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Africans must resist theft of $50bn worth of its water resources by foreigners- Obasanjo

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Former President Olusegun Obasanjo has urged African leaders and followers to make determined effort towards halting the illicit transfer of the continent’s $50 billion worth of water resources to foreign lands annually.

Obasanjo stated this in Abeokuta while speaking at a cocktail heralding the First Annual Nigeria Anti-Fraud Conference organised by the Association of Certified Fraud Examiners, Lagos, Nigeria Chapter.

He observed that the increasing smuggling of fish and other water resources out of the continent amounted to “economic sabotage” with significant economic losses.

The former president said the unfortunate occurrence had become regular on African waterways, and called on other African leaders, past and present, to support the fight towards curbing the trend.

He added that African countries would continue to experience stunted growth if leaders and followers refused to put an end to the smuggling of water resources and fisheries to foreign lands.

Read also: Ogun gets Senate’s nod to go for $350m World Bank loan

The former president, who was named the Grand Patron of ACFE, Nigeria chapter, based on his fight against fraud and corruption in Nigeria, tasked the financial professionals and all members of the association to help curb fraud and corruption in Nigeria and Africa as a whole.

He said, “$50bn annually worth of fish and other water resources are illicitly taken away from Africa.

“This is a major concern to African leaders, past and present. We are now trying and putting up efforts to ensure that we prevent it.

“Organisation like yours can also help us and Africa to fight corruption and fraud in Nigeria and Africa as a whole.”

Earlier, President and Chief Executive Officer, ACFE, Godwin Oyedokun, commended the former president for accepting to grace the event, adding that it showed his love for the country.

He said, “First, ACFE, Lagos Nigeria Chapter recognises your role in sanitising the Nigerian system before, during and even after you have left government.

“Second, we want to honour you as our Grand Patron, the one we could always run to for advice, guidance and mentorship.”

 

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