Nigeria’s Wealth Must Not Be Buried in a Family’s Account.

By George Omagbemi Sylvester — published by SaharaWeeklyNG.com

“Stop the looting; start the lifting; our oil, our schools, our future.”

Nigeria sits on a treasure trove – OIL, GAS, ARABLE LAND, MINERALS and a HUMAN CAPITAL POOL BRIMMING with TALENT. Yet year after year, decade after decade, those riches vanish into a narrow CUL-DE-SAC: private bank accounts, shell companies, luxury mansions and politically-protected empires. This is not accident. It is deliberate. It is theft dressed in law, in contracts and in the cloak of impunity. Make no mistake: when a nation’s wealth is siphoned into a few family accounts, the country dies a little more each day; its hospitals crumble, its children go hungry, its schools rot and its future is mortgaged to foreign lenders.

The scale of the damage is not rhetorical. Nearly half of Nigerians (an estimated 45–47 percent) live in poverty today, a backslide from gains made in previous decades. This is not HAPPENSTANCE; it tracks directly with a failure to translate national resources into public goods and inclusive growth. When resource rents are privatized, the social contract ruptures. The numbers come from the World Bank and national poverty assessments: tens of millions of Nigerians count themselves among the dispossessed while national treasure is diverted.

Corruption in Nigeria is structural and systemic, not episodic. Transparency International ranks Nigeria among the countries with the lowest public-sector integrity scores, placing it deep in the lower third of the global table. That ranking is not just a badge; it is a diagnostic: weak institutions, opaque procurement, entrenched patronage networks and a justice system that is slow or selective. When you have that ecosystem, state wealth becomes private wealth.

We must be precise about who benefits and who loses. In the past years, Nigeria’s anti-graft bodies reported significant recoveries (nearly half a billion dollars in one year) a sign both of the scale of grand corruption and the capacity of law enforcement when political will aligns with teeth. Yet recoveries are only part of the picture: they point to an enormous stock of looted assets and a flow of stolen revenues that have already damaged infrastructure, education and health for generations. Recoveries are APPLAUSE-WORTHY only if followed by institutional reform that prevents RE-LOOTING. Otherwise, they read like mopping the floor while the tap remains open.

Why does this matter? National wealth is the fuel for public services. When royalties, taxes and export receipts are diverted to private coffers, the obvious consequences follow: SCHOOLS lack TEACHERS, HOSPITALS lack MEDICATION/TABLETS, ROADS remain UNBUILT and SECURITY FORCES are UNDER-RESOURCED. The International Monetary Fund and World Bank have repeatedly warned that revenue leakages and weak governance constrict fiscal space for development and leave ordinary citizens exposed to austerity that benefits no one but the already wealthy. The IMF’s policy teams have documented how mismanagement and corruption eat into budgets that should be used for human development.

This is not a problem without solutions. Though solutions demand ferocity; legal, institutional and civic. First: transparency. Every contract, every licence, every major procurement in extractive sectors must be published, audited and put in the public domain. Citizens have a right to know how much was earned, how much was spent and who benefited. The Extractive Industries Transparency Initiative and similar frameworks exist for a reason: sunlight is the antiseptic that kills many corrupt arrangements. Countries that have enforced publishing and independent audit have seen substantial reductions in leakages and higher public trust. Lack of transparency is the first oxygen upon which looting breathes.

Second: strengthen legal institutions and make enforcement impartial. It is not enough to recover stolen assets when prosecutions are rare, sentences light and legal processes drag on. The EFCC and other bodies must be independent, funded and legally insulated from political interference. Fast-track courts for corruption cases, asset-freezing orders that take effect immediately and international cooperation to follow illicit flows must be scaled up. The recent record of asset recovery shows capability; but capability must be matched with consistency and due process.

Third: redesign public finance to minimize single-point vulnerabilities. RESOURCE-DEPENDENT economies must create sovereign wealth vehicles with strict governance rules; independent boards, multi-year budgeting rules and mandatory social spending floors that cannot be altered by one executive’s whim. A WELL-GOVERNED sovereign fund transforms resource volatility into predictable investment in education, healthcare and infrastructure. When properly governed, resource wealth becomes a buffer, not a temptation. The IMF and World Bank have repeatedly endorsed these mechanisms.

Fourth: rebuild civic culture and elite responsibility. No law can substitute a society that tolerates theft. As economist and global thinker Dambisa Moyo warns about dependency and poor governance, SUSTAINABLE GROWTH REQUIRES ACCOUNTABILITY and ELITE COMMITMENT to NATIONAL WELLBEING; not personal accumulation masquerading as public service. And as a salient voice in Nigerian public life, Ngozi Okonjo-Iweala has long reminded us that fighting corruption requires citizens at every level; there are no bystanders in a functional democratic fight against kleptocracy. These are not empty slogans: they are the moral spine of reform.

There will be pushback. Those who have enjoyed privatized state wealth will invoke NATIONALISM, BUREAUCRATIC COMPLEXITY, or “POLITICAL WITCH-HUNTS.” Ignore him. This is not about revenge; it is about recovery, fairness and survival. It is about replacing patronage with performance, secrecy with scrutiny and capture with competence.

