Nigeria’s President Umaru Yar’Adua declared about $5-million in personal assets on Thursday, saying public financial disclosures should be standard practice as his country battles to curb official corruption.
Yar’Adua, who took power on May 29 with a promise to fight graft in one of the world’s most corrupt nations, said he owns several buildings across northern Nigeria, where his family is prominent in business and politics.
While Yar’Adua was compelled by law to declare to authorities his finances — worth about 653-million naira, or about $5-million — he made the declaration public as an inducement to other politicians, his spokesperson said.
”While the Constitution does not currently compel any public official to declare his assets publicly, President Yar’Adua intends to work with the leadership of the National Assembly to see what can be done to make assets declaration an effective weapon in the fight against corruption and abuse of office,” spokesperson Olusegun Adeniyi said.
Nigeria is regularly rated among the world’s most corrupt nations and politicians and government workers are routinely found pilfering from the public coffers.
Yar’Adua’s predecessor, Olusegun Obasanjo, made fighting corruption a stated goal, and Yar’Adua promised to continue the efforts.
The World Bank says at least $300-million in government funds cannot be accounted for over the decades in Africa’s biggest oil producer. — Sapa-AP