Osinbajo said that what shocked him most was what he described as “grand corruption.”
The Vice President spoke on Corruption and Rule of Law at the ongoing 24th Nigerian Economic Summit in Abuja yesterday.
Osinbajo had earlier lamented that whenever he tried dismissing corrupt public officer holders, some religious leaders would always intervene.
“I think, frankly, the biggest surprise for me has been the sheer impact of corruption on development,” he said.
“Whereas what we were more familiar with was corruption in the public procurement process and the like, but what is rare and damaging is directly going to the very source of revenue and taking public resource for private.”
Osinbajo further explained that the President Muhammadu Buhari-led government had made some significant impact in this area by “holding persons who made away with public funds accountable, taking them to court, seizing their assets both locally and internationally and transferring back to the country proceeds of corruption.”
He lamented that, “Trying to get money from foreign governments or from foreign banks is an obstacle for us. It is laden with all manner of difficulties and it is obvious that there is no enthusiasm about returning money that is already in their custody. It is very, very difficult.”
