Nation
Nigeria @ 62: Corruption, Insecurity Bane Of Nation’s Economy-Stakeholders
Nigerians from different spheres of life in the South-East have blamed the parlous state of the nation’s economy on corruption and insecurity.
The people spoke in separate interviews by The Tide’s source to evaluate how the economy has fared as the country marks its 62nd independence anniversary.
An economist in Abakaliki, Mrs Joy Ekwe, expressed worry that corruption had become deep rooted in the country since it gained independence on October 1, 1960.
She lamented that it had “eaten up the fabrics of our national life”, while integrity no longer counts.
According to her, “corruption has elevated mediocrity above merit and competence, while godfatherism, nepotism and favouritism have become the order of the day”.
She said the development had discouraged hardwork, with far more negative implication on the country’s economic development.
Ekwe also spoke on the impact of insecurity on the economy and urged government at all levels to deepen the fight against the phenomenon.
She said winning the war against insecurity would put the country back on the path of sustainable economic growth and food sufficiency.
“If we must achieve food security, briefcase farmers should not be allowed to manage the distribution of farm inputs,” Ekwe said.
An Abakaliki-based legal practitioner, Mr Chibuzor Onwe, said the widespread terrorism and banditry had made the country unsafe for foreign investors.
“Insecurity has drastically slowed down socio-economic development of the county,” he said.
“The nation has come of age, 62 years is not a joke. It is high time Nigerians collectively fought corruption to a standstill and uphold the principle of honesty and integrity as a way of life”, he said.
On his part, a political analyst, Mr George Nworie, urged the Federal and State Governments as well as the citizenry to embrace the spirit of doing the right thing at the right time in order to return the country to the path of sustainable growth and development.
The Chairman of the Nigeria Labour Congress in Enugu State, Mr Virginus Nwobodo, said development in post-independent Nigeria had been very slow and uninspiring.
“Our development as a nation has been sluggish. When I say sluggish, I mean that the pace is below the expectations of Nigerians.
“Looking at our democracy over the years, one cannot say that we are practicing true democracy because the gap between the leaders and the led is still very wide.
“Class consciousness still exists and our leaders are not committed to addressing the country’s infrastructure deficit,” Nwobodo said.
He said that the colonial administration provided public utilities like roads, housing and other amenities that made life easier for the people, “but that’s not the case today.
“In those days, once you are employed, there is official quarters ready for you. But today, Nigerians are still grappling with infrastructure deficit at all levels,” he said.
The labour leader said that under the colonial system, successive administrations improved on the performance of their predecessors, with a strong policy for continuity in governance.
“Today, every administration wants to initiate its own project and abandon what the previous government initiated but could not complete.
“That is why we have a lot of abandoned projects nationwide, some of which are very important projects,” Nwobodo said.
In Abia, a business coach, Mr Godson Adiele, said that the economy was strong and prosperous immediately after the country gained independence due to the prevailing government policies.
Adiele said that the economic policies supported productivity, competitive growth along regional line and job creation in the country.
With the emergence of new governments, he said, the economy began to nosedive due to poor policy implementation and ever-changing economic policies.
He advocated for effective implemention of policies that encourage diversification of the economy, support production, increased patronage of local products and eliminate multiple taxation.
He said that government at all levels should initiate policies that promote the ease of doing business in order to encourage investment and enable small businesses to thrive.
“Our passion for foreign products over the years has helped to deplete our economy.
“Nigerians must understand that the one you patronise you empower and we have built other economies to the detriment of ours.
“Nigerians now transact their businesses at home in dollars, which is not our legal tender.
“Unfortunately, this has resulted in the decrease in the purchasing power of the naira,” Adiele said.
The Economic and Financial Crime Commission (EFCC) Port Harcourt zonal command has held a one-day capacity workshop with some selected media organisations and civil society organisations in the state
The one-day capacity workshop was aimed at strengthening existing relationships among the media and the civil society organisations in the state with a view to improving the existing relationships among the graft agency and the media.
