Corruption costs global economy
$2.6tn yearly – Kerry
Olalekan Adetayo, Toluwani Eniola, Adeniyi Olugbemi
US Secretary of State, John Kerry, has said corruption is the root of many development challenges, adding that it costs the global economy an estimated $2.6trn yearly.
He stressed that Nigeria needed to tackle bribery, fraud, and other forms of corruption which he said were “dangerous” and undermined efforts to ensure a peaceful world.
He spoke on Tuesday when he visited the Sultan of Sokoto, Alhaji Sa’ad Abubakar.
The visit was Kerry’s third visit to Nigeria in the past 20 months.Among those that received Kerry were the Sokoto State Governor, Aminu Tambuwal, and his Zamfara State counterpart, Abdulaziz Yari.
Kerry’s speech focused on counter-terrorism efforts, the Nigerian economy, the fight against corruption, and human rights issues.
The US Secretary of State praised the President Muhammadu Buhari’s anti-corruption war, adding that the country could become a model in fighting the menace.
He said the war against corruption was a global security priority, noting that developed countries had an obligation to help others to tackle the effects of corruption.
While bemoaning the activities of the Boko Haram sect and extremists globally, Kerry said countries ravaged by terrorism needed to do more than merely denouncing bad ideologies that the terrorists support.
“They also have to offer their citizens an alternative that is better, that offers hope that actually delivers on its promises,” he stressed.
He added, “Corruption costs the global economy an estimated $2.6tn a year. That’s $2.6tn that could be going towards infrastructure, health care, education, food security, other initiatives – any number of areas where we know we need money to be able to make the investments that give young people that sense of future.
“But, let’s be very clear: Corruption is not just a disgrace and a crime. It is also dangerous. There is nothing more demoralising, more destructive, more disempowering to a citizen than the belief that the system is rigged against them, the belief that the system is designed to fail them, and that people in positions of power, to use a diplomatic term, are “crooks” – crooks who are embezzling the future of their own people.”
Kerry commended the intervention of the Sultan in education and in preaching peace and tolerance across the country.
He described Sokoto State as special “because the teachings of religion and ethics are prioritised right alongside the virtues of reading, writing, maths, and science.”
On the havoc caused by the Boko Haram sect, the US Secretary of State said it was unfortunate that the sect had killed more than 20,000 people and displaced more than two million people.
According to him, it was important that millions who were displaced in the North-East get the humanitarian and government support that they needed to recover from the trauma.
On how to effectively counter violent extremism, Kerry said the Federal Government had to tackle the root causes.
While attributing the reasons why people joined terrorist groups partly to lack of opportunities, Kerry stressed that a strong economy and investment in people were necessary to tackle the root causes.
He further listed a vibrant anti-corruption war, good governance, promoting opportunity for men and women, showing compassion and understanding for fellow citizens, as prerequisites to curb violent extremism and to prevent it from reemerging in the future.
While restating the commitment of the US to development in Nigeria, Kerry said the US was partnering with the country and international donor agencies to establish temporary schools and other non-formal learning centres for displaced children.
Kerry also on Tuesday made a commitment to governors from the North to help them in the areas of education, health care and energy.
Kerry made the commitment at a meeting he held with five state governors from the North at the Presidential Villa, Abuja shortly after he met with President Buhari.
The governors he met included Muhammed Abubakar (Bauchi); Abdulfatah Ahmed (Kwara); Tambuwal (Sokoto); Kashim Shettima (Borno) and the deputy governor of Benue State.
The four governors briefed State House correspondents of the meeting’s outcome.
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