Unexplained Wealth: Obasanjo, Osinbajo, Others for Shittu’s Book Launch

Unexplained Wealth: Obasanjo, Osinbajo, Others for Shittu’s Book Launch

Former President Olusegun Obasanjo will chair the public presentation of a three-volume legal work by Senior Advocate of Nigeria (SAN), Dr Wahab Kunle Shittu, focusing on unexplained wealth, asset recovery and anti-corruption enforcement in Nigeria.

The trilogy, titled “Unexplained Wealth in Nigeria,” is scheduled for public presentation on Monday, September 28, 2026, at the Oriental Hotel in Victoria Island, Lagos.

The 54-chapter work examines the legal, institutional and societal dimensions of unexplained wealth while proposing reforms aimed at strengthening accountability and asset recovery and protecting the rights of individuals whose legitimately acquired wealth comes under official scrutiny.

Obasanjo accepted the invitation to chair the event and described the project as relevant to issues of transparency, rule of law and institutional reform.

The first volume, titled “Law, Prosecution and the Recovery of Illicit Assets,” examines the constitutional and international foundations of unexplained wealth enforcement. It also addresses prosecution, asset recovery and the evidential challenges involved in establishing whether wealth was acquired unlawfully.

The second volume, “Sectoral Manifestations, Governance and Reform,” examines the issue across several areas of Nigeria’s economy and public sector, including foreign exchange, capital markets, taxation, healthcare, elections, terrorist financing, public institutions, the power sector and the petroleum industry.

It also considers broader economic and governance issues associated with unexplained wealth, including capital flight, public debt, currency reforms and fuel subsidy removal, as well as the relationship between wealth accumulation, election integrity and public accountability.

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The third volume, “Explained Wealth in the Age of Suspicion: Legal Accountability in Theory and Practice,” shifts attention to people whose assets come under official investigation.

The volume examines how individuals can establish that their wealth was legitimately acquired while balancing anti-corruption enforcement, constitutional rights, economic freedom and due process.

One of the major proposals in the trilogy is a Three-Tier Test for Explained Wealth, based on the lawful source of wealth, documentary coherence and proportionality.

The work also proposes an Anti-Weaponisation Framework, which is intended to address concerns about the possible misuse of anti-corruption mechanisms against individuals.

According to details of the publication, the author argues for a balance between effective enforcement against illicit wealth and protection for citizens whose assets were lawfully acquired.

The trilogy contains proposed legislative interventions, including a draft Nigeria Antigraft Commission (Establishment) Bill, a draft law on Unexplained Wealth Orders and an executive summary proposing a Presidential Committee on Lifestyle Audit.

Shittu’s work on the subject was partly informed by his professional engagements with Nigeria’s anti-corruption institutions.

He delivered a paper on the prosecution of unexplained wealth at an Economic and Financial Crimes Commission (EFCC)/National Judicial Institute capacity-building workshop for judges in 2023.

He subsequently presented another paper on asset seizure and forfeiture under Nigeria’s anti-corruption laws at an Independent Corrupt Practices and Other Related Offences Commission (ICPC) workshop for judges.

Shittu said the trilogy developed from those professional engagements, combined with further research and his experience in financial crime litigation. (NPO Reports)

The September 28 event is expected to bring together personalities from Nigeria’s legal, political, academic and traditional institutions.

Former Vice-President Yemi Osinbajo is scheduled to deliver the reflective remarks, while Professor Olanrewaju Fagbohun, former Vice-Chancellor of Lagos State University and SAN, is billed as the book reviewer.

The Olofa of Offa, Oba Mufutau Gbadamosi Esuwoye II, is listed as the Royal Father of the Day, while Channels Television presenters Seun Okinbaloye and Shola Soleye are expected to anchor the event.

The presentation comes at a time of renewed public discussion about corruption, illicit wealth, asset recovery and accountability in Nigeria.

Recent investigations have also continued to draw attention to the movement of wealth allegedly linked to politically exposed persons into foreign assets. A September 2026 investigation by the Platform to Protect Whistleblowers in Africa and the Anti-Corruption Data Collective, for instance, identified 284 United States properties valued at nearly $271 million as linked to 61 current and former Nigerian politically exposed persons, their relatives, associates and affiliated entities. The report said its findings were not a verdict of wrongdoing against the individuals identified.

Against this background, Shittu’s trilogy is positioned as a legal and policy contribution to the debate over how Nigeria can strengthen financial crime enforcement and asset recovery while preserving due process and property rights.

The September 28 presentation is therefore expected to provide a forum for legal practitioners, policymakers, judges, academics and anti-corruption stakeholders to examine the proposals contained in the three-volume work.

Unexplained Wealth: Obasanjo, Osinbajo, Others for Shittu’s Book Launch