SHITTU CALLS FOR STRONGER ACTION AGAINST UNEXPLAINED WEALTH

Senior Advocate of Nigeria, Wahab Shittu, has called for stronger measures to tackle unexplained and illicit wealth, saying the problem is hindering Nigeria’s development.

Shittu spoke on Monday at the public presentation of his three-volume book, Unexplained Wealth: A Trilogy of Nigerian Financial Law, held in Lagos.

He said Nigeria had abundant human and natural resources but could make greater progress if mechanisms were strengthened to identify and recover wealth acquired through unlawful means.

Shittu, who lectures at the University of Lagos, said his research showed that Nigeria lacked a specific legislative framework on unexplained wealth similar to those in some other countries.

He said the book was intended to provide guidance for anti-corruption agencies, prosecutors, judges and members of the public on dealing with cases involving questionable wealth.

The legal practitioner, however, cautioned against automatically treating wealth without conventional documentation as evidence of criminality.

He stressed that becoming wealthy was not an offence, but that wealth acquired through illicit means should be subject to legal scrutiny.

Former President Olusegun Obasanjo, who chaired the event, also called for stronger laws and institutions to combat corruption, saying corruption and development could not coexist.

The Emir of Kano, Muhammadu Sanusi II, and other speakers similarly called for reforms that would ensure anti-corruption laws are applied fairly while protecting legitimately acquired property.