The assets and investments of the 16th and current president of Nigeria, Bola Tinubu, remain unknown. Since Nigeria's return to democracy in 1999, only two presidents—Umaru Musa Yar’Adua and Muhammadu Buhari—have publicly declared their assets. This lack of transparency raises serious questions about the financial integrity of public officials, especially in a nation where corruption has been a persistent issue.
Stakeholders, including civil society organizations (CSOs), have expressed concern over President Tinubu's apparent refusal to disclose his net worth, suggesting it is a moral burden for him to do so. The Code of Conduct Bureau (CCB), which is responsible for overseeing asset declarations, has remained silent on this matter, leading to speculation and mistrust among the populace.
In contrast, previous presidents, such as Yar’Adua, provided detailed accounts of their assets. Yar’Adua declared assets valued at over N856 million, while Buhari disclosed a much more modest portfolio in 2015, including less than N30 million in bank accounts and some properties. The expectation is that President Tinubu should follow suit, especially given the constitutional mandate that requires all public officers to declare their assets upon taking office.
Background on Asset Declaration in Nigeria
The obligation for public officials to declare their assets is enshrined in the Nigerian Constitution, specifically in the Code of Conduct for Public Officers. This law mandates that every public officer must declare their properties, assets, and liabilities to promote transparency and accountability in governance. However, the implementation of this law has often been inconsistent, leading to skepticism about the actual wealth of elected officials.
Since the advent of democracy in Nigeria, there has been a notable disparity in compliance with asset declaration laws among presidents. While Yar’Adua and Buhari made their declarations public, others, like Olusegun Obasanjo and Goodluck Jonathan, have been criticized for neglecting this duty. This raises critical questions about the effectiveness of the CCB and its role in enforcing compliance among high-ranking officials.
As the current president, Bola Tinubu's decision not to declare his assets could potentially undermine public trust in his administration. The need for transparency is more pressing than ever, given the historical context of corruption and mismanagement within Nigerian politics.
The Call for Transparency
The silence surrounding President Tinubu's asset declaration has sparked calls for greater accountability from citizens and advocacy groups alike. The inability to access information through the Freedom of Information (FoI) Act regarding his financial records has further fueled public discontent. Advocates argue that without full disclosure, it is impossible to ascertain the legitimacy of the president’s wealth, which has been rumored to be over $4 billion.
This situation has led to a broader discussion about the need for reforms within the CCB and the entire asset declaration process. Many believe that strengthening these mechanisms could enhance transparency and deter corrupt practices among public officials. As citizens demand answers, the pressure mounts for President Tinubu to clarify his financial standing.
Ultimately, the expectation is clear: for democracy to thrive in Nigeria, public officials must hold themselves accountable to the people. Transparency in asset declarations is a fundamental part of this accountability, and without it, trust in government will continue to erode.
Conclusion: The Importance of Asset Declaration
The discussion surrounding President Bola Tinubu's undisclosed assets highlights a crucial aspect of governance in Nigeria: the need for transparency and accountability. As Nigeria grapples with the challenges of corruption and public trust, the call for asset declaration becomes even more significant. Citizens deserve to know the financial standings of their leaders to ensure that they are being served by honest and accountable individuals.
By adhering to the constitutional requirement of asset declaration, President Tinubu has the opportunity to set a precedent for future leaders. This act of transparency not only strengthens the foundations of democracy but also fosters a culture of trust between the government and the governed. As we move forward, it is imperative that public officials recognize the moral imperative of declaring their assets and the impact it has on the democratic process.
In the end, the hope is that Bola Tinubu will embrace the principles of transparency and accountability, paving the way for a more trustworthy and effective government in Nigeria.
