA, and the judiciary for a joint collaboration in the necessary fight against corruption, Advance Fee Fraud, popularly called 419, a corrupt version of the criminal code where it was cited. Drug related offences and more currently insurgency and terrorism which analyst have come to see as the most major act of corruption, as undistributed earnings, capital flight and murder also goes with it.
Corruption and fraud has been with the people for a long time, as far back as 1720, When Isaac Newton, the powerful scientist who enunciated the Newton’s Laws of motion lost his fortune in the South Sea Bubble Company of 1720 due to corruption. He said and I quote “I can calculate the motions of heavenly bodies but not the madness of men”. Today in my people there is madness, everyone is thinking of getting rich quick. ( Kiyosaki 1990:70)
And according to Ojo (2009:11) in an article captioned, “Reps set to pass cyber crime bill, he stated that corruption has grown so wide to include advance fee fraud, password sniffing, hacking, web cramming, credit card fraud, identity theft , data kidnapping, software piracy, cyber squatting, unlawful interceptions etc”
The preamble to the 2003 United Nations against corruption (UNCAC), which Nigeria has ratified states that corruption “is no longer a local matter but a transnational phenomenon that affects all societies and economies. The African convention on preventing and combating corruption which Nigeria has ratified acknowledged the need for international co-operation to combat corruption and note the corrosive effect on individual and society” Falana 2008:120.
The world is a global village, what affects economy in our society will definitely affect other economies and countries. Though the World 3.0 mindset has a different believe. They believed that there are barriers, bridges and that what affect one society may not definitely affect the other. That is not our subject of study.
Continuing Falana stated that the ground corruption exacerbates scarcity of fund in Nigeria, frustrating any interest in enriching quality and life, Nigerian leaders must accept responsibility for the continued poverty in the country, he noted that ground and blatant corruption degrades life, he went further to say that in 2006 the Commonwealth working group on assets repatriation specifically refers to corruption being defined as  an international crime  and suggest that jurisdiction of the international court be extended beyond the prosecution of crimes against  humanity as defined in Article 7 of the Roman Statutes. Falana further stated that the early draft of the statute did in fact include  reference to crimes other than crime against humanity such as Terrorism and Drug Trafficking.
Corruption has reached an alarming rate globally, and do we continue to fold our hands and watch corruption kill our great economy, the answer is an emphatic No.  It could be observed that most people who involved in corruption often end in poverty so also for a country. And as Prof Pat Utomi 2008 in “The Limit of lets share Economy, he stated that like people who won lottery, they often return to poverty.
This is the time for the President to fight corruption to a standstill.
Culled from reginaldodunze.blogspot.com

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