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Nairaland Forum / Nairaland / General / Politics / Makinde’s Open Asset Declaration Challenge. (298 Views)
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Makinde’s Open Asset Declaration Challenge. by Fagbemi00(m): 3:29pm On Jul 24, 2019 |
*MAKINDE’S OPEN ASSET DECLARATION
CHALLENGE.*
July 24, 2019
Punch Editorial Board
Bucking the legalistic trend, Oyo State
Governor, Seyi Makinde, has openly declared
his assets. His submission to the Code of
Conduct Bureau puts Makinde’s worth at
about N50 billion – his firms are worth up to
N48.1 billion; shares, cash and portfolios
make up the rest. In a country tainted by
corruption and public office holders are
viewed with suspicion, Makinde’s action
captures public imagination for its boldness.
Historically, only a few members of the
political class have stepped beyond the
minimum set by the law to present themselves
accountable in the Fourth Republic. The late
President Umaru Yar’Adua set the pace with
his open assets declaration in June 2007.
Yar’Adua, whose balance sheet had a credit of
N856 million and liabilities of N88.7 million,
urged his then deputy, Goodluck Jonathan, to
walk that noble route. Jonathan demurred. In
2010, Kayode Fayemi, in his first tenure as
Ekiti governor, and his deputy, the late Funmi
Olayinka, declared assets worth N1.9 billion.
Fayemi also declared his assets at the end of
his term in 2014.
Unfortunately, Yar’Adua’s premature death in
office aborted that project. Jonathan, on
becoming president in 2010, again refused
flatly to make a public declaration of his
worth until his defeat five years after.
But President Muhammadu Buhari and his
deputy, Yemi Osinbajo, have improved on that,
making their asset declarations at the CCB
public – first in 2015 and again 2019 – upon
their re-election. Still, their declarations were
not as detailed, compared to the release by
Makinde.
Nigerian politicians find it easy to outwit the
weak system, but Makinde’s public assets
disclosure poses a challenge to them.
Although the CCB law mandates top public
officers to file their assets details within three
months of their assumption of office, the
governor submitted his returns on the eve of
inauguration – on May 28. Surprisingly, the
governor said he was revealing all the details
of his holdings: companies, Eurobonds, cash
in naira and foreign exchange and nine
properties in Nigeria, one in South Africa and
two in the United States.
By Nigerian standards, Makinde is not a
pauper. According to the World Poverty Clock,
Nigeria is the extreme poverty capital of the
world.
It harbours 94 million “extremely poor” people,
who live on less than $1.90 per day. Out of
the morass, Makinde’s message to Oyo State
people – and Nigerians in general – seems to
be that he will show fidelity to his oath of
office. It is a clean move, though, in Nigeria,
trust is preciously lacking as both the poor
and the rich public office holders are linked
with unusual looting of the public treasury.
Critically, Makinde refuses to be held captive
by the CCB law. The 1999 Constitution limits
government officials to just filing a written
declaration to the bureau. This closes the
door against holding officials accountable. As
a result, the ruling class members hide under
the law. Some of them use this loophole to
make anticipatory declarations and false
declarations. Some do not even make filings
at all. Worse, the public is unable to trace the
properties they acquire illegally in and out of
office.
The declaration of assets is a safeguard
against sleaze, a way of life in Nigeria. During
his state visit to the United States in 2015,
Buhari stated that public officials looted $150
billion from the treasury in the 10 years to
that time. Buhari removed the immediate past
Chief Justice of Nigeria, Walter Onnoghen,
back in January following discrepancies
noticed in his asset declaration forms.
It helps to determine whether officials involve
themselves in conflict of interests. In
Makinde’s case, this is now easy. His
companies can easily be traced in the event
that they secure contracts from the Oyo State
Government. Public-spirited individuals,
journalists and civil society groups can
interrogate the governor’s declared holdings
during and after his term of office.
The World Bank recommends that countries
should promote asset declaration to deter
officials from perpetrating acts of corruption.
It puts down the effectiveness of such laws to
making “asset declaration available for public
scrutiny.” Currently, this is lacking in our
clime. In a research, it said that 70 per cent of
countries in Europe and Central Asia required
mandatory public disclosure of information
contained in the asset declaration forms.
Similarly, the Organisation for Economic
Cooperation and Development reported that 86
per cent of OECD countries required their top
leaders to disclose private assets. “A well-
defined asset declaration system is a strong
tool to fight public sector corruption and
abuse of power. Published information on a
person’s assets allows civil society to hold
leaders to account,” an OECD research paper
argued.
In this, it recommends the US model, because
it is “comprehensive and transparent.” That
was the foundation when the White House
released the details of Barack Obama’s assets
in May 2012. That also was the case with his
deputy, Joe Biden. The Obamas had assets of
between $2.6 million and $8.3 million, but the
details made the difference (as against the
current legal norm in Nigeria). Much of
Obama’s income came from his memoir. He
stated his 30-year mortgage at 5.6 per cent
rate, the saving plan for the children’s college
education and his annual salary of $400,000.
Apart from Biden’s $230,700 annual salary,
the then vice-president listed an outside
income of about $30,000 and $105,000,
principally from the rent on his properties and
book royalties.
But assets declaration will be just a hollow
exercise if it is not followed by a diligent
verification for accuracy and tax returns.
Therefore, the challenge before Nigeria is to
encourage political leaders to disclose their
assets openly and comprehensively to allow
civil society organisations and the media
monitor the integrity of public officials. The
provision in the Third Schedule, Part I (3c) of
the 1999 Constitution, which mandates the
CCB to: “Retain custody of such declarations
and make them available for inspection by any
citizen of Nigeria on such terms and
conditions as the National Assembly may
prescribe” should be completed and enforced.
The citizens should impress it on NASS to
urgently act on this minimum constitutional
requirement.
*Other governors, commissioners, ministers,
lawmakers, members of the judiciary, the top
security chiefs, top civil servants and
administrators should follow Makinde’s
example.*
Buhari should strengthen the CCB and the
Code of Conduct Tribunal to carry out their
constitutional functions. |
Re: Makinde’s Open Asset Declaration Challenge. by nzeobi(m): 3:37pm On Jul 24, 2019 |
I hope to see buhari and people in his government emulate such. |
Re: Makinde’s Open Asset Declaration Challenge. by bernf16(m): 8:27am On Jul 25, 2019 |
it won't fly Sir...APC-PMB will never follow suits... nzeobi: |
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