Fighting corruption is not a one-night affair - Obasanjo

Former President Olusegun Obasanjo has said the issue of corruption in Nigeria is not one that can be solved over-night.

The retired general, who is now an adviser to a private equity firm, New World Capital, said this during an interview with The Guardian of London in the United Kingdom recently.

Obasanjo, who was in the UK to promote investment in Nigeria, said, “Fighting corruption is not a one-night affair. Of course there are deep-rooted interests, and if you are going to deal with it, you have to deal with it ruthlessly and consistently. If you deal with it today and you then turn a blind eye tomorrow, it will come back with vengeance.”

Obasanjo insisted that corruption was not solely a Nigerian problem, adding that corruption thrived in Nigeria because of foreign co-conspirators.

While insisting that domestic change was central to the war on corruption, Obasanjo maintained that the responsibility was global

He said, “There is no part of the world where corruption is absolutely eliminated. But (in other countries) that corruption has not been a way of life. When you are found, you are dealt with. And that’s what we need.

“The givers of most of the corruption in Africa are from outside Africa. They do in Africa, [things] they would not do in their own countries. In my part of the world, we have a saying that the man who carries a pot of palm oil from the ceiling is not the only thief. He has an accomplice in the man who helps him to bring it down. The giver and the taker are criminals, and they should be treated as such.”

New World Capital, where Obasanjo is now serving as an adviser, is raising money internationally to invest in Africa.

He is also working as a roving ambassador, facilitating firms’ entry into Nigeria and the rest of the continent, a role he sees as a public duty.

He is no convert to what he calls “naked capitalism”, but hopes positive examples of business success will encourage avaricious minds to look for more legitimate routes to wealth.

“I still believe in the opportunities that Africa affords to make legitimate money. Africa is one place I believe that if you are courageous enough, you get the money; you can invest and get 25 per cent return on your investment annually.”

“There aren’t many places in the world where you can get that return,” he said.