How Nigerian Governors Embezzle Money

I don’t know how many of us have been following Yahaya Bello’s EFFC trial

Please, if you are not following, I beg you to follow the proceedings.

The trial will give you a clue how our 36 states' governors are looting their states dry every month till their tenure is over and why our country is irredeemable as long as these present political elites are in charge.

So this is the looting template.

Receive allocation from Abuja and then generate revenue from helpless poor citizens of their state through IGR, and then the looting starts.

For those who have a conscience, they loot by awarding an overinflated contract, and through that funnel, funds are recycled to them, which are instantly converted to dollars.

Most times, The highly inflated contract are not executed as they awarded as a way of siphoning money.

For those of them that don’t have a conscience like Yahaya Bello, they simply loot with brazenness and without fear of God without recourse to looting via awarding of contract.

Apparently, what Yahaya Bello did as Kogi State governor was just to wait for allocation to arrive; once it drops, the looting starts as money is withdrawn from the state bank account and converted to dollars by a trusted BDC through his nephew.

It is either the money is channeled to the buying of properties in Abuja and Dubai on behalf of Yahaya Bello through his proxy and cousin Ali Bello or the money is channeled to one of his numerous side chicks or to his wives account.

It was because Yahaya Bello had too much excess liquidity; that is why he paid upfront, the dollar school fees of his kids studying at an American school in Abuja.

The EFCC alleged that Yahaya Bello stole 110 billion in less than 8 years as Kogi State governor.

Imagine for a moment what 110 billion could have done in the lives of ordinary citizens of Kogi.

The roads it could have built

The hospitals and young people that their lives could have been changed forever.

Politics is lucrative in this part of the world.

Yahaya Bello is not an outlier because what he did is what other governors did or are doing, whether APC or PDP.

The Nigerian people are poorer because we have thieving political elites as our leaders.

By Chukwudi Iwuchukwu

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