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Fighting Against Corruption: FG Convicts 1,400, Recovers N800bn Looted Funds-Lai Mohammed

Published

6 years ago

July 28, 2020

Joel Ajayi

The Federal Government has revealed it has recovered looted funds in excess of N800 billion with over 1,400 convictions secured.

The Minister of Information and Culture, Alhaji Lai Mohammed, stated this on Tuesday at a press conference in Abuja.

According to him, as you are all aware, Nigerians have recently been inundated with allegations of monumental corruption in a number of government agencies, including the NDDC, NSITF and the anti-corruption agency, EFCC.

“Many, especially naysayers, have misinterpreted these developments as a sign that the Administration’s fight against corruption is waning. In fact, the main opposition PDP has latched on to the developments to call for the resignation of Mr. President, a call that is nothing but infantile!

“Let me state here and now that the fight against corruption, a cardinal programme of this Administration, is alive and well. President Muhammadu Buhari, the African Union’s Anti-Corruption Champion, who also has an impeccable reputation globally, remains the driver of the fight and no one, not the least the PDP under whose watch Nigeria was looted dry, can taint his image or reverse the gains of the fight. Anyone who disagrees that the anti-corruption fight is alive and well is free to dare us.

“What the revelations of the past few weeks, especially the investigation of the nation’s anti-corruption Czar, have shown is that this Administration is not ready to sweep any allegation of corruption under the carpet; that there is no sacred cow in this fight, and that- unlike the PDP – we will not cover up for anyone, including the members of our party and government, who faces corruption allegations.

“Our fight against corruption is blind to party affiliation, position in government and any other consideration. If the nation’s anti-corruption Czar can be investigated, then the fight against corruption cannot be deemed to be fake, neither can it be said to be waning.”

He added that “I am not prepared to go into the details of the various corruption allegations – whether at the NDDC, NSITF, EFCC or any other agency – because they are all still under investigation. However, I wish to state that the allegations of corruption in NDDC, for example, are not new. What is new is the speed and seriousness with which this. The administration has tackled, and is still tackling, the allegations. Had such attention been paid to the running of the NDDC by previous Administrations, the Commission would probably have avoided its present predicament. Is it not a sad irony, then, that those under whose watch the alleged freewheeling spending by the Commission started are now the ones accusing those who are cleaning up after them of corruption?

“As I said earlier, this Administration’s fight against corruption is as strong as ever, and we have the records to back up this claim. This Administration has recorded over 1,400 convictions, including high profile ones, and recovered funds in excess of 800 billion Naira, not to talk of forfeiture of ill-gotten properties. This is no mean feat.

“Remember, gentlemen, which the fight against corruption is not about loot recovery or convictions alone. We are also putting in place enduring institutional reforms that will deter acts of corruption. Here we are talking about the Treasury Single Account (TSA), the Whistleblower Policy, the expansion of the coverage of the Integrated Payroll Personnel and Information System as well as the Government Integrated Management Information System and the Open Government Partnership and Transparency Portal on Financial Transactions, among others.

“Let me also mention the ICPC’s Constituency and Executive Projects Tracking Group, aimed at tracking performance of publicly-funded projects, and the Commission’s escalation of the use of administrative sanctions in the public service by periodically submitting, for sanction, names of public servants who are being prosecuted. There is also the review of the personnel and capital fund expenditure of MDAs.

“Therefore, those who are celebrating the so-called waning of the Administration’s anti-corruption fight are engaging in wishful thinking, and are not looking at the full ramifications of the fight.

“Let me end this press conference by quoting what Mr. President said on the fight against corruption in his speech marking the 59t independence anniversary of the country: ”This Administration has fought against corruption by investigating and prosecuting those accused of embezzlement and the misuse of public resources. We have empowered teams of prosecutors, assembled detailed databases of evidence, traced the proceeds of crimes and accelerated the recovery of stolen funds….The policies that we are putting in place today are to ensure such criminal and unpatriotic acts do not go without consequences.”

He said the current government’s fight against corruption is as strong as ever, and that the government has records to back up the claims.

Mohammed added that the government also forfeited several properties suspected to have been acquired through corrupt means.

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Strategic Partnerships, Diaspora Investment and Improved Workforce Critical to Industrialization-DG RMRDC

Published

2 days ago

November 12, 2026

The Gleamer

By: Stella Azi and Adaora Adibe

The Director-General/Chief Executive Officer of the Raw Materials Research and Development Council (RMRDC), Prof. Nnanyelugo Ike-Muonso, has called for a strategic shift from the exportation of raw commodities to domestic processing, manufacturing and value addition, declaring that Nigeria possesses enormous untapped raw material resources capable of driving industrialisation, creating jobs and strengthening the country’s economic competitiveness.

Prof. Ike-Muonso made this submission in a lecture titled Unlocking Nigeria’s Raw Material Value Chain for Industrialization, Manufacturing and Competitiveness, where he presented an extensive assessment of Nigeria’s resource endowments, industrial challenges and emerging investment opportunities across agricultural commodities, solid minerals and waste-based raw materials.

The lecture highlighted a combined US$2.65 trillion global market opportunity across 30 major raw material value chains, comprising 12 agricultural value chains valued at US$932 billion, 11 mineral value chains worth US$1.352 trillion and seven circular-economy value chains estimated at US$366 billion.

According to the RMRDC Boss, Nigeria must move beyond the traditional approach of extracting and exporting raw materials to building competitive domestic industries that transform these resources into intermediate products, industrial inputs and finished goods for local consumption and international markets.

