society
Nigeria’s Wealth Must Not Be Buried in a Family’s Account
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.
society
From Broadcast to Spiritual Renaissance: The Journey of Alọba A. Orisabimbola Ifatomi, Creator of ÒRÌṢÀTV
From Broadcast to Spiritual Renaissance:
The Journey of Alọba A. Orisabimbola Ifatomi, Creator of ÒRÌṢÀTV
In a time when African stories are often misrepresented or diluted, a seasoned voice in Nigeria’s media and creative industry is stepping forward with a bold vision to reclaim, preserve and project the depth of African spirituality through a new wave of cinematic storytelling powered by technology.
Alọba Adewunmi, a respected broadcaster, journalist and creative professional, is the mind behind ÒRÌṢÀTV a groundbreaking platform using Artificial Intelligence (AI) cinematic production to tell authentic Yoruba stories rooted in cosmology, spirituality and cultural heritage.
ÒRÌṢÀTV is not just a channel it is a destination to experience “The Beginning”, a Yoruba cosmology-based AI cinematic series that explores the origin of life and existence through an African lens.
A Career Built on Media Excellence
With years of experience across broadcast and print media, Alọba Adewunmi has established himself as a dynamic storyteller and cultural voice.
He has worked with several notable platforms including OSBC, Orisun FM, Yotomi Cable, Okin FM, Midland FM, Delta Cable, Akede Oodua Publications and Akede Africa.
His professional journey includes:
– Reporter at Alariya Oodua
– Editor at Gbajumo Online Magazine
– General Editor at Akede Africa ( a bilingual news magazine)
Through these roles, he has contributed significantly to journalism, cultural reporting, politics, crime and entertainment.
A Multifaceted Creative Force
Beyond journalism, Alọba Adewunmi’s creative footprint extends deeply into film and storytelling.
He is not just a performer, but a creative architect behind the scenes, serving as:
– A Continuity Director
– Continuity Director of the home video “Tobi (Forgiveness)”, produced by Kola Adeyemo
– A Story Writer and Dialogue Director
– A Scriptwriter
He has also contributed to several home video productions from the late 1990s through the early 2000s, reflecting a long-standing presence in Yoruba film storytelling.
A Spiritual Path and Cultural Mission
Beyond media and film, his journey is rooted in a deeper spiritual calling.
Alọba Adewunmi is a traditional priest, teacher and herbal medicine practitioner, dedicated to the preservation and practice of Yoruba spirituality.
His temple, Obàtálá Alábãlàse Temple of Purity, stands as a sacred center for purity, healing and spiritual guidance.
The Vision Behind ÒRÌṢÀTV
ÒRÌṢÀTV is more than a content platform, it is a cultural revival movement powered by AI-driven cinematic storytelling.
Through this innovative approach, the platform explores:
– The origin of existence
– The roles of divinities
– The structure of human destiny
– The spiritual laws governing life
The debut episode, “The Birth of Ilẹ̀ Àwọn Alààyè”,( Command of Creation ) marks the beginning of the series “The Beginning”.
Blending mythology, spirituality and AI-powered visuals, ÒRÌṢÀTV offers a unique experience that is both educational and deeply immersive.
A Mission Beyond Entertainment
For Alọba Adewunmi, this project goes far beyond entertainment.
It is a mission to preserve indigenous knowledge, educate future generations, correct misconceptions about African spirituality and restore pride in African identity.
The Man Behind the Vision
Despite his wide experience and creative influence, Alọba Adewunmi remains a naturally private and introverted individual.
He is known more for his work than for public appearances moving quietly between his professional responsibilities and personal space.
Rather than seeking the spotlight, he has consistently chosen to let his talent, creativity and impact speak for him.
Those who encounter his work or collaborate with him understand the depth he brings a reminder that true substance is not always loud and presence is not always public.
Looking Ahead
With Episode 1 now released, anticipation continues to build as “THE BEGINNING” prepares to explore deeper aspects of creation, human destiny and spiritual alignment.
This is not just a project it is a legacy unfolding through culture, spirituality, and innovation.
