You can’t win corruption war without sanctions, monitoring, Sanusi tells FG 

Fayemi discloses panel’s report in alleged N852m SUBEB theft
The Emir of Kano, Alhaji Muhammadu Sanusi II, has declared that the war against corruption launched by the Federal Government can be won in six months if there are appropriate sanctions for offenders and monitoring of corrupt cases by the media.

The former Governor of the Central Bank of Nigeria (CBN) spoke yesterday through the Sarkin Shanun Kano, Alhaji Shehu Mohammed, at an
“International Conference on Tax Havens and the Developing World: The Global Dimension” organised by Centre for General Studies in collaboration with office of International Programmes, University of Ibadan (UI).

He identified lack of discipline, lack of sanctions, lack of monitoring and evaluation of corrupt cases as the four major problems aiding high level of corruption in Nigeria and other developing countries in Africa and Asia in general.

The emir, who regretted that most companies and individuals who are supposed to pay taxes in developing countries in Africa and Asia hide under the guise of tax heaven to avoid payment, noted corruption as the biggest problem encouraging tax heaven to thrive.

In another development, former Governor of Ekiti State and Minister of Mines and Steel Development, Dr. Kayode Fayemi, has made available the reports of a five-man panel set up by Governor Ayo Fayose to investigate his alleged withdrawal of N852 million UBEC/SUBEB state counterpart fund.

Fayemi said the first panel in its report dated December 3, 2015 showed that the cash was withdrawn from the account of the State Universal Basic Education Board (SUBEB) by Access Bank, Ado-Ekiti Branch, because “Fayemi administration failed to perfect the loan agreements as it neither agreed to the interest rate nor provide Irrevocable Standing Payment Order (ISPO) for the loan.”

Meanwhile, it was gathered that the bank agreed to grant the Fayemi administration the facility after the June 21, 2014 governorship election but Fayose as the governor-elect warned the bank against granting the facility.

The bank obeyed the governor-elect (Fayose) and the cash was returned to the vault in a bid to ensure a smooth business relationship with him when he takes over as governor in October of the same year.