Speaking at the event the zonal commander of EFCC, MR. HASSAN SAIDU, said the
initiative is part of the Commission’s ongoing commitment to strengthening collaboration with key stakeholders, particularly the media and civil society, in our collective fight against economic and financial crimes , adding that the decision to organize this workshop underscores the strategic importance the EFCC places on the roles of the media and the CSOs as watchdogs of the society.
According to him,all over the world, the partnership between anti-corruption agencies, the media, and civil society has been instrumental in promoting transparency, accountability, and good governance, noting that the collaboration is even more imperative in Nigeria given the scale and sophistication of economic crimes we contend with.
“Let me take this opportunity to acknowledge and appreciate the invaluable support you have given to the EFCC over the years.
Your consistent focus on our work through reporting, advocacy, and public engagement has helped to sustain the momentum of our preventive and enforcement efforts.”
The EFCC’s mandate is both engaging and arduous. I say this because the landscape of economic crime is dynamic and your duty to report and interpret these developments requires diligence, patriotism and integrity.”
He posted that It is in recognition of these challenges that the Commission introduced a Specialized Workshop Series on Economic and Financial Crimes Reporting for journalists, adding that the commission has expanded this initiative to include civil society organizations to further demonstrate their belief in an inclusive and collaborative anti-corruption framework.
“As you are aware, Port Harcourt remains Nigeria’s treasure base of the Nation and a fertile ground for various forms of economic and financial crimes, ranging from pipeline vandalism, foreign exchange scams and business email compromise to investment and property fraud, and crude oil theft.”
The EFCC zonal commander averred that the 2025 edition of the workshop is Understanding Cryptocurrency Fraud and other Emerging Financial Crimes and Prosecution of Financial Crimes: Issues, Challenges and Way Forward , adding that
It is imperative for us to note that the surge of Cryptocurrency Fraud and other related offences in the Nigeria’s Cyberspace is becoming alarming hence, as part of the efforts of the EFCC to nip this menace and eradicate these crimes from Nigeria Cyberspace there is need for synergy with relevant Stakeholders, that is the reason why the Commission has chosen these topics to educate, create awareness and discuss arising issues that will yield more significant results as the EFCC tackles the spate of these crimes.
“We must work together to intensify public sensitization. Your platforms- print, broadcast, digital, and community-based- are essential in equipping Nigerians with the knowledge to make informed decisions and avoid falling prey to scammers. ”
He reiterated that the fight against economic and financial crimes is not the sole responsibility of the EFCC or other anti-corruption agencies. It is a collective national duty, meaning all hands must be on deck , stressing that
We owe it to our country and, indeed, the global community to expose and confront corrupt practices wherever they exist.
“The media must continue to hold public institutions accountable, while civil society must deepen civic engagement and promote transparency at all levels.
The EFCC remains committed to building a stronger and more effective partnership with all stakeholders in the fight against corruption. he stated.
Earlier In his presentation on cryptocurrency-related crimes, CSE Coker Oyegunle, Head of Advanced Fee Fraud, explained that digital assets are increasingly being used for money laundering, identity theft, phishing, malware attacks, and ransomware, most of which involve untraceable crypto payments.
He noted that Nigeria now has a coordinated regulatory framework involving multiple agencies. The Securities and Exchange Commission (SEC) serves as the lead regulator under the Investment and Securities Act 2025, defining digital assets as securities and licensing virtual asset service providers.
Our correspondent reports that other topics presented during the workshop include prosecuting Financial crimes: Issues, challenges and the way forward and the role of CSOs and media in driving a preventive frame work.
Nation
RSU Blames Poor Funding for Failure to Meet Academic Targets as 1,356 Set for Combined Convocation on Saturday”
The management of Rivers State University (RSU), Port Harcourt, has stated that poor funding has hindered the institution’s ability to meet its expected academic targets.
The Vice-Chancellor of the university, Prof. Isaac Zeb-Obipi, made this statement during a press briefing held at the institution on Monday in Port Harcourt, ahead of the week-long 37th and 38th combined convocation ceremony scheduled for Friday and Saturday this week.
