During his tenure as Nigeria's Finance Minister, Kemi Adeosun oversaw the recovery of over N554.047 billion through key fiscal transparency initiatives, including the Whistleblower Policy, the Treasury Single Account (TSA) and the Bank Verification Number (BVN) policy, reforms widely considered to have redefined Nigeria's economic governance framework.
In this report, Adeosun reflects on his personal difficulties in public office, how he was ultimately vindicated by the courts, and his enduring commitment to social impact, philanthropy and nation building beyond government service.
During his tenure as Minister of Finance, who served under President Muhammadu Buhari from 2015 to 2018, Kemi Adesun implemented a number of far-reaching financial and institutional reforms aimed at strengthening transparency, efficiency and accountability in public finances.
One of the most notable was the introduction of the whistle-blower policy, which became a powerful tool in the fight against corruption.
Through the policy, the Federal Government recovered N554.047 billion, while an additional N13.8 billion was recovered from companies involved in tax evasion. The initiative rewarded citizens who provided credible information on financial crimes and helped expose rampant corruption.
Adeosun also established the Efficiency Unit, designed to reduce waste and improve value for money in government spending.
Through strict controls and better management practices, including reduction in expenditure on stationery and consumables, the unit recorded significant savings. In 2016 alone, N34 billion was saved on office stationery and computer consumables compared to the previous year.
He further strengthened the Treasury Single Account (TSA) policy, which helped uncover and eliminate ghost workers, a reform he had earlier implemented during his tenure as Finance Commissioner in Ogun State.
Under his leadership, sustained enforcement of the Bank Verification Number (BVN) policy was also ensured, while the Nigeria Customs Service adopted software solutions to enhance operational efficiency.
Adeosun also saw improvements in transparency in payment systems, procurement processes and government asset management during his time in office.
Harmonization of insurance processes for government assets and liabilities across Ministries, Departments and Agencies (MDAs) given priority. Additionally, green bond and sukuk bond initiatives were launched under his watch, leveraging his experience in capital markets to support sustainable development and infrastructure financing.
Speaking on tax reform recently, Adeosun stressed that Nigerians must embrace tax compliance if the country is to achieve prosperity.
He said taxes were one of the problems he tried to tackle during his tenure with the VAID program, which allowed amnesty for tax evaders.
“I was excited when I saw steps to harmonize data,” she said. “We have TINs, NINs, BVNs—a lot of numbers. Once you harmonize the data, it becomes very difficult to hide.”
According to him, integrated data systems, coupled with technology, make it easier to identify those who benefit from public resources without meeting their tax obligations. “Once you have the data, and with AI, you can very quickly see who is not playing the game fairly,” she said.
Commenting on the broader management of Nigeria's economy, he acknowledged its complexity, stressing that macroeconomic indicators alone are not enough if ordinary citizens do not feel tangible relief.
He said, “Managing the economy is not football, where you get a result in 90 minutes; there is a lag that is never simple, and Nigeria's situation is particularly complex. At the macro level, we have seen indicators that give reason for some optimism.”
Reflecting on the controversy that followed his tenure, Adeosun said, 'Powerful interests wanted me out, they said 'no' is part of the job, so naturally, you make enemies.'' He was acquitted of all NYSC certificate charges by a court of competent jurisdiction.
He said his professional body, the Institute of Chartered Accountants in England and Wales (ICAEW), had also investigated the matter and fully vindicated him.
“I'm human. So yes, I know I could have stayed. I still have a draft of a statement I was asked to release by 'one of the lead actors', sent from his personal e-mail. I remember reading it, knowing I couldn't release it in good conscience, because it was factually incorrect and I would be held accountable.
“I knew in my heart that my tenure was over, not because I had no way forward, but because my principles would not allow me to take it. However, now and then, I think about the what-ifs. It was a difficult path.”
He explained that his resignation was part of his determination to completely clear his name.
“When I resigned, I already knew I was going to court. I had to clear my name. Not just for me, but for tomorrow. I want to sit down with my grandchildren someday, when I'm old and gray, and if they ask me, 'Is it true?', I want to look them in the eye and say, 'Never.' And I have more than just my words to prove it.
“If I had stayed, I would not have had a court decision making it clear that I had no reason to do what I was accused of doing. But now I do.
Inconsistency in being in court and representing Nigeria at the highest level.
He also recalled the goodwill he received during that difficult period.
“What impressed me most was the goodwill I received during that period. For example, Chief Olanipekun said, 'I will represent you.' Femi Falana offered support. The Governor arrived. People in ministries. Even the late President, who always called me Macudi, always asked how I was dealing with it. That Christmas, he sent me a cow.”
Reflecting on the experience he said, “It was a tough season. But it didn't break me. As someone once wrote, 'What doesn't kill you…doesn't kill you.'”
Since leaving public office, Adeosun has devoted himself to philanthropy, focusing on uplifting vulnerable children and supporting the less privileged. He said this phase of his life has deepened his appreciation for the resilience and ingenuity of ordinary Nigerians.
According to him, working together with vulnerable communities has revealed their strength, creativity and determination to survive against the odds.
“One thing I have come to understand is that weak people are not passive. Far from it. Across Nigeria, I have seen remarkable strength, women running small businesses on the margins are so few that it seems impossible.
“Communities are quietly building their own safety net. Young people are doing everything they can to keep their brothers and sisters in school and build better futures for their families.”
He said Nigerians have immense creativity, resilience and enterprise, and many genuinely desire a fair and enabling environment.
“But Nigerians themselves have a lot of creativity, resilience, and enterprise. Most Nigerians I've talked to are simple: a fair system, low barriers to entry, and room to create.
“Real change will happen when an environment is created that allows our people to thrive. I have always believed that compassion must guide policy, competence must guide execution, and respect must be at the center of every decision.”
Reflecting on his journey, Adeosun concludes that his experiences have strengthened his deep sense of purpose beyond public office.
“My experiences over the years have only strengthened that belief. I have also learned that your identity should not depend on any title, and if one lives with integrity, purpose and impact, the respect you earn will outweigh any title.”