Let us be blunt: ACCOUNTABILITY IS NOT A COSMETIC EXERCISE. It will require targeting HIGH-LEVEL ENABLERS; accountants, lawyers, bankers and foreign intermediaries who design and conceal schemes. It will require cooperation from international financial centers, tougher ANTI-MONEY-LAUNDERING ENFORCEMENT and a refusal to treat recovered assets as political bargaining chips. When the law is crisp and the will is fixed, stolen wealth returns to public use to build SCHOOLS, to widen CLINICS, to make POWER available for factories and farms.

Finally, Nigerians must demand a different social bargain. Vote, protest, litigate and monitor. Civil society must be endowed, not harassed. Journalists must be free and protected to follow stories that lead to offshore accounts and private islands. Citizens must refuse the bargain where family enrichment substitutes for national stewardship. The country’s wealth must be a NATIONAL INHERITANCE and not a FAMILY HEIRLOOM buried in an invisible account.

To paraphrase the blunt truth of our times: wealth hidden in a family account is wealth wasted for a nation. Every naira that disappears from public books is a teacher who will not be hired, a clinic that will remain without medication/tablets, a road that will never be paved. If we do not act, we consign our children to inherit a nation of truncated promise.

This is not pessimism. It is a call to arms. Nigeria’s riches are not fated to enrich only a few. With transparency, legal rigor, institutional redesign, international cooperation and civic insistence, we can finally ensure that what belongs to Nigeria benefits Nigerians. We must refuse the theft of tomorrow’s opportunities to pay for today’s ostentation.

“STOP BURYING OUR WEALTH IN PRIVATE GRAVES” should be more than a slogan; it should be a NATIONAL DEMAND. The time to speak it aloud, loudly and collectively is NOW.

Renowned Legal Practitioner, Smart I. Nwobi, Advocates Diaspora Voting Rights and Calls for End to Migrant Harassment in South Africa.

By George Omagbemi Sylvester | SaharaWeeklyNG.com

The Nigerian diaspora is often referred to as the country’s “seventh geopolitical zone,” a community of millions scattered across the globe whose remittances, knowledge and influence remain a lifeline to the nation’s economy. Yet, despite their contributions, Nigerians abroad continue to be excluded from electoral participation and often find themselves at the mercy of hostile immigration policies in foreign lands. At a recent gathering of the National Association of Nigerian Students in Diaspora (NANS-D), one of the country’s most respected voices in law and advocacy, Smart I. Nwobi, brought these issues into sharp focus.

Delivering a keynote address on behalf of the Nigerian Union South Africa (NUSA), Nwobi urged the Federal Government of Nigeria to take bold steps towards granting diaspora voting rights and to work closely with African governments (especially South Africa) to end the harassment of migrants. His address, delivered with conviction and clarity, was not just a call for reform, but a blueprint for how Nigeria could finally turn its global citizens into an asset rather than an afterthought.

Diaspora Voting: An Unfinished Democratic Business. For decades, Nigerian leaders have spoken glowingly of the diaspora’s impact, yet have done little to integrate them into the political framework. According to the World Bank, Nigeria received over $20.1 billion in diaspora remittances in 2023, making it the highest in Africa and one of the top ten globally. These funds have been pivotal in stabilizing households, supporting education and boosting small businesses. Beyond financial contributions, Nwobi argued that Nigerians abroad hold expertise in critical sectors (medicine, technology, law and governance) that could be harnessed for national development.

“Democracy cannot be complete if millions of its citizens are locked out of participation simply because they live beyond the nation’s borders,” Nwobi said. His position echoes practices in countries such as Ghana, Kenya and South Africa, all of which allow diaspora voting. Globally, nations like France, Italy and Portugal even reserve parliamentary seats for their citizens abroad, recognizing their unique perspectives and roles in shaping policy.

For Nigeria, Nwobi suggested that diaspora voting rights should not be symbolic, but practical; accompanied by parliamentary representation that ensures global citizens are involved in shaping the laws and policies that affect them. This, he argued, would not only deepen democracy but also restore confidence among diasporans who feel politically abandoned.

The Plague of Migrant Harassment in South Africa. Nwobi’s speech also touched on one of the most pressing challenges faced by Nigerians and other African migrants in South Africa, the wave of hostility fueled by anti-migrant groups like Operation Dudula. Over the past decade, South Africa has witnessed periodic outbreaks of xenophobic violence, often directed at Nigerians, Zimbabweans, Malawians and other African nationals accused of “TAKING JOBS” or “OVER BURDENING SERVICES.”

“South Africa and Nigeria must rise above the destructive politics of division,” Nwobi declared. “We cannot afford to watch Africans turn against each other when the rest of the world sees us as one.”

His message resonated with historical weight. Both Nigeria and South Africa played pivotal roles in the liberation of Africa from colonialism and apartheid. Nigeria, for instance, was instrumental in funding the African National Congress (ANC) during the anti-apartheid struggle. Today, however, relations between citizens of the two nations are increasingly strained by violence, stereotypes and political rhetoric.

