Ultimate magazine theme for WordPress.

Agbakoba calls for reform of anti-corruption agencies

Dr Olisa Agbakoba, SAN
Dr Olisa
Agbakoba, Human Rights Advocate and Maritime Lawyer, has called for a
reform of anti-corruption agencies in the country to reduce corruption.

 Agbakoba, who made the call at
a news conference in Lagos, said, “there has to be roots and branch reform of
the anti-corruption agencies if we must succeed in slowing down corruption’’.

He said he had written a letter to
the President-elect, Muhammadu Buhari, to address the problem of corruption.
 The maritime lawyer said that
new strong institutions would be required to reduce corruption.

 “Salaries and emoluments voted
to our legislators by themselves is about 25 per cent of our national budget.
 “This is unconstitutional
because it is not approved by the Revenue Fiscal and Mobilisation Commission.

 “It is strongly recommended
that the NNPC be fundamentally reformed,’’ Agbakoba’s said in the letter.

 He urged Buhari to consider
budget reform for the Presidential Villa and Government Houses and called for
the strengthening of the public procurement procedures and check on the award
of contracts.

 “All these have taken a major
toll on our resources and encouraged corruption.

 “The first crucial challenge is
for you to stop these aspects of corrupt practices and introduce major spending
cuts, ‘’ Agbakoba said.

 The maritime lawyer said that
legal and justice sector had suffered institutional failure over the last three
decades, adding that lip service had over time been paid to the rule of law.

 According to him, the sector
needs reform to encourage investors, because investors, whether local or
international, will not invest in a country where this is lacking.

 He, however, said that priority
should be in the diversification of the economy to make it less-dependent on
imports and on crude oil as source of revenue for the nation.

Agbakoba said it was necessary to
have a clear strategy, model and plan for economic diversification, both
horizontally and vertically.

 According to him, horizontal
diversification should explore new opportunities in the oil and gas sector,
 “Vertical diversification means
a shift from the oil and gas sector to other sectors – Agriculture, Services,
Maritime, Aviation/Space, Manufacturing, Health, Sports and many others,’’
Agbakoba said.

 The maritime lawyer also
advised that a model of the United Arab Emirate which had successfully diverted
out of oil into new revenue sources could be followed.

 He described the Financial
Service Sector (FSS) as the life blood and oxygen of a strong economy, which
must be supported by strong independent institutions for growth and

 He also spoke on the need for
welfare care for the elderly, vulnerable and disabled people in the society.

 Agbakoba talked on the need for
improved housing and mortgage scheme to enable low-income earners own their own
homes and be able to pay over a period of time.

Leave A Reply

Your email address will not be published.