How do Nigerian governors become so rich while in office

How do Nigerian governors become so rich while in office

Nigerian governors often become exceedingly wealthy during their time in office due to a combination of unchecked power, weak accountability systems, and systemic corruption. Here’s a breakdown of how and why this happens:

1. Control Over State Resources
• Governors in Nigeria function as de facto CEOs of their states.
• They oversee federal allocations, internally generated revenue (IGR), loans, and donor funds—with minimal checks.
• Many manipulate budgets and award inflated or fictitious contracts to cronies or shell companies, then collect kickbacks.

2. Lack of Transparency
• State financial records are often not publicly accessible.
• Budget implementation reports are rarely audited or independently verified.
• State Houses of Assembly—meant to provide oversight—are usually under the governor’s control due to patronage and party loyalty.

3. Security Votes (Unaccounted Cash)
• Governors receive “security votes”—monthly funds running into billions of naira, meant for intelligence and safety operations.
• These funds are not audited, not taxed, and not subject to legislative oversight, making them a prime source of discretionary wealth.

4. Political Patronage and Nepotism
• Many governors appoint friends, family, or loyalists to lucrative positions and contracts.
• These allies funnel money back to the governor directly or through political donations, campaign funds, and hidden investments.

5. Asset Laundering
• Wealth is often hidden via:
• Front companies
• Real estate (local and abroad)
• Foreign bank accounts
• Shares in private companies under aliases or proxies

6. Weak Anti-Corruption Enforcement
• Agencies like EFCC and ICPC are often selective or politicized.
• Many governors enjoy immunity while in office, and post-office prosecutions are rare or slow.
• Even when caught, many secure plea deals with minimal consequences.

7. Post-Governorship Influence
• Ex-governors often become senators, party leaders, or godfathers, maintaining influence and protecting their wealth.
• Some even appoint their successors, ensuring loyalty and continued protection.

Examples of Wealth-Linked Scandals
• Several ex-governors have faced EFCC investigations, including:
• James Ibori (Delta)
• Orji Uzor Kalu (Abia)
• Diepreye Alamieyeseigha (Bayelsa)
• Rochas Okorocha (Imo)

What Can Be Done
• Enforce asset declaration and make it public.
• Empower civil society and investigative journalism to track state finances.
• Strengthen the independence of anti-corruption agencies.
• Implement automated, transparent budgeting systems.