Wednesday, March 19

Nigeria corruption - pretty much sad and known!

More news from that font of good governance and good administration also known as Nigeria.

BBC NEWS Africa Panel alleges Nigeria corruption

I quote:

The government of former Nigerian President Olusegun Obasanjo paid $50m (£25m) to non-existent companies, a parliamentary panel alleges. The panel was established earlier this year to find out what happened to money spent on improving power generation between 1999 and 2007.
President Umaru Yar'Adua has said $10 billion was spent with little sign of improvement to electricity supplies.

So 10 billion was spent on electricity without any improvement. So they set up a panel and they found that money was spent on non existent firms such as "Special Projects", "Space Master" and "Sassy Fund". It would be funny, it it was not so sad and serious.

All this to be taken with a grain of piquant salt!!!

1 comment:

Peter Bosshard, International Rivers said...

The figure has meanwhile risen to $16 billion. And the money is not simply missing. It has also driven Nigeria's development policy in a direction which favors the interests of powerful politicians and foreign contractors over the needs of poor people and the environment. I have tried to analyze this in my own blog on the topic, Money for Nothing. See