Water Resources: Africa Loses $50bn Annually To Smuggling – Obasanjo

Bidemi Bello  
Updated November 10, 2017
Water Resources: Africa Loses $50bn Annually To Smuggling – Obasanjo
File photo

Former President Olusegun Obasanjo says about $50billion worth of water resources and fishery are illicitly taken away through the waterways across Africa annually.

The former President, who spoke on Thursday at a conference in Ogun State, was also worried about the increasing rate of the activities which he said was resulting in a huge economic loss.

“$50billion worth of fish and other water resources are illicitly taken away from Africa annually. This is a major concern for African leaders – past and present,” he said.

He was addressing a gathering at the 1st Annual Nigeria Anti-Fraud Conference organised by the Association of Certified Fraud Examiners (ACFE), Lagos, Nigeria Chapter, which held in Abeokuta, the Ogun State capital.

Obasanjo decried the ugly trend being experienced on African waterways as a source of concern for African leaders and called on everyone on the continent to tackle the problem together.

He said Nigeria and other African countries might not develop if the people turn deaf ears to the common problems, especially fraud and corruption that have been the bane of socio-economic growth and development of the continent.

The former President, who was named as grand patron of ACFE, Lagos, also asked the financial professionals and all members of the association to help tackle the challenges in Nigeria and across the continent.

“We are now trying and putting up efforts to ensure that we prevent it. Organisation like you can also help us and Africa to fight corruption and fraud in Nigeria and Africa as a whole,”  he said

Earlier in his remarks, the President and Chief Executive Officer, ACFE, Godwin Oyedokun, thanked the former President for his support for the association.

Oyedokun said Obasanjo was named their grand patron for his efforts against fraud and corruption in Nigeria, even after his tenure as president ended.

He said: “It is really a delight to host Chief Olusegun Obasanjo. Your acceptance of our invitation is an indication that you have the love of this nation at heart.

“Let me say that two things informed our decision to have you in our midst. First, ACFE, Lagos Nigeria Chapter recognises your role in sanitising the Nigeria system before, during and even after you have left government and secondly, we want to honour you as our grand patron – the one we could always run to for advice, guidance and mentorship.”