{
  "id": 10567028,
  "title": "Obasanjo: Corruption, illicit wealth hinder development",
  "url": "https://urgent.news/2026/09/29/obasanjo-corruption-illicit-wealth-hinder-development",
  "topic": "world",
  "section": "World",
  "published": "2026-09-29T00:30:53.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/obasanjo-corruption-illicit-wealth-hinder-development/"
  },
  "original_language": "en",
  "account": "Former President Olusegun Obasanjo has highlighted the detrimental impact of corruption and illicit wealth on societal development during the public presentation of a trilogy of Nigerian financial law authored by Senior Advocate of Nigeria, Dr Wahab Shittu. Obasanjo, who has long been involved in the fight against corruption, stated that corruption and development cannot coexist, as corruption is antithetical to progress, social cohesion, and economic advancement. He recounted his long-standing commitment to combating corruption, which began during his military career when he served as a prosecutor under military law and presided over a court-martial involving corruption allegations. Obasanjo's involvement in fighting corruption deepened after he left office, when he was approached by Peter Eigen, a former World Bank official and founder of Transparency International. Eigen sought Obasanjo's expertise, and together they established Transparency International, with Obasanjo serving as its chairman. When they approached former US Secretary of Defence and World Bank President Bob McNamara for support, McNamara initially doubted their mission but later promised moral and financial backing if they could demonstrate results. Obasanjo and Eigen travelled internationally to garner support for Transparency International, eventually persuading the Organisation for Economic Co-operation and Development to cease allowing tax deductions for bribes. The book launch also highlighted Obasanjo's administration's establishment of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which drew from a model anti-corruption law provided by Transparency International. Despite initial resistance from lawmakers fearful of its consequences, the ICPC legislation was eventually passed. Obasanjo commended Nuhu Ribadu, a \"corruption fighter\" and former chairman of the EFCC, for his role in strengthening Nigeria's fight against corruption. He emphasized that while no country has completely eradicated corruption, efforts to prevent its growth are crucial. Obasanjo urged Nigeria and other African nations to bolster their anti-corruption measures, asserting that corruption remains a significant obstacle to national development and disproportionately affects the poor.",
  "summary": "Former President Olusegun Obasanjo says corruption and illicit wealth are inimical to development, stressing that the poor suffer most in corrupt societies Read More: https://punchng.com/obasanjo-corruption-illicit-wealth-hinder-development/",
  "key_points": [
    "Corruption hinders development, Obasanjo asserts",
    "Former President combats corruption since military career",
    "ICPC established during Obasanjo's administration"
  ],
  "editors_take": "Obasanjo's renewed call to combat corruption underscores its enduring hindrance to Nigeria's development, highlighting the need for strengthened anti-corruption measures to mitigate its disproportionate impact on the poor.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "Obasanjo: Corruption, illicit wealth hinder development",
        "url": "https://urgent.news/2026/09/29/obasanjo-corruption-illicit-wealth-hinder-development-10569562",
        "published": "2026-09-29T00:44:53.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}