He observed that the country’s manufacturing sector has struggled to sustain its 2014 peak, with its contribution to real Gross Domestic Product declining from 9.64 per cent in 2014 to 8.05 per cent in 2025, representing a 16.5 per cent decline. He also drew attention to the increasing cost of raw material imports, which rose to US$20.5 billion in 2025, approximately six times the 2020 level.

He explained that the growing dependence on imported industrial inputs exposes Nigerian manufacturers to foreign exchange volatility, increases production costs and weakens the competitiveness of locally manufactured products.

Prof. ke-Muonso stressed that the solution lies in developing domestic raw material value chains through deliberate investment in processing facilities, research and development, technology, infrastructure and stronger linkages between producers, processors and manufacturers.

He identified agriculture, solid minerals and industrial waste as three major resource platforms for Nigeria’s industrial transformation, stating the country’s significant production capacity and the enormous opportunities available for downstream processing.

Ike-Muonso noted that Nigeria produces over 63 million metric tonnes of cassava annually, making it the world’s largest producer, while also maintaining strong positions in cocoa, cashew, sesame, palm oil and cotton. However, more than 80 per cent of agricultural output leaves farms without adequate processing, resulting in the loss of significant economic value and industrial opportunities.

In the solid minerals sector, he identified more than 44 commercially viable minerals across over 500 locations, including lithium, gold, barite, bitumen, iron ore and high-grade limestone, describing them as strategic resources capable of supporting steel production, energy storage, electrification and advanced manufacturing.

The DG further drew attention to Nigeria’s industrial and agro-waste resources, noting that the country generates over 32 million tonnes of solid waste annually. He explained that agricultural residues, cassava peels, scrap metals, plastics and electronic waste could serve as important feedstock for bio-fertilisers, industrial chemicals, recycled polymers, energy production and other manufacturing applications.

In the agricultural sector, the DG identified cassava and industrial starch, cotton and natural textiles, natural rubber and elastomers, oil palm and oleochemicals, maize derivatives and cocoa processing as priority areas requiring increased investment.

He explained that processing agricultural commodities into industrial starch, sweeteners, textiles, technical rubber, specialty fats and other intermediate products would enable Nigeria to capture more value from its agricultural resources while reducing dependence on imported industrial inputs.

For the minerals sector, he highlighted crude oil-to-olefins and petrochemicals, lithium and energy storage, iron ore and steel, rare earth elements, bauxite and aluminium, and copper and electrification as strategic investment opportunities.

He particularly emphasised the importance of moving beyond mineral extraction into beneficiation, refining, battery precursors, industrial chemicals, metal fabrication and advanced materials production.

On the circular economy, Prof. Ike-Muonso identified electronic waste recovery, scrap metal recycling, plastic waste processing, agro-waste valorisation and battery recycling as emerging industrial opportunities.

He explained that transforming waste into productive industrial feedstock would not only reduce environmental pollution but also create new manufacturing industries, generate employment and reduce the importation of valuable industrial materials.

He noted that to address the structural challenges confronting raw material-based industrialisation, the DG highlighted the strategic interventions of the RMRDC, particularly the proposed 30% Value Addition Bill and the Nigeria Integrated Information Statistical System for Raw Materials and Products (NISSRAMP).

He described the 30% Value Addition Bill as an important policy instrument designed to encourage domestic processing of raw materials before export, strengthen local manufacturing capacity and guarantee access to essential raw materials for Nigerian industries, and NISSRAMP as a critical data infrastructure that would improve access to verified information on the availability, location and quality of raw materials.

According to him, the combination of appropriate policy instruments and reliable resource data would help de-risk investments, improve transparency and strengthen confidence in Nigeria’s raw material sector.

He emphasised the importance of collaboration among government, academia and industry in developing bankable projects, sharing investment risks and accelerating the establishment of processing and manufacturing facilities.

Professor Ike-Muonso called on Nigerians in the diaspora and other local and international investors to take advantage of the opportunities available in Nigeria’s raw material sector.

He identified industrial processing parks, mineral beneficiation and refining, agro-industrial platforms, circular-material processing, industrial input manufacturing and enabling infrastructure as viable investment platforms.

He noted that diaspora investors could contribute beyond financial capital by bringing technology, international business networks, governance standards, technical expertise and access to global markets.

He maintained that Nigeria’s industrial transformation requires coordinated investment across the entire value chain, from raw material sourcing and aggregation to processing, manufacturing, certification and export development.

Professor Ike-Muonso stressed that the country’s industrial future would depend not merely on the volume of raw materials extracted but on the capacity to transform them into competitive products that meet domestic and international market requirements.

He maintained that developing local value chains would stimulate industrial growth, create employment opportunities, diversify exports, conserve foreign exchange and deepen Nigeria’s technological capabilities.

Through its strategic interventions, the RMRDC is positioning itself as a critical bridge between resource availability, investment opportunities and industrial competitiveness, with the ultimate objective of transforming Nigeria from a predominantly raw material exporting economy into a strong manufacturing and value-adding nation.

Ike-Muonso has demonstrated this since assumption of office as the Director General/ CEO RMRDC in the area of capacity building, improved working conditions, promotion of merit, and maintaining a conducive environment that rewards excellence, innovation and dedication. This is evident in his institution of RMRDC training school, reward for winners of the RMRDC innovation challenge among others.

His commitment has brought recognition both nationally and internationally: Al-Jazirah double honour awards as Public Servant /Government Agency of the year 2024-2025 and the recent election as the Sub-Saharan Africa Regional Representative on the Board of the World Association of Industrial and Technological Research Organisations (WAITRO) is a attestation to his commitment.

Concluding the lecture, the DG charged staff, researchers, manufacturers and investors to see themselves as nation builders in the new era of raw materials-led industrialization.

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