Former President of Nigeria, Chief Olusegun Obasanjo has appointed an advisor to New World Capital, an equity firm for raising money internationally into Africa.
Obasanjo is currently on a trip to United Kingdom to promote investment in Nigeria and he is expected to facilitate the firm’s entry into Nigeria & other African countries.
Addressing the issue of corruption, he said corruption is an impediment to attracting foreign investors in Nigeria. Obasanjo said that the progress was being made in the fight against corruption, saying “it is not a one
“There is no part of the world where corruption is absolutely eliminated,” he said. “But in other countries, corruption has not been a way of life. When you are found, you are dealt with. And that’s what we need. The givers of most of the corruption in Africa are from outside Africa. They do in Africa things they would not do in their own countries.
In my part of the world, we have a saying that the man who carries a pot of palm oil from the ceiling is not the only thief. He has an accomplice in the man who helps him to bring it down. The giver and the taker are criminals; and they should be treated as such.”
The former president extolled the immense
opportunities in the continent and urged foreign investors to take advantage of the rush. “I still believe in the opportunities that Africa affords to make legitimate money,” he said. “Africa is one place I believe that if you are courageous enough, you can invest and get 25 per cent return on your investment annually. There aren’t many places in the world where you can get that return.”