society
When History Repeats: How Nigeria’s Wealth Was Looted by Leaders Who Should Have Protected It
When History Repeats: How Nigeria’s Wealth Was Looted by Leaders Who Should Have Protected It.
By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com
“Every government since independence has looted us; from DICTATORS to DEMOCRATS; same story, same stealing. Our oil wealth built their empires abroad, the POVERTY of MILLIONS is the WEALTH of a FEW. Nigeria’s CURSE is not OIL, it is CORRUPT LEADERS.”
Nigeria’s Endless Looting Cycle: Nigeria is a land rich in resources but poor in accountability. Oil gushes, gas flares, taxes are collected – but the benefits vanish into private bank accounts and foreign mansions. The greatest betrayal is not the lack of resources, but the deliberate theft of national wealth by those sworn to defend it. From military dictators to civilian presidents, Nigeria’s wealth has been buried in family accounts while citizens are left with BROKEN ROADS, DECAYED SCHOOLS and FRAGILE HOSPITALS.
The Looters by Name:
General Ibrahim Babangida (1985–1993)
IBB presided over Nigeria during the Gulf War oil boom of 1991. Nigeria earned $12.4 billion, but no one can account for it. Till today, Nigerians ask: “Where is the $12 billion?” Babangida’s fortune and the opulence of his Minna Hilltop mansion are symbols of a wealth gap carved by looted oil receipts.
General Sani Abacha (1993–1998)
The most infamous kleptocrat in Nigerian history. Abacha looted between $2.4 and $5 billion. Swiss, U.S. and British courts have frozen and returned billions over the years. In 2022, the U.S. repatriated another $23 million, proof that his theft still haunts us. His family treated the treasury as a personal vault.
“The Abacha loot is not history; it is an open wound still bleeding Nigeria.”
Olusegun Obasanjo (1999–2007)
Celebrated for bringing democracy, condemned for waste. Obasanjo’s $16 billion power sector scandal remains the most expensive blackout in history. His privatization program, which sold state assets like NITEL and ALSCON, was riddled with allegations of favoritism.
Goodluck Jonathan (2010–2015)
Jonathan’s presidency saw Nigeria’s highest oil revenues, yet little trickled down. Then-CBN Governor Sanusi Lamido Sanusi exposed $20 billion missing from NNPC accounts. Instead of answers, he was sacked. The notorious OPL 245 Malabu deal also belongs to this era, with over $1.1 billion diverted from national coffers to private pockets.
Diezani Alison-Madueke (2010–2015)
As Petroleum Minister, Diezani wielded immense power. Today, she faces charges of massive corruption. In 2025, the U.S. returned $52.88 million linked to her; luxury homes, cars, even a yacht. For many Nigerians, she symbolizes how a single official can treat an entire ministry as a personal empire.
Muhammadu Buhari (2015–2023)
Buhari promised to fight corruption. Instead, scandals multiplied. The N81 billion NDDC scandal, the arms procurement diversion under Sambo Dasuki and misuse of COVID-19 relief funds showed that corruption did not stop; it adapted. Buhari’s silence on many scandals raised questions about whether his “WAR ON CORRUPTION” was selective.
Bola Ahmed Tinubu (2023–Present)
Tinubu’s presidency is young, but allegations are not. From the $460,000 U.S. drug-related forfeiture in the 1990s to the controversial ₦10 billion solar panel project at Aso Rock, Tinubu faces credibility questions. While no conviction stands against him, the perception of opacity undermines his leadership.
The Real Cost of Looting.
Poverty: 87 million Nigerians live below the poverty line. That is almost half the population.
Infrastructure Gap: Nigeria needs $100 billion annually to fix roads, power and hospitals, these are money stolen many times over.
Debt Burden: External debt has soared beyond $42 billion, while stolen wealth sits in London mansions and Swiss vaults.
Erosion of Trust: Citizens see government not as a provider but as a predator. Voter apathy, tax evasion and unrest are inevitable.
“The trouble with Nigeria is simply and squarely a failure of leadership.” ~ Chinua Achebe
“Corruption is dangerous and can kill a nation.” ~ Ngozi Okonjo-Iweala
“Nations fail because extractive elites steal resources and prevent growth for the many.” ~ Daron Acemoglu
Timeline of Looted Wealth
1991: Babangida’s Gulf War oil windfall of $12.4 billion disappears.
1993–1998: Abacha loots billions; recovery continues 25 years later.
2005: Gov. Diepreye Alamieyeseigha impeached and later convicted for money laundering.
2012: Sanusi Lamido Sanusi reveals $20 billion missing oil revenue under Jonathan.
2015–2023: Buhari’s government rocked by NDDC and arms procurement scandals.
2025: U.S. returns $52.88 million linked to Diezani Alison-Madueke.
The Way Forward.
Name and Shame: No more sacred cows. Every looter must be documented in public record.
Independent Anti-Corruption Courts: Trials should not drag for decades. Swift justice must replace endless adjournments.
Ring-fence Recovered Funds: All recovered loot should be used for schools, hospitals and infrastructure, not recycled into fresh corruption.
Transparency in Oil & Gas: Every contract, license and payment must be made public.
International Cooperation: Banks in London, Zurich and Dubai must stop shielding looted Nigerian money.
Citizen Power: Nigerians must rise. CORRUPTION THRIVES NOT IN ASO ROCK ALONE, BUT IN THE SILENCE OF THOSE WHO SUFFER.
