Corruption: Over $600bn of Nigeria’s money stolen since 1960 — Kingsley Moghalu

Prof. Kingsley Moghalu, on Thursday said that over 600 billion dollars of Nigeria’s money had been stolen through corruption since 1960.

Moghalu, a former Deputy Director of the Central Bank of Nigeria, made this known in an interview with the News Agency of Nigeria (NAN) in Lagos.

He called for a systemic and serious approach in the fight against corruption, to build Nigeria and move it forward.

According to him, corruption remains one of the biggest problems facing Nigeria.

He said that Nigeria needed to intensify the fight against corruption because it had remained a major challenge to its development and had worsened.

“We can fight corruption in four very important ways. The first is through value system education and reform.

“We have to teach our kids right and wrong from the elementary school to secondary school. Ethics must become a compulsory subject.

“Secondly, Nigeria’s leaders must lead by example via accountability to the people.

“Thirdly, there must be punishment for corruption. if anyone engages in the act of corruption, such person must be made to pay for it and anyone found guilty of corruption must go to prison. It is not enough to simply sack people because they were corrupt.

“Finally, we have to improve the reward of public officers, their servants and the social safety net.

“Many people steal in public life because they are afraid about their old age and whether they will have anything or a roof over their heads.

”So, these are some of the things we must look at. We have to look at fighting corruption in a systemic way and be serious about it,” he added.

Moghalu reiterated that he was on a mission to build the nation. (NAN)