Prof. Zeb-Obipi emphasized that poor funding continues to be a major challenge limiting the institution’s ability to meet its targets, adding that they trust the state governor, Sir Fubara Siminalaye, who is the visitor to the university, will continue to strengthen and support them.
He noted that the state governor has demonstrated his commitment to supporting the university, recently approving N700m for the ongoing NUC accreditation.
The Vice-Chancellor stated that the university faces deficits in classrooms, staff accommodation, and student hostels, with the infrastructure gap widening, and existing lecture halls and laboratories requiring renovation.
“We are prioritizing phased upgrades based on program needs,
He added that the university is short-staffed, having lost staff to retirement, death, and changes in job or place of work, and that new programs, departments, and faculties have been created to meet the contemporary needs of society.
Mean while,a total of 13,242 students are set to graduate in the combined convocation, with 10,648 undergraduates, 1,356 Master’s degree students, 700 postgraduate diplomas, and 538 Doctors of Philosophy.
The Vice-Chancellor also used the opportunity to list some achievements of his administration, including the creation of new directorates, completion of abandoned laboratories, and upgrades in the faculty of sciences, made possible with support from the Tertiary Education Technology Fund (TETFund).
He expressed appreciation to the governor and visitor to the university, Sir Siminalaye Fubara, for approving his appointment and promised to justify the confidence placed in him.
The Movement for the Survival of the Izon Ethnic Nationality in the Niger Delta (MOSIEND) has decried the neglect of communities in Obolo Nation and others in the Niger Delta Region
MOSIEND also called on the stakeholders to empower the youths in skill acquisition and other meaningful ventures to better their lives
This call was on Rhythm 93.7 FM Port Harcourt, Radio program, Talk of the Town, by MOSIEND Eastern Zonal Coordinator of MOSIEND Half Hour Comrade Tammy Bruce Longjohn, alongside Asarama Clan Chairman, Comrade Amos Zebedee Udu, and Unyeada Clan Chairman Comrade Owen Wilson Ngere monitored by our correspondent
The spokepersons underscores the urgent need for government agencies and development partners to respond decisively to the dire state of basic amenities in the area.
MOSIEND leaders in Obolo Nation lamented the absence of potable water, electricity, access roads, and other functional public infrastructures in the clans
“What is troubling is that these complaints continue to echo without corresponding action from the Rivers State Government, the Niger Delta Development Commission, and the oil companies operating in and around the area”.
According to the MOSIEND leaders, the situation has reached a point where community members, particularly youths and women, require deliberate intervention to rebuild livelihoods and restore hope.
They also emphasised the need for empowerment programmes, vocational training, and investments in local economies that depend heavily on fishing and trade.
The Clan leaders call for provision of small engine boats for fishermen and the construction of proper market spaces for the communities
Asarama Clan Chairman, Comrade Udu noted that the community participates fully in electoral processes yet continues to live without clean water or electricity.
He insisted that the clan is not benefiting as they ought to from any MoU with oil companies nor from NDDC projects, raises concerns about the fairness and inclusiveness of development planning in the state.
Equally troubling is the account from Unyeada Clan Chairman, Comrade Owen Wilson Ngere, who highlighted the alarming state of Unyeada Primary School, where children are forced to learn on bare floors without desks, chairs, or basic sanitation facilities.
” For a region that hosts oil and gas activities, such conditions are unacceptable and should concern all stakeholders”.
The Unyeada Clan Commended NDDC for the installation of solar lights in the communities, noting that the project is not enough for the entire community as they
appeal for more of the solar project in the area
While the leaders expressed appreciation to Governor Siminalayi Fubara for the ongoing construction of roads in the area, and to the local council Chairman for the provision of potable water in some communities, .
“Obolo Nation has shown remarkable restraint and continues to maintain peace, as noted by the MOSIEND Coordinator”.
“The issues highlighted are not demands for luxury,but are basic necessities that every community in the Niger Delta deserves.
“The time for promises has passed; what Obolo communities need now is visible, sustained, and inclusive development.
Chinedu Wosu
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