The practice whereby Western nations repatriate money stolen by previous leaders of African nations to current and succeeding regimes in the same nations is a ruse. They are just recycling corruption. A prime example is Nigeria where a corrupt Buhari regime is busy hoodwinking the world chasing supposedly corrupt former officials to recover looted funds.
This same Buhari regime cannot account for $2.8 billion during his tenure as head of the NNPC in the 1970’s. Buhari could not account for 2.5 billion Naira missing during his tenure as head of the PTF (Petroleum Trust Fund) in the 1990’s, and now another Buhari appointee, Alhaji Maikanti Baru, the GMD (Group Managing Director) of the NNPC has awarded a phantom contract of $25 billion without due process. The Buhari appointed Secretary to the Federal Government, Alhaji Babachir Lawal and the Nigeria’s Spy Chief, Mr. Ayo Oke are being investigated for stealing massive sums of money from their agencies. The Executive Secretary of the National Health Insurance Scheme, (NHIS) Alhaji Professor Usman Yusuf, a Buhari appointee, defied the suspension order of his boss, the Minister for Health Prof. Isaac Folorunso Adewole. The suspension was to allow investigation into alleged fraud leveled against the NHIS Chief Executive.
All those accused of fraud are Hausa-Fulani including Buhari. The only exception is Chief, Mr. Ayo Oke. While Buhari is chasing members of prior administrations, he plays dumb and mute when corruption charges are leveled against his administration. He selectively hounds non-Hausa-Fulani persons for corruption. The only exception is Colonel Sambo Dasuki. His crime: He humiliated Buhari during the military coup of 1985.
Why would a corrupt regime be chasing corrupt officials? They are greedily more corrupt. The moneys repatriated by Buhari is recycled back into Western bank accounts under different names. The West gains a lot of good public relation while the loot is recycled to the repatriating Western countries, Islands, and tax-free jurisdictions.
Solution: Identified funds, stolen from Nigeria and residing in Western bank accounts, Cayman Islands, Panama, and Bermuda should be returned to Nigeria in form of projects. Developmental projects are sorely needed in the areas of water treatment, power generation, communications, agriculture and transportation.
Recycling of corruption must stop. Money transfers to corrupt nations must end. Proceeds of corruption must be returned in the form of developmental projects to the fleeced economies and not cash which is easily “restolen.”