The Civil Society Legislative Advocacy Centre, a human rights organization, criticized the President, Major General Muhammadu Buhari (retd.), on Monday for his silence on the Pandora Papers controversy, calling it “worrying.”
VAM News had earlier reported that the Pandora Papers investigation involved a cross-border investigative journalism report on alleged corrupt practices by world leaders.
The influential citizens were accused of flouting extant laws and legislations as they hid assets.
Rafsanjani said the report led credence to the continuing weaknesses in the Nigerian financial systems and regulatory deficiencies which he said have been at the root of the annual loss of $18 billion to illicit financial flows out of Nigeria.
He said all eyes were on the government to take appropriate action, adding that the President must ensure that the exposures do not go the way of the previous leaks – Paradise and Panama Papers, which were released in 2017 and 2016, respectively.
He said unlike other countries, the Nigerian government had neither instituted investigations nor shown any willingness to dismiss public officers and political exposed persons exposed in the reports.
Rafsanjani said, “We all know that if government has been taking necessary steps we won’t be loosing this huge amount of money but because the system is so loose and no effort has been put in place to block these leakages, we will continue to loose such amount of money.
“There seems to be lack of understanding of what corruption is in this government. These revelations have attracted global attention and had made countries like United States, Canada took decisive actions against their nationals who were involved in the scandal but ours here were being awarded with government positions.
“The Pandora papers release is coming when Nigeria is reeling under the deleterious impact of the COVID-19 and the debt pileup that has continued to stoke serious concerns across political divides and among Nigerians and its development partners.
“Therefore, it is a meaningful opportunity for the Buhari administration to act decisively against corruption, aggressive tax planning, and other financial practices of politically exposed persons and their advisors and companies that threaten our country’s economic stability and corporate existence.”