Peter Obi via his X handle, Formerly Twitter says the Economic and Financial Crimes Commission’s(EFCC) announcement that ₦853 billion has been recovered from crime proceeds within one year is a step in the right direction. The Commission deserve our commendation for this effort, even though we are aware it’s just a tiny fraction of the funds looted from the public treasury by the Leaders.
Beyond this recovery therefore, what truly matters is the utilisation of these funds in a verifiable and accountable manner, specifically in the critical areas of development, health, education, and poverty alleviation to benefit the people.
Nigerians want to see impact. We must be able to trace where and how these recovered funds are invested.
Currently, we have over 20 million out-of-school children in the country, the highest in the world. Similarly, we have the highest number of acute poor in the world, over a hundred million.
In both cases, it is worse in the North, and all efforts toward reducing the situation remain imperative. If these recovered funds and subsequent ones are strategically invested, they would immensely contribute to breaking the cycle of poverty, illiteracy, and insecurity.
For example, the Federal Government 2024 operational budget for Universal Basic Education contribution is about #251.47 billion, so to triple this sum will be an additional #503 billion. The remaining #350 billion can be shared directly to 19 Northern provinces for lending micro credit to the poor. Most of these states have long been applying for as little as #2 billion of similar funding from our development banks.
Let this not just be another announcement of recovery. Let it be the beginning of a new era of accountability, where every kobo retrieved is turned into classrooms, hospitals, skills, and opportunities for ordinary Nigerians.
