Olusegun Obasanjo warns corruption hinders Nigeria’s development

Former Nigerian President Olusegun Obasanjo has warned that corruption and development are incompatible, noting that the poor bear the heaviest burden in corrupt societies. Speaking in Lagos during the launch of ‘Unexplained Wealth: A Trilogy of Nigerian Financial Law’ by Dr. Wahab Shittu, Obasanjo described illicit wealth as anti-social and anti-progress.

Obasanjo detailed his history in anti-corruption efforts, tracing his involvement from his military career as a prosecutor to his work with Peter Eigen, the founder of Transparency International. He recounted how Eigen, after witnessing the diversion of international loans during his time at the World Bank, approached Obasanjo to join the fight against grand corruption. This collaboration eventually led to the establishment of Transparency International, despite initial skepticism from figures like former World Bank president Bob McNamara.