The Final Reckoning: From Abacha to Tinubu, looting has defined leadership. The cost is not abstract. It is the child who dies in a hospital without medicine, the graduate roaming the streets jobless, the farmer without electricity for irrigation, the mother walking 10 kilometers for clean water.
EVERY NAIRA STOLEN IS A DREAM DEFERRED. EVERY DOLLAR LOOTED IS A FUTURE DESTROYED.
If Nigeria is to rise, the era of burying wealth in family accounts must end. History has named the thieves. Now, the people must demand justice.
TY BURATAI HUMANITY CARE FOUNDATION CONDOLES WITH BIU EMIRATE OVER TRAGIC ATTACK
In a profound expression of sorrow, the TY Buratai Humanity Care Foundation has extended its heartfelt condolences to the families of the victims and the entire people of Biu Emirate, Borno State, following the recent tragic attack attributed to Boko Haram. This devastating assault, which occurred at a work site in northeastern Nigeria, claimed the lives of dozens, including brave soldiers committed to protecting the nation.
In a statement released to the press and signed by the Chairman of the foundation, Ibrahim Dahiru Danfulani Sadaukin Garkuwan Keffi/Betara Biu, the Grand Patron of the Foundation, His Excellency Amb. Lt. Gen. Tukur Yusufu Buratai CFR (Rtd), former Chief of Army Staff, described the incident as “one too many senseless, barbaric, and ruthless displays of inhumanity.” His Excellency emphasized the heartbreaking impact of such attacks on innocent, hardworking citizens striving to make a positive difference in their communities.
The Grand Patron praised the swift and decisive response of military personnel during this critical time, underscoring their brave commitment to safeguarding the nation. He called upon them to maintain this momentum, commending their courage and sacrifice in the face of adversity. “May Almighty Allah forgive their souls and grant them Aljannah Firdouse,” he remarked, encouraging the nation to honor their spirit of sacrifice as they rally together to rebuild and restore hope across the region.
In his statement, Gen. Buratai highlighted the importance of collective action in overcoming the challenges posed by insecurity, urging concerned citizens to increase their efforts in fostering a virile community that future generations can cherish. “Together, we can surmount these troubles,” he asserted, calling on all patriotic leaders and citizens to unite in the fight against violence and insecurity.
The TY Buratai Humanity Care Foundation remains committed to supporting initiatives that promote peace, security, unity, and prosperity. As the foundation extends its condolences to the bereaved, it also calls upon all segments of society to collaborate in creating a better and safer future. May Allah guide and protect the nation and lead it toward enduring peace. Amen.
society
Rt Hon Treasure Edwin Inyang Appointed Secretary General to the Government of UKA (Worldwide)
Rt Hon Treasure Edwin Inyang Appointed Secretary General to the Government of UKA (Worldwide)*
January 29, 2026 – A prestigious appointment has been announced in the reign of Emperor Solomon Wining 1st, recognizing Rt Hon Treasure Edwin Inyang as the *Secretary General to the Government of UKA (Worldwide)*. The official certificate, designated STE.001-1 E, was presented to Rt Hon Inyang during a ceremonial investiture.
As Secretary General, Rt Hon Treasure Edwin Inyang will *monitor and coordinate* the implementation of government policies and programmes, serve as an advisory institution to the Government, drive policy formulation, harmonization, and implementation, and oversee the activities of ministries, agencies, and departments.
The appointment was proclaimed by *Emperor Prof. Dr. Solomon Wining*, Emperor of the United Kingdom of Atlantics and Empire Worldwide, and co-signed by *Empress Prof. Dr. Sriwan Kingjun*, Empress of Attica Empire, under the auspices of the 5 Billions Humanitarian Projects Incorporated.
The ceremony underscores the commitment to strengthening governance and humanitarian initiatives within the UKA (Worldwide) jurisdiction, effective immediately in the reign of Emperor Solomon Wining 1st.
GENERAL BULAMA BIU MOURNS BOKO HARAM VICTIMS, CALLS FOR UNITY AND RENEWED EFFORTS FOR PEACE
In a solemn message of condolence and resolve, Major General Abdulmalik Bulama Biu mni (Rtd), the Sarkin Yakin of Biu Emirate, has expressed profound grief over a recent deadly attack by Boko Haram insurgents on citizens at a work site. The attack, which resulted in the loss of innocent lives, has been condemned as a senseless and barbaric act of inhumanity.
The revered traditional and military leader extended his heartfelt sympathies to the bereaved families, the entire people of Biu Emirate, Borno State, and all patriotic Nigerians affected by the tragedy. He described the victims as “innocent, peaceful, hardworking and committed citizens,” whose lives were tragically cut short.
General Biu lamented that the assault represents “one too many” such ruthless attacks, occurring at a time when communities are already engaged in immense personal and collective sacrifices to support government efforts in rebuilding devastated infrastructure and restoring hope.
In his statement, he offered prayers for the departed, saying, “May Almighty Allah forgive their souls and grant them Aljannan Firdaus.” He further urged the living to be encouraged by and uphold the spirit of sacrifice demonstrated by the victims.
Emphasizing the need for collective action, the retired Major General called on all citizens to redouble their efforts in building a virile community that future generations can be proud of. He specifically commended the “silent efforts” of some patriotic leaders working behind the scenes to end the security menace and encouraged all well-meaning Nigerians to join the cause for a better society.
“Together we can surmount the troubles,” he asserted, concluding with a prayer for divine intervention: “May Allah guide and protect us, free us from this terrible situation and restore an enduring peace, security, unity and prosperity. Amin.”
The statement serves as both a poignant tribute to the fallen and a clarion call for national solidarity in the face of persistent security challenges.
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