By Bukar Mohammed
In recent weeks, an idea long considered taboo within the corridors of anti-graft agencies and international development institutions has reemerged in public discourse: corruption amnesty. While it may sound like a betrayal of the fight against corruption, historical precedents and practical realities suggest otherwise. Nations like Morocco, Indonesia, and India have utilized corruption amnesty programs to recover stolen wealth, reintegrate economic actors into the formal economy, and stimulate national development. For Nigeria—a country whose economic lifeblood is often drained by illicit financial flows, weak institutions, and elite impunity—this radical policy might be the much-needed turning point.
As the administration of President Bola Ahmed Tinubu continues to grapple with a revenue crisis, massive infrastructure deficits, and a trust gap between government and the people, a carefully structured and conditional corruption amnesty could unlock trapped wealth, heal political wounds, and spark a new era of accountability and national rebuilding. However, there is a powerful force likely to stand in opposition to such a policy—the West—who, paradoxically, pose as global enforcers of transparency, yet benefit immensely from Nigeria’s corruption and capital flight.
Understanding Corruption Amnesty
Corruption amnesty refers to a government-sanctioned program that allows individuals who have acquired wealth through illicit means—particularly public funds—to voluntarily declare, return, and repatriate such wealth without facing prosecution on the condition that the funds are invested in national development or formally reintegrated into the economy. The idea is not to exonerate wrongdoing but to prioritize recovery and reinvestment over prolonged legal battles.
This model has worked in countries like Morocco, where economic amnesty for tax defaulters and illicit wealth holders brought billions back into circulation, especially from foreign accounts. According to Morocco’s Ministry of Finance, the 2020 special amnesty yielded over $800 million in voluntary disclosures and repatriation of funds—money that otherwise would have remained parked abroad.
Why Nigeria Needs This Now
Nigeria’s corruption problem is systemic. From oil theft to inflated contracts, tax evasion, and ghost workers, the country loses tens of billions of dollars annually to financial crime. The traditional approach of prosecution, although morally correct, has often been politicized, delayed, or outright ineffective. Many trials last for decades without recovery, and often, suspects die before judgment is ever served.
With a severe foreign exchange crisis, an ever-growing debt profile (over ₦147 trillion, according to Reuben Abati, in just 20 months), rising inflation, and a youth population desperate for jobs and hope, Nigeria cannot afford to wait decades to win every legal battle. It needs liquidity, infrastructure, and investor confidence now.
A structured corruption amnesty initiative, combined with solid legal and financial safeguards, could immediately bring back trillions of naira trapped in offshore accounts and abandoned assets. These funds could then be channeled into housing, roads, healthcare, renewable energy, and agriculture—creating jobs and stimulating the economy.
The Moroccan Inspiration
In 2014, Morocco launched a tax amnesty for citizens with undeclared foreign assets. In exchange for disclosing these assets and paying a modest fine, individuals were shielded from prosecution. The government recovered millions of dollars in taxes, improved transparency, and deepened trust between the state and the private sector.
This policy was repeated in 2020 and again showed results. The money returned home did not only strengthen Morocco’s financial system but also allowed for strategic investment in renewable energy, tourism, and agro-processing, turning the North African nation into a regional economic hub.
Nigeria can replicate this with an even better impact. The volume of looted funds hidden abroad by Nigerian politically exposed persons (PEPs) is estimated by the UN to be over $100 billion. Imagine recovering just 20% of that.
Why the West Will Resist
The Western world will almost certainly resist this policy. Why?
Because they are the biggest beneficiaries of African corruption.
London, New York, Geneva, Dubai, and Paris are not only havens of culture and commerce; they are also safe havens for looted African wealth. Real estate agents, law firms, shell companies, and banks in the West profit immensely from capital flight. According to a Global Financial Integrity report, over 80% of illicit African funds end up in Western jurisdictions.
They impose compliance burdens on African banks but protect anonymity for shell companies operating in Delaware, the Cayman Islands, or the City of London. When Nigeria demands the return of stolen funds, we are told to wait for “due process”—a process that takes years, involves complex litigation, and ends up repatriating only a fraction of the loot.
Thus, a Nigerian-led corruption amnesty initiative that allows direct return and reinvestment—bypassing Western gatekeeping—is a threat to their profiteering. They fear losing leverage, control, and economic benefit.
But Nigeria must prioritize its own sovereign interest.
How Tinubu Can Write His Name in Gold
President Bola Ahmed Tinubu stands at a crossroads. He can continue on the familiar path of legalism and public relations, or he can embrace pragmatic nationalism. A bold and patriotic corruption amnesty policy anchored on transparency, legality, and strategic development could become his legacy project.
This is not about forgiving criminals; it is about recovering what can be recovered, ending a cycle of denial, and rebuilding from the ashes. It is about breaking the elite pact of silence and giving looters a chance to choose national redemption over disgrace.
The policy must come with clear conditions:
-
Voluntary disclosure of assets;
-
Payment of a defined percentage to a public development fund;
-
Mandatory investment of part of the funds in public-private partnerships (PPPs);
-
Public declaration and naming of all beneficiaries;
-
Permanent barring of beneficiaries from holding public office again.
If well executed, President Tinubu will be remembered not just as a politician but as a statesman—the man who rescued Nigeria from the brink by doing the unthinkable.
A Call for Courage
We must acknowledge the paradox—we hate corruption, yet we have built a system that protects it. We want justice, yet the wheels of justice are too slow for the urgency of today’s challenges. A corruption amnesty is not a magic wand, but it can be a bridge from decay to development.
The West may resist. Critics may scream betrayal. But history will remember the one who had the courage to prioritize the nation over applause.
It is time for Nigeria to reclaim her wealth, rebuild her institutions, and restore her dignity. And if President Tinubu can summon the political will, he may write his name in gold and rise as the leader who brought Nigeria back from the brink.
Bukar Mohammed is a policy analyst and public affairs commentator with expertise in governance, development finance, and the African political economy. He writes from Kano.
Share your story or advertise with us: Whatsapp: +2347068606071 Email: info@newspotng.com
