ACN Reps’ sponsors plot to legalize foreign accounts

ACN Reps’ sponsors plot to legalize foreign accounts

The House of Representatives, not too long ago, toyed with the idea of legalizing the operation of foreign accounts by the president, governors and other public office holders in the country.

 A bill reportedly sponsored by Rep Bamidele Faparusi of the Action Congress of Nigeria (ACN), from Ekiti State, wants an amendment to Section 7 of the 1990 Code of Conduct Bureau and Tribunal Act, Cap 56, which prohibits some categories of public officers from operating bank accounts in any country outside Nigeria. 

The bill which was quickly listed, had been read by the Clerk of the House and was expected to come up for the second reading, a strong indication that the Reps have vested interests in the ungodly bill and want it expeditiously passed to law. Yet the law the Reps want twisted is in compliance with the 5th Schedule of the country’s 1999 Constitution, as amended (part one, paragraph three), which says: “The President, Vice President, Governor, Deputy Governor, ministers of the government of the federation and commissioners of the governments of the states, members of the National Assembly and Houses of Assembly of the states ….” shall not maintain or operate bank accounts outside Nigeria.

 

Faparusi in an interview with newsmen confirmed that the travails of the leader of his political party, the ACN, former Governor Bola Ahmed Tinubu of Lagos State at the Code of Conduct Bureau (CCB) inspired his sponsoring of the bill; though he denied being sent on the selfish and embarrassing errand by the ACN. Indeed, we recall that in the recent past, some public officers, past and present, including Tinubu, have had issues to sort out with the CCB for allegedly operating foreign accounts. Tinubu, for example, was arraigned in court and later let off the hook for allegedly operating more than ten foreign accounts while in office, contrary to Section 7 of the Code of Conduct Bureau and Tribunal Act; while President Goodluck Jonathan and other high ranking public officers likewise attracted public outrage over their alleged failure to declare their assets, or the under declaration of same.

 

The Code of Conduct Bureau and Tribunal Act of 1990, espe-cially in Section 7, must have been conceived by its authors after a penetrating consideration of the unpatriotic, corrupt and grossly materialistic political class that has been ruling the country, especially after the First Republic. The law would probably not have been in place but for the relentless assaults on the public treasury by politicians over the years; and which, indeed, seem to be worsening by the day under the current President Jonathan administration. Even with the law in place, political office holders hardly are deterred by it; as they allegedly indulge in anticipatory assets declaration and have persisted with utter desperation in cor-ruptly enriching themselves.

Chief Diepreye Alamieyeseigha, a former Bayelsa State governor, for example, was detained in London in September 2005 on charges of money laundering by the Metropolitan Police.

 

When he was arrested, the police found about £1m-worth of cash in his London home. Later they found a total of £1.8m ($3.2m) in ad-ditional cash and from his bank accounts. It was similarly discovered that he owned real estate in London worth an alleged £10m, among others. Alamieyeseigha managed to flee London under very mysterious circumstances, after jumping bail and allegedly disguising himself as a woman. Likewise, a former Plateau State Governor, Joshua Dariye, was ar-rested in London on January 20, 2004, with large sums of money. Dariye was accused of stealing about $9m. Just recently, for-mer Delta State governor, Chief James Ibori, was also jailed for 13 years by a London court for com-mitting similar offences. Such sharp practices are countless among the ruling class.

 

Therefore, the foreign accounts legalization bill is no less a plot to put a stamp of authority on public sector financial malfeasance, which is one of the major reasons the nation’s prostrate basic infra-structure cannot be revived, while the populace grind in economic hardship, abject poverty and leadership-inflicted penury. We urge all who wish Nigeria and Nigerians well to roundly reject the said dubious, self-serving and anti-people bill which personifies a grave disservice to the nation; especially coming from the people’s purported representatives.