Without subscribing to excessive philosophical thought, how does one define the word 'corruption?' Are we, as humans, pre-programmed before birth to know the difference between right and wrong, or do we rely on society and its set norms and values to tell us what is okay and what isn't. What exactly makes a particular act moral and another immoral? Is morality an absolute that is independent of place and time, or is it relative to the condition in which one finds him(her)self? And could there ever be universally acceptable values?

Whatever the answers to these questions may be, one thing is certain—when it comes to finding the meaning of the word 'corruption,' one need not go as far as the law books. Corruption, at least in the modern world, appears to have a universally agreed definition—one that is just as valid in Tokyo as it is in Nairobi.

On the 17th of November 2004, the incumbent Nigerian president, Olusegun Obasanjo, welcomed the creation of the Transnational Corporation of Nigeria, also known as TransCorp. The brainchild of Mr. Obasanjo's government and a bunch of well-to-do Nigerian industrialists, technocrats, entrepreneurs and business managers, TransCorp was meant to be Nigeria's equivalent of South Korea's Chaebol. That is, a business conglomerate involved in agriculture, the oil and gas industry, manufacturing, power generation, telecommunications and the creation of a free trade area. TransCorp was formally launched in July 2005.

The idea seemed noble and grand. A wholly private sector managed entity, the Nigerian government was not expected to spend a penny on it. Thus, TransCorp's first port of call was the Nigerian Stock Exchange to raise capital. Not long after that—in October 2005 to be precise—TransCorp bought a 51% stake in the flashy Nicon Hilton hotel (now known as TransCorp Hiltion), situated in the Nigerian capital city of Abuja, for 13 billion Naira ($100 million). This was followed by a $750 million purchase of the state-owned and uncompetitive Nigerian Telecommunications Limited (NITEL) in July 2006.

On the surface, it all looked good—a Nigerian conglomerate buying up juicy Nigerian enterprises—that is, until a revelation was made that the Nigerian president happened to be a key shareholder in TransCorp. It was reported that he acquired shares through a so-called 'blind trust' (whatever that means) known as Obasanjo Holdings Limited. Going by mainstream media reports, no one really knows how much shares Mr. Obasanjo acquired in TransCorp but estimates ranged from between 200 million and 600 million. Mr. Obasanjo never denied owning shares in TransCorp and there were indications that when the revelation became public, he ordered a divestment of his shares.

Olusegun Obasanjo claims to be fighting a war against corruption in Nigeria. One is however left wondering if he saw nothing immoral or wrong about a sitting president, and a public officer, buying a significant number of shares in a conglomerate that in turn had been busy buying up publicly traded companies. By acquiring millions of shares in TransCorp, Obasanjo seemed to be telling the very people he governs that he finds it quite difficult to discern what constitutes a corrupt practice. Furthermore, according to renowned Nigerian lawyer, Gani Fawehinmi, Obasanjo violated the "Code of Conduct for Public Officers" as stipulated in the Nigerian constitution. Such a man is simply not fit to lead a war on corruption.

To make matters worse, the sanctimonious Mr. Obasanjo recently laid charges against his deputy, Atiku Abubakar, on the floor of the bi-cameral Nigerian legislature. He requested that Abubakar be impeached for corrupt practices. Abubakar hit back hard, opening what may be called 'a can of worms' by bringing forward evidence of corrupt practices against Obasanjo.

The upper house of the Nigerian legislature—the Senate—finally decided to probe both Olusegun Obasanjo and Atiku Abubakar for corrupt practices with regard to funds allocated for petroleum technology development. Should both men be found guilty (which would most likely be the case) they should both be impeached. Anything short of that would be a waste of time, a waste of public funds, an insult to people who work hard day and night in Nigeria in order to make a living, and a sanctioning of the presence of miscreants in what ought to be respectable political offices in Nigeria.

Labels: Corruption, Nigeria