Senior Advocate of Nigeria, Wahab Shittu, has expressed concern that Nigeria's progress is being hindered by unexplained wealth. According to Shittu, despite being blessed with human and natural resources, the majority of Nigeria's wealth is being carted away through unexplained means. He made this statement during the public presentation of his three-volume book, "Unexplained Wealth: A Trilogy of Nigerian Financial Law," at Oriental Hotel in Lagos State.
Shittu emphasized that if Nigeria had a working mechanism in place to check unexplained wealth, the country would make significant progress. He noted that acquiring wealth is not a crime, but the illicit acquisition of wealth is indefensible. The author stressed that it is essential to have a system that ensures wealth acquisition is transparent and justifiable. Shittu's book aims to provide guidance on this issue, particularly for anti-corruption agencies.
The book, according to Shittu, is relevant to anti-corruption agencies such as the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC). He also stated that it is essential for members of the public to understand the concept of unexplained wealth. Shittu's work is an outcome of his research and experience as a lecturer at the Faculty of Law, University of Lagos.
Shittu drew inspiration from two instances in his work as a lawyer. He prosecuted a case against a former local government chairman in Kogi State who was unable to justify assets acquired in excess of his legitimate income. This case led to the establishment of a principle that individuals who acquire assets or income in excess of their legitimate income owe the state a duty of explanation.
The author also noted that Nigeria lacks a legislative framework on unexplained wealth, unlike advanced nations like the United Kingdom. He discovered this during his research and decided to write the book to address the gap. Shittu described his work as the first text on unexplained wealth in Africa and the first time the doctrine of unexplained wealth has been explained worldwide.
Shittu advised that if investigators, judges, and prosecutors follow the prescribed rules in his book, it would be possible for the state to deliver quality and successful prosecution. He also emphasized the need to enthrone a regime of credibility throughout the prosecution process to ensure that innocent individuals are not unjustly labeled. The event was attended by dignitaries, including former President Olusegun Obasanjo.
The presentation of Shittu's book was well-received, with attendees acknowledging the significance of the work. Shittu concluded that Nigeria needs to sanitize its system, ensuring that the country's commonwealth is not siphoned away by thieves and that innocent individuals are not unjustly labeled. His work aims to contribute to the fight against corruption and promote transparency in wealth acquisition.
Key points
- Unexplained wealth is hindering Nigeria's progress.
- Nigeria lacks a legislative framework on unexplained wealth.
- Shittu's book provides guidance on unexplained wealth for anti-corruption agencies and the public.
