Vice President Yemi Osinbajo has listed the danger which corruption is capable of causing societies, describing it as a crime against humanity, because of the implications on the lives and livelihoods of all, especially the poorest.

Corruption, he swore, undermined democracy and the rule of law, distorts markets, erodes the quality of life, allows organized crime and terrorism to flourish, and triggers needless wars and bloodshed. And indeed, much has been lost and is still being lost.

Professor Osinbajo, who spoke today, Monday, at the 8^th Commonwealth Conference of Heads of Anti Corruption Agencies in Abuja, the Nigeria’s federal capital, stressed that corruption had continued to be one of the greatest challenges of our time and that it is a problem that threatens the very existence, and continued survival of societies.
The Vice President cited the 2014 report by the One Campaign, titled the “One Trillion Dollar Scandal” which said that developing countries lose $1 trillion annually to corporate transgressions, most of it traceable to the activities of companies with secret ownership.
“Another report that may enjoy a major mention here is the 2015 report of the High Level Panel on Illicit Financial Flows from Africa. Chaired by our guest of honour, former South African President, Thabo Mbeki, the panel concluded in its report that Africa had lost over $1 trillion over a 50-year period and that Africa loses more than $50 billion annually to illicit financial flows. Most of these illicit flows are perpetrated in the extractive sector and many through companies with hidden ownerships.”
Vice President Osinbajo said that the cost of corruption had imposed on all African countries and governments a moral obligation to fight it with vigour and political will, by strengthening all institutions and systems involved in law enforcement, as well as in promoting a culture of transparency and accountability.
According to him, while public sector corruption is the usual focus, the private sector’s complicity is significant, especially with large multinational corporations engage in tax evasion or transfer pricing.
“But it is the complex web of public-private collusion and connivance that results in proceeds of corruption ending up in foreign countries and, especially, in their financial institutions and systems. Dismantling the conspiracies that facilitate export of stolen assets is probably as important as the theme of this conference which is “Partnering towards Assets Recovery and Return.”
“It underscores the fact that fighting corruption is futile if we do not ensure that the proceeds of corruption find no safe haven.  And that such proceeds are fully recovered and promptly repatriated. Recovering stolen assets not only accomplishes the goal of restitution, it also serves as a potential deterrent to future corruption.

“Article 51 of the United Nations Convention Against Corruption states unequivocally, that return of assets is a fundamental principle of the Convention, and mandates States Parties to afford one another the widest measure of cooperation and assistance in this regard. Similarly, Article 16(1) (c) of the African Union Convention for Preventing and Combating Corruption, obligates States Parties to adopt such legislative measures as to enable repatriation of proceeds of corruption.”

A client of the Nigerian Telecommunications giant, MTN, Oluwole Aluko has confirmed that he had been paid N500,000 following the ruling of a Federal High Court judgment in the case he instituted against the MTN’s unlawful deduction from his call credit.

Aluko, who is a legal practitioner, had in 2016 sued MTN, instituted a legal suit against MTN alleging unlawful deduction of his call credit.

The judge, Nathaniel Ayo-Emmanuel, of the Federal High Court, Ibadan, had in 2017, entered judgment in favour of the claimant when there was no representation for MTN throughout the hearing period until the judgment day.

But Abiola Olagunju and Fatiullah Tiamiyu later announced their representation for MTN, with an application asking the court to set aside its judgment against their client.

They had argued that the company’s legal department was never aware of the suit against the company before the court.

Aluko, however, presented before the court evidence of court summons served on the defendants with proof of receipt in a criminal contempt suit he instituted against the duo.

He had argued that the duo were trying to pervert the course of justice.

At the resumed hearing today, Monday, Aluko informed the court that MTN had paid him N500,000 in compliance with the court’s earlier order.

The judge, consequently, struck out the claimant’s suit of criminal contempt against MTN’s lawyers.

Source: NAN.

President Muhammadu Buhari has commiserated with Pastor Tunde Bakare on the death of his mother, Mrs. Abigail Eebudola Bakare.

In a telephone call to his friend and one time running mate, the General Overseer of Latter Rain Assembly, President Buhari asked the cleric and the Bakare family to take solace in the fact that the late Mrs. Bakare lived long enough to witness the enormous successes achieved by her children.

The President called on the bereaved family to uphold the cherished ideals of community service, kindness and generosity associated with the matriarch of the Bakare family, who died on May 5 at the age of 108.