Invest Recovered Funds In Critical Infrastructures, NLC Urges FG

Invest Recovered Funds In Critical Infrastructures, NLC Urges FG

Chris Steven, Abuja 

The Nigeria Labour Congress (NLC) ‎has said that the federal government must let Nigerians know what it plans to use the recovered looted public funds for even it advised  Government to invest the  recovered funds into critical infrastructures towards developing the country.

The Congress stressed that ‎Government should invest  the recovered funds into key infrastructures such as roads, power, key industries and other sectors capable of stimulating the econom‎y.

In a statement issued in Abuja yesterday to commend the government for rendering a transparent account of the recoveries it has made of looted funds, NLC President, Comrade Ayuba Wabba also called on the government, not to relent in its recovery drive and its general fight against corruption noting that  the recovered funds so far were just the tip of the iceberg. 

He said that the quantum of the recoveries has vindicated Labour’s unqualified support for the fight against corruption and its insistence that more stringent punishment be prescribed for corruption cases.

The discoveries, according to Comrade Wabba, have also exposed the extent of the rot in the system and why virtually everything in the polity failed to work.

He however called for the creation of a special court for the handling of corruption cases in addition to strengthening the anti-corruption agencies.

” We recall that in our national rally against corruption, we had made the point that we must look at the bigger picture of national recovery by ensuring that recovered funds be deployed to critical infrastructure such as roads, power, key industries and other sectors capable of stimulating the economy.

Accordingly, we find it necessary to once again urge the government to deploy these recovered funds to the aforementioned key infrastructure or sectors,” he said

While reiterating that the importance of the fight against corruption cannot be overstated for a couple of reasons, the NLC President said Nigerians as a people cannot continue to live in corruption stressing that Nigerians must be firm and resolute in their support for good governance and fight against corruption.

He said ‎that the judiciary has a big role to play by ensuring timely and speedy disposal of corruption cases.

“Certainly, we as a people cannot continue to live like this, except we want to be the laughing stock of the rest of the world.

Similarly, our teeming youth and the army of the unemployed who look onto their country for their means of livelihood, will not fold their hands while a few privileged individuals corner the national resources.

We believe for the war against corruption to endure, we as a people must be firm and resolute in our support for good governance and fight against corruption.

We must entrench the culture of accountability, ensuring that public officers are accountable even out of office.

Finally, as more recoveries are made, we expect more disclosures on not just the funds but how they are used or to be used.” Comrade Wabba said

The Federal Government had last Saturday announced that it has made cash recoveries totalling N78,325,354,631.82 and $185,119,584.61, 3,508,355.46 Pounds Steling and 11,250 Euros from 29 May 2015 to May 2016.