On the subject of government money in Nigeria

Nigeria’s leader on Tuesday ordered the arrest of the former president’s national security adviser for allegedly stealing more than $2 billion (£1.3bn) meant to buy weapons for the military to fight Islamic militant Boko Haram rebels.

Generally it seems to belong to the members of the government, not the government itself.

It accuses Sambo Dasuki, a key adviser to former President Goodluck Jonathan, of awarding “phantom contracts” to buy 12 helicopters, four fighter jets, and bombs and ammunition worth $2 billion that never were supplied.

Mr Dasuki also got the Central Bank to transfer $142.6 million to a company with accounts in the United States, the United Kingdom and in West Africa for unknown purposes and without contracts, according to the statement.

They seem not quite to have got Mancur Olson’s message, that now they’re stationary bandits (to the extent that they are, what with coups and short term careers etc) they should be farming the population, not raiding it.

And just for Arnald: no, I don’t think that insisting that Lady Green paying tax on her dividends in the UK is the way to stop this happening.

8 thoughts on “On the subject of government money in Nigeria”

  1. I was going to point this out to Arnald the other day: getting corporations to pay taxes will do nothing to stop a Nigerian government minister simply emptying the state bank account and transferring the funds to one of his own. Hanging managers in Barclay’s might, but if that was allowed they’d have to get in line behind me.

  2. So Much For Subtlety

    Sambo Dasuki

    No! He didn’t! Did he?

    This is obviously a coincidence. I keep getting attacked around here for pointing out that culture matters. So it cannot reflect any deeper problem with Nigeria. They are just like us! But more tropical. With a liking for yams.

  3. “And just for Arnald: no, I don’t think that insisting that Lady Green paying tax on her dividends in the UK is the way to stop this happening”

    Can’t see the connection myself, Tim. The authorities know about Mrs Green, the rest of the situation is a test of the laws.

    Creating false deals in Nigeria for that amount of cash is something else entirely.

    I’m not quite sure why you would think otherwise.

    It’s a good example of what happens, though.

    Incidentally, a very similar case of arms trading in Kenya was uncovered in one of the private banks I worked in by someone who’d only been there a few months. Incredibly the trust had been in place for many years. Of course the relevant paperwork had been created by a ‘trusted introducer’.

  4. “The authorities know about Mrs Green, the rest of the situation is a test of the laws.”

    The law says she doesn’t owe UKGOV the tax you stupid bastard. That’s the thing with laws: they are supposed to treat everyone fairly; not just those people you like. Jesus, I even want the law to treat you fairly.

  5. Ironman, calm down FFS.

    Worstall attempted to compare embezzlement and fraud with Mr and Mrs Green’s tax statuses. Whereas the funds extracted by Mr Dasuki followed the hide-me channels, the Greens didn’t need to hide because “the authorities know” what’s going on and any claim otherwise to “test the laws” would only be that. History proves on their side.

    I’m just a step ahead of you there, I figured The Greens thing didn’t need explaining because it’s already been and gone, and Worstall is just being an idiot because he can.

  6. Arnald

    “…because “the authorities know” what’s going on and any claim otherwise to “test the laws” would only be that.”

    That’s a very.sweet try, bless you. It doesn’t make the slightest bit of sense.tjough.

  7. Ron

    “That’s a very.sweet try, bless you. It doesn’t make the slightest bit of sense.tjough”

    aw. Thanks. Always good to be praised by my betters.

Leave a Reply

Your email address will not be published. Required fields are marked *