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PRESS RELEASE BY THE COUNCIL OF THE NIGERIAN ECONOMIC SOCEITY
[NES]
A BLOODLESS REVOLUTION MAY BE UNDERWAY LET NO ONE OR GROUP SEEK TO SCUTTLE IT
A statement to the Press by the President of the Nigerian Economic Society (NES)
Professor Sam Olofin
Having helplessly over the years watched corruption eat deep into the fabric of the Nigerian society with its devastating effects on our economic, political and social lives as a country, it would appear that a quiet bloodless revolution is underway at last to reform our long accepted ways of doing things. Through the activities of the EFCC backed by a Presidential resolve it appears the war against corruption is moving from mere rhetoric to substantive and real battles to reshape our lives and our economy. This new resolve deserves the full support of every well-meaning Nigerian.
One of the major distorting effects of corruption on the economy has been the creation and sustenance of an artificial economy within the larger economy, which promoted rent seeking behaviour over and above production in the real sector. Rather than channeling our earnings from oil into enhancing capacity of the productive real sector to create real wealth and job opportunities most of the misappropriated funds are either funneled out of the economy or laundered into less than productive activities in the financial sector or into overvalued real estate sector. These are the two major sectors that are safe havens able to absorb laundered funds to the detriment of the real sector where entrepreneurs like the Dangotes and others in Manufacturers Association of Nigeria need resources for producing goods and services to create wealth and increase gainful employment opportunities.
There are ongoing attempts to scuttle this brewing bloodless revolution and the anti-corruption crusade that would curb wasteful diversion of our wealth and resources from unproductive use into the productive sectors of the economy. The greatest threat to this revolution that is gradually gathering momentum is cynicism on our part. Many wonder if any good can ever come out of Nigeria. Like one writer once said of Nigeria that it is a place where the worst never occurs and where the best never happens.
We must move away from this cynicism to support the EFCC and the President in the ongoing war against corruption. Some are accusing the President and the EFCC of a selective war against a few. Some argue that there are worst cases not being tackled; while some claim it is merely a public relations gimmick to impress our creditors in London and Washington. The most cynical of on going arguments to trivialize and scuttle the whole process is that which sees every Nigeria as corrupt and in which every action by any one against one's perceived personal interests or agenda amounts to corrupt practice. Some even argue that the President himself is corrupt and hence he is not qualified to lead the war against corruption. We beg to disagree with this funny logic. This almost amounts to argument that because Gorbachev was a communist he could not reform communism or bring it down.
We need to cure ourselves of this cynicism and for once commend the President for a job being well done whatever the motives and whatever the shortcomings. We did not elect or appoint a perfect President and whenever he is working hard for the public good he deserves our commendation, encouragement and support as much as we seek to criticize him when he embarks on actions that we believe are not in our collective interest.
The war against corruption is not necessarily a crusade to ensure that every Nigerian that ever participated in any corrupt act in the past would be brought to justice. Rather it is a war to stop future perpetuation of corruption as a way of life through deterrent measures that would be strong enough to discourage would-be future offenders. We must not trivialize or scuttle this war by expecting every corrupt Nigerian to be investigated and prosecuted before we take it seriously.
But let us face it, there is no way the EFCC or the President can embark on prosecuting, or even investigating every Nigerian that is suspected of corruption in one swoop. Let us continue to encourage the government in the instances in which it believes it has found enough hard evidence to arraign a few. If this does not serve as an effective deterrent, not even the threat of conviction in hell would. We must get off this sweeping generalization sustaining corruption. Yes it may be true that only those who are stupid enough to get caught are the ones being dealt with for now. Dealing first with this category of cheap targets would enable us to gradually isolate more and more, the "clever, hardened criminals" who are for now difficult nuts for the EFCC to crack, or who think they are smart enough, and well connected or wealthy enough to continue to pollute society unhindered. As the saying goes "everyday may seem to belong to the thief, but some day the one being robbed continually would have his day". Let the EFCC continue with their excellent job. They deserve our commendation and support whether their targets are selective or not.
Another fear being expressed is based on the rumour that the corrupt elite whose easy way of life is being threatened may instigate the armed forces to destabilize the country. One hope that every one would by now have realized that the military interventions of the past have been largely responsible for the institutionalization of what has become endemic corruption in our society. Not only are the days of military intervention in governance over, they are most unwelcome in the ongoing self-cleansing exercise being championed by the government. The military should for now remain in their barracks training themselves for the purpose for which the taxpayers money is being utilize to sustain them-that of defending the country against any possible external aggression.
The warning should be sounded that if we scuttle this bloodless revolution through any errors of omission or commission, or through our cynicism, we would only be paving the way for an inevitable future bloody revolution.
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Professor Sam Olofin
President,
Nigeria Economic Society (NES)
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