By taibat Ummi Yakubu
Former President Olusegun Obasanjo has raised fresh concerns over the impact of corruption on ordinary Nigerians, warning that the persistent diversion of public resources is deepening poverty and slowing the country's development.
Speaking in Lagos on Monday at the unveiling of Unexplained Wealth: A Trilogy of Nigerian Financial Law, a three-volume publication authored by Senior Advocate of Nigeria, Dr. Wahab Shittu, Obasanjo described corruption as one of the biggest obstacles standing in the way of Nigeria’s progress.
The former president said the burden of corruption falls most heavily on the poor, who bear the consequences of weak public services, economic hardship and lost development opportunities.
According to him, corruption has become a dangerous force that undermines national growth and widens the gap between the privileged and the vulnerable.
“Those who suffer most in a corrupt society are the poor, and corruption only makes them poorer,” Obasanjo said.
He argued that meaningful development would remain difficult to achieve unless public institutions are strengthened and individuals who misuse public resources are held accountable.
Reflecting on his years in office, Obasanjo pointed to efforts made during his administration to build a stronger anti-corruption architecture through agencies such as the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC).
The event also featured contributions from prominent public figures who examined the challenges of fighting illicit enrichment and recovering stolen assets.
The Emir of Kano, Muhammadu Sanusi II, cautioned that passing anti-corruption laws alone would not solve the problem unless political and judicial institutions are also reformed.
Sanusi stressed that the success of any law targeting unexplained wealth depends on whether investigators, prosecutors and judges are able to operate independently and fairly.
He expressed concern that political influence often determines who faces scrutiny and who escapes it.
According to the monarch, individuals with powerful political connections may avoid investigation despite questions surrounding their wealth, while others may become targets because they lack similar protection.
“We live in a society where if you have unexplained wealth and the right political cover, nobody asks questions. But if you are on the wrong side of politics, you can find yourself in trouble,” he said.
Sanusi called for the impartial enforcement of anti-corruption laws, insisting that justice must be applied equally regardless of a person's status, affiliation or political influence.
Former Vice President Yemi Osinbajo, represented by his former Chief of Staff, Ade Ipaye, also weighed in on the debate, emphasizing the need for a legal framework that balances asset recovery with the protection of citizens' rights.
In a message delivered at the event, Osinbajo said Nigeria urgently needs a transparent and constitutionally sound system capable of recovering stolen assets without threatening wealth that was lawfully acquired.
“What we need most urgently is a clear, fair and constitutionally sound approach that can recover what was stolen without threatening what was lawfully earned,” he stated.
Adding another perspective, legal scholar and Senior Advocate of Nigeria, Prof. Olanrewaju Fagbohun, warned against assuming that wealth is criminal simply because there is limited documentation to support it.
Fagbohun noted that Nigeria's large informal economy means many legitimate business transactions are not always backed by the conventional records commonly found in the formal sector.
He urged policymakers and law enforcement agencies to take those realities into account when implementing laws on unexplained wealth.
Speaking on the motivation behind his book, Shittu said the publication was designed to contribute to the development of a legal framework that can effectively separate legitimately earned wealth from assets obtained through corruption and other unlawful activities.
The senior lawyer maintained that wealth itself should never be viewed as suspicious, stressing that the real concern is how such wealth is acquired.
“Making wealth and becoming rich is not a crime. But becoming rich through dubious means is a crime,” Shittu said.
He emphasized that proper financial records remain essential in determining whether assets were obtained legally, warning that without reliable documentation and clear legal standards, anti-corruption efforts could become driven by suspicion rather than evidence.
Shittu added that his work seeks to provide practical and legal guidance for addressing the complex issue of unexplained wealth while protecting legitimate enterprise and investment.
The discussions at the event underscored a common concern among speakers: that Nigeria's fight against corruption will require not only stronger laws but also credible institutions, transparent enforcement mechanisms and a justice system trusted by the public.
For many of those gathered, the challenge is no longer simply identifying corruption, but building a system capable of combating it fairly, consistently and effectively without undermining the rights of law-abiding citizens.
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