Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria (CBN), has expressed deep concern over the disintegration of Nigeria’s independent institutions, which he claims have been utterly destroyed.
Moghalu pointed to the collapse of the judiciary and the misplaced priorities of the Economic and Financial Crimes Commission (EFCC), which he criticized for pursuing minor offenders such as internet fraudsters (popularly known as ‘yahoo boys’) while neglecting the mega-corrupt politicians and high-ranking officials who continue to evade justice.
Highlighting the entrenched corruption in Nigeria, Moghalu stated that it has become ingrained in daily life, unchecked by the rule of law. He lamented that accountability has vanished due to a lack of political will, and that laws are rendered powerless in a system where certain individuals are seen as untouchable.
Taking to his X account on Monday, Moghalu compared Nigeria to countries like the United States, Israel, and South Korea, where high-ranking leaders have faced legal repercussions for corruption. He contrasted these examples with Nigeria’s impunity, noting that even in some African countries like Rwanda, there is zero tolerance for corruption, while Nigeria remains stagnant.
Moghalu also criticized the Nigerian police for being more focused on protecting the regime rather than investigating the political elite responsible for looting the country’s wealth. He questioned the effectiveness of key institutions like the National Assembly and the Independent National Electoral Commission (INEC), which he claims have failed to uphold accountability.
“The judiciary is gone. The National Assembly, well, what to say? EFCC runs after Yahoo boys and other inconsequential petty criminals. The Police Force is too busy with regime protection to investigate the mega-corrupt politicians and functionaries,” he wrote.
Moghalu emphasized that real change can only come from the citizens themselves, who must stand up en masse to demand a cleaner and more accountable country. However, he recognized the immense challenge posed by widespread poverty and illiteracy, which often leave citizens vulnerable to manipulation by corrupt politicians.
As part of the solution, Moghalu called for a massive re-education of Nigerian society to rebuild a culture rooted in strong values and ethical standards. Reflecting on his 2019 presidential campaign, he reiterated his proposal to make ethics a compulsory part of the curriculum in both primary and secondary schools, laying the foundation for a future free of corruption.
