TUC Warns FG On Corruption

The Trade Union Congress (TUC) on Thursday called on Federal Government to stop paying lip service to the fight against corruption , stressing that the issue of money laundering in Nigeria has become very messy as over $15 million cash smuggled out of the country was recently seized by South African authorities. The labour center has also alerted the Government on the geometrical rise of Nigeria’s domestic debt that now stands at $57.6 billion dollars (about N9.8 trillion) as it insisted that the trend has negative implications on different sectors of the economy. TUC’s President, Comrade Bobboi Bala Kaigama made these calls at the Secretariat of the Labour center in Lagos, while addressing newsmen on the adverse effects of money laundering on the nation’s economy He said: “We call on the Federal Government to stop paying lip service to the fight against corruption in the country as the adverse effects of corruption on our national life has become an open secret “It is worrisome that large sums of money are moved out of the country illegally as money laundering and the Government is not brining the culprits to book”, he added “I believe that if Government can develop the political will and begin to prosecute established cases of corruption against political office holders, adequate signals would have been sent to all corrupt individuals that they will pay the price for engaging in corrupt practices and this will certainly serve as deterrent to others”, he said. Kaigama, who noted that the World Bank’s recent reports that more than 75 per cent of money voted for capital expenditure in Nigeria invariably end up in private pockets, challenged the Government to arrest the illegality now that the nation is preparing for general elections.