Since Bola Tinubu assumed the presidency in May 2023, his administration has been marked by frequent appointments and dismissals, signaling his firm grip on power and the immense patronage he wields. However, his most controversial decisions have not been without their challenges, particularly his battle against corruption—a war he has waged with fervor.
In less than two years in office, Tinubu has dismissed more individuals on corruption charges than his predecessor, Muhammadu Buhari, did during his eight-year term. While Tinubu’s anti-graft rhetoric is sharp and unwavering, he faces a significant credibility challenge—one that many Nigerians and the international community have raised concerns about.
Tinubu is Nigeria’s first president to come into office with an undeniably vast fortune, but the origins of his wealth remain a mystery. In 2024, the Financial Times questioned the opaqueness of his financial standing, stating, “It does not help that Tinubu’s vast wealth is not easy to decipher.” Similarly, the Organized Crime and Corruption Reporting Project (OCCRP) named him as a runner-up for their 2024 “Person of the Year in Organized Crime and Corruption.”
Although these allegations may be unfounded, the perception of corruption surrounding Tinubu remains damaging to his reputation. To address these concerns, many are calling for greater transparency, including the Socio-Economic Rights and Accountability Project (SERAP), which has urged him to publicly release his asset declaration. This echoes the precedents set by previous Nigerian leaders, including President Goodluck Jonathan, who famously refused to disclose his assets in 2012, and President Buhari, who reluctantly did so in 2015.
Tinubu, who has publicly boasted about his wealth, has yet to take decisive action. In December 2024, he suggested he would “consider” releasing his asset declaration—a statement that lacks the boldness needed to instill trust. Given his track record of wealth accumulation, Nigerians deserve clarity on the source of his fortune, particularly after he claimed to have funded his own presidential campaign in 2024, saying, “I have no cabal. I have no sponsor. The money I spent on the election was my personal fortune.”
Such statements raise legitimate concerns about the nature of Nigerian democracy, with the insinuation that one man’s wealth could essentially “buy” the presidency. Tinubu himself has dismissed allegations of corruption, with his Minister for Youth Development, Ayodele Olawande, asserting that the president is “too rich to loot Nigeria’s treasury.” However, this rhetoric does little to address the pressing question: Why should a president so wealthy still rely on state resources to fund his extravagant lifestyle, including frequent state-sponsored foreign trips?
The need for transparency in asset declarations has never been more critical. Nigeria’s asset declaration system has been criticized for its lack of public access and transparency. International bodies like the OECD and the IMF have called for stronger measures to combat corruption through greater disclosure. However, state institutions, including the judiciary, continue to resist efforts to make these declarations public, as seen in a 2024 Court of Appeal ruling preventing the release of asset declarations for former Presidents Jonathan and Buhari.
If Tinubu is truly committed to fighting corruption “head on,” as he has promised, he must lead by example. Publicly declaring his assets would be a powerful demonstration of his commitment to transparency and integrity. Without such action, his efforts to tackle corruption will remain little more than rhetoric—an empty promise to a nation yearning for accountability.
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