Watch Now
THE BEGINNING
Episode 1
The Birth of Ilẹ̀ Àwọn” Command of Creation)
Available on YouTube.
Media & Contact
For interviews, features and collaborations:
08125883088
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All Rights Reserved
TY BURATAI HUMANITY CARE FOUNDATION COMMENDS GOVERNOR ZULUM FOR HELPING MILITARY FAMILIES
The TY Buratai Humanity Care Foundation has commended Borno State Governor Babagana Umara Zulum for his generous donation of ₦150 million to the families of three military officers who were tragically killed in recent attacks. Each family received ₦50 million as part of the state’s continued commitment to supporting fallen heroes and wounded personnel involved in counter-insurgency operations.
The commendation was contained in a statement signed by the foundation’s chairman, Ibrahim Dahiru Danfulani Sadaukin Garkuwan Keffi/Betara Biu, and made available to the press.
The foundation expressed gratitude for the governor’s compassionate gesture, which included personal visits to the families of the late Lieutenant Colonels Umar Farouq, Salihu Iliyasu, and Aliyu Saidu Paiko in Abuja, Niger, and Kano States. During the visits, Governor Zulum offered his condolences and praised the service, sacrifice, and patriotism of the fallen officers.
The foundation’s Grand Patron, His Excellency, Lieutenant General Tukur Yusufu Buratai, CFR (Rtd), personally commended the governor’s dedication to improving the lives of Borno State residents. He also extended his condolences to the families of the officers and soldiers who made the ultimate sacrifice in service to the nation.
During his visits, Governor Zulum reaffirmed his administration’s commitment to supporting bereaved families, which includes offering scholarships to the orphaned children of fallen personnel. He pledged to extend similar visits to other affected families, underscoring a compassionate approach to addressing the needs of those who have suffered in the line of duty.
society
Queen Amb Dr. Nwamaka Cordelia Anyatonwu Appointed Minister of Humanitarian, Culture, and Kingdom Affairs, United Kingdom of Atlantis
*Queen Amb Dr. Nwamaka Cordelia Anyatonwu Appointed Minister of Humanitarian, Culture, and Kingdom Affairs, United Kingdom of Atlantis
Her Majesty Queen Amb Dr. Nwamaka Cordelia Anyatonwu, Queen of the Aches Empire under the jurisdiction of the United Kingdom of Atlantis (UKA), has been appointed as the Minister of Humanitarian, Culture, and Kingdom Affairs, effective immediately.
This appointment comes as the UKA takes decisive steps to strengthen its humanitarian efforts and protect its citizens from unauthorized activities. In light of recent developments, the UKA has issued an official public disclaimer cautioning citizens, followers, and the general public about the activities of individuals promoting and operating a coin or platform not officially recognized by the Atlantian Gold Coin (ATC). This follows the hijacking of the 5 billion humanitarian project, a move that has been met with concern and condemnation from the international community.
As the newly appointed Minister, Queen Amb Dr. Anyatonwu has announced that all matters pertaining to the 5 billion humanitarian project in UKA should be directed to her office. This includes the newly captured NGOs, which are now required to report to the Office of Humanitarian Affairs, ensuring transparency and accountability in the management of humanitarian resources.
“We are committed to transparency and accountability in our humanitarian efforts,” said Queen Amb Dr. Anyatonwu. “We urge all stakeholders to work with us to ensure the success of our initiatives and protect our citizens from unauthorized activities. We will not tolerate any form of exploitation or mismanagement of humanitarian funds, and we will take all necessary measures to ensure that those responsible are held accountable.”
The UKA has assured its citizens and the international community that it is taking all necessary measures to recover the hijacked funds and bring the perpetrators to justice. The appointment of Queen Amb Dr. Anyatonwu is seen as a significant step towards achieving this goal and ensuring that humanitarian efforts are aligned with the UKA’s values and principles.
For more information. Please contact the Office of the Minister of Humanitarian, Culture and Kingdom Affairs.
*About the United Kingdom of Atlantis*
The United Kingdom of Atlantis is a sovereign nation committed to promoting peace, prosperity, and humanitarian values. The UKA is dedicated to working with international partners to address global challenges and improve the lives of its citizens and people around the world.
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