NLC attributes factories’ closure to corrupt practices by directors

The Nigeria Labour Congress (NLC), has alleged that boards of directors and management staff of companies have forced many factories to shut down due to corruption. The shutdown of the factories, NLC further said, has thrown innocent factory workers into the labour market with attendant dislocation of homes and families.
   
Chairman, Ogun State Council of NLC, Emmanuel Bankole, who decried that workers have been at the receiving end of a corrupt society, informed of the Council’s resolve to collaborate with anti-corruption agencies in the fight against corruption.To this end, he said the Council has collaborated with anti-corruption agencies to form the NLC Citizens Rights and Anti-Corruption Advocates (CRACA).
   
Among other things, he explained that CRACA will receive petitions from members of the public on matters bothering on human rights abuses or violation, process same and take appropriate action.
    
In his address, Bankole said the programme was organised to show that labour activism was not about strikes only, but an essential and indispensable component of any progressive society.Speaking on the theme: “Corruption as Factor for Nigeria’s Socio Economic Retrogression and Underdevelopment: Time to Act,” Acting Chairman, Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, said over the years and even till date, corruption has been a big threat to the development and growth of Nigeria.
    
He said that corruption, which has eaten too deep into the society, has caused many Nigerians to seek greener pastures elsewhere.Magu said: “Corruption is likened to cancer cell in the medical parlance. The more it grows, the more devastating impact it makes on the carrier. As cancer is deadly to human health, so also is corruption to any human society.
 
“As consequences for our lack of proactive response, we are now burdened by dwindling economy, collapsed infrastructure, ineffective health system, problematic academic system, unemployment, and insecurity, among many other social challenges.”He reasoned that due to failure of the country to stop corruption at the initial stage, Nigeria now struggles to cope with its debilitating pang.
 
He said corruption’s negative impact on the socio-economy and development of the country, has affected the capacity of government to function effectively in her ability to provide enabling environment for the private sector – the driver of the economy.
 
Suggesting a way out, Magu charged Nigerians to help in getting the country back on track.He said: “Years of corruption has, however affected the capacity of government to function effectively in those areas thereby affecting full participation of private sectors in our economic activities.“Many factories have closed down across Nigeria due to lack of access to stable electricity and other infrastructure that are critical to the sustenance of their businesses.”