By calling for stronger leadership from Abuja and Pretoria, Nwobi underscored the need for African unity as a prerequisite for continental growth. He stressed that harassment of migrants not only undermines human rights but also stifles the free movement of skills and talent; factors critical for Africa’s integration under the African Continental Free Trade Area (AfCFTA).

From Brain Drain to Brain Gain. One of the most compelling aspects of Nwobi’s presentation was his insistence that the diaspora should be seen not as a “LOST GENERATION” but as a reservoir of talent waiting to be tapped. He unveiled four strategic initiatives designed to shift Nigeria’s perception of its citizens abroad:

A Diaspora Think Tank Hub – a central platform for consolidating expertise from Nigerian professionals worldwide, offering advisory services to government and industry.

Soft-landing platforms for returnees – structures that make reintegration smoother for diasporans willing to return home, including housing schemes, job placement programs, and tax incentives.

Diaspora voting rights with parliamentary representation – not just giving a vote but also a voice in legislative processes.

Policy inclusion for diaspora contributions – formally integrating diaspora remittances and investments into national economic planning.

According to him, these steps would ensure that the enormous contributions of Nigerians abroad (financial, intellectual and cultural) are not wasted but directed toward national growth.

A Message of Unity and Responsibility. Nwobi also used his platform to caution against division within diaspora organizations themselves. Too often, he argued, political rivalries and domestic tensions spill into the diaspora, undermining their collective strength. He called on Nigerian ambassadors, student leaders, and community stakeholders to prioritize empowerment, cohesion and unity over partisan divides.

“Together, we rise. United, we thrive,” he concluded. “With a shared vision and a collective spirit, we will build a stronger, better, and more united front for ourselves and for generations to come.”

His words carried both optimism and urgency, reminding listeners that diaspora advocacy is not just about convenience but about survival and dignity.

Recognition of Leadership. At the event, Smart I. Nwobi was honoured with a special award of recognition for his bold advocacy, steadfast leadership and dedication to uniting Nigerians abroad. The award served as both an acknowledgment of his past contributions and a challenge to continue leading the charge for diaspora empowerment.

Global Lessons for Nigeria. Nwobi’s advocacy finds echoes in global best practices. Countries such as India and Israel have long leveraged their diasporas as engines of innovation and investment. The Indian diaspora, for example, played a crucial role in the rise of its IT sector, while Israel has benefited immensely from the expertise and capital of Jews abroad.

For Nigeria, which faces persistent challenges of governance, insecurity, and economic instability, the diaspora could be the key to reversing decades of underdevelopment. With millions of Nigerians living and working across North America, Europe, Asia and Africa, the potential to create a powerful network of influence is immense.

Final Take: A Call to Action. Smart I. Nwobi’s call at the NANS-D event is more than a Speech, it is a manifesto for change. By demanding diaspora voting rights, parliamentary inclusion and an end to migrant harassment, he has placed the Nigerian diaspora at the center of the national conversation. His proposals are not utopian but practical, rooted in global examples and grounded in Nigeria’s realities.

If Nigeria heeds his call, it could transform its diaspora from a loosely connected group of remittance senders into a structured force for political and economic development. If South Africa responds, it could ease tensions and set a continental example for migrant inclusion.

If both nations ignore these urgent appeals, they risk deepening divisions, missing opportunities and alienating millions of Africans whose contributions are indispensable.

As the applause that followed his keynote suggested, the diaspora is ready to play its part. The question is whether Nigeria and South Africa are ready to listen.

Renowned Legal Practitioner, Smart I. Nwobi, Advocates Diaspora Voting Rights and Calls for End to Migrant Harassment in South Africa.
By George Omagbemi Sylvester | SaharaWeeklyNG.com

K1 De Ultimate Inspires Wasiu Haruna Ishola L1’s Upcoming Album Masterpiece

Fuji and Apala fans are in for a treat as contemporary Apala-Fuji star, Wasiu Haruna Ishola L1, prepares to release his highly anticipated double album, Masterpiece, in Lagos this November. Supported by Big Bodeyy Promotions, the launch is scheduled for the second week of the month.

The album offers two distinct listening experiences — one side rooted in Fuji rhythms and the other in pure, original Apala music — giving audiences a fresh yet authentic take on indigenous Nigerian sounds.

Popularly known as Lagunja 1, Wasiu Haruna Ishola is the son of late Apala legend Haruna Ishola Bello and brother to renowned musician Musiliu Babatunde Haruna Ishola. With Masterpiece, he both honours his lineage and recognises the influence of his mentor, Alhaji Wasiu Ayinde K1 De Ultimate, whose artistry helped shape his approach to music.

“This album is both a tribute to tradition and a bold step into the future,” Lagunja 1 said. “It is dedicated to my late father and to my mentor, Alhaji Wasiu Ayinde K1 De Ultimate, while embracing digital innovation.”

He stressed that Nigerian musicians must embrace global advancements to rejuvenate audience tastes:

“We have to explore more, acquire new knowledge and take advantage of the ever-evolving digital world,” he added.

With its seamless blend of heritage and modern artistry — and inspired by K1 De Ultimate’s groundbreaking style — Masterpiece is positioned to be one of the standout Nigerian music releases of the year.