African leaders’ Role in embezzlement and Capital Flight. Are Europeans/Western nations Pro or Opposing Parties?
One can simply define embezzlement as the use of money placed under one’s care in a wrong way to benefit oneself. Embezzlement is an issue that exists in every nation of the world but of varying degrees and gravity. Its very much reduced or non existent in nations where there is the rule of law. Embezzlement and power usually go together. In fact the two are inextricably intertwined. In a country where embezzlement and corruption is rife, poverty, poor health standards, illiteracy, diseases, misery, crime and death tolls keep the ceiling levels. When a country is corrupt and indeed highly soaked in corrupt waters its future stands nothing short of murky.

The leaders of Africa play vital roles in the proliferation of this jinx of a practice that is putting thousands of families at their knees. Many African leaders who came to power after independence have refused to cede it via democratic elections. These leaders keep misappropriating state funds for personal, selfish and vested interests. With Free Africa Foundation publication at http://www.freeafrica.org/looting.html and of Global Policy Forum, at http://globalpolicy.igc.org/nations/launder/general.htm we can get just an iota of some of the disheartening issues of these illicit practices. Today’s African Heads of states manipulate the constitutions and make changes to gain a permanent hold in power. In fact they want to die ruling. We call them ‘Eternal Presidents’. They have transformed states into kingdoms or royal palaces. In a country like mine the youths are fed up with the same person ruling for more than 2 decades and still courageously want to alter the constitution. But we the youths promise that time will be the solution. African governments (majority) excluding few cases in the likes of South Africa, Ghana, and Liberia of recent appoint ministers that immediately they enter office start swelling their family accounts. We sit and watch. Western powers and institutions have important roles to play. My question here is: are they playing a positive role to stamp out embezzlement and capital flight? Many question marks exist. Swiss banks are renowned for good banking systems in the world (safety, security and all that a good banking entails). Corrupt African leaders of undemocratic regimes salt huge sums of funds into their accounts in Switzerland with no upper limit of remittance and they aren’t being questioned. These funds unavoidably assist the economy of this nation. The moment these leaders experience a shaky position in power the same banks freeze the said accounts. For sure these funds are not returned to the country of origin immediately. Instead ‘we’ pretend to make investigations that never end up fruitfully or quickly enough meanwhile the funds help in economic growth of the western nations. It’s really difficult for an African to transfer a considerable sum of money from Europe or America to Africa in liquid form. He/she is compelled to buy goods worth the value of what he/she has. What an unjust situation. I personally feel that the G8 Powers and western institutions are falling short of expunging or stamping embezzlement and capital flight. It’s high time we need real democracies in Africa. I choose writing on this issue in order to call the attention of our leaders to do something towards breaking embezzlement and capital flight and in helping promoting real democracies. We the African Youths are tired and afraid of hearing of the same names in power till our old ages. Allow the youths to experience their potentials. This topic cannot be exhausted in a single article like this, but it’s just an avenue to call for cogitation on burring issue that needs a solution.
Christian Phuebong Tabifor