AGF laments slow repatriation of stolen funds
The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has expressed worry over the tedious process of recovery and repatriation of looted funds stashed abroad.
He said despite several bilateral and multilateral agreements between Nigeria and other jurisdictions, the processes of recovering the funds are very rigorous.He, therefore, called on international communities to improve on procedure for fastening return of the Nigeria’s assets to enable it meet the Sustainable Development Goals (SDGs).
The AGF, who stated this yesterday at the Pre-Global Forum on Asset Recovery (GFAR) Consultative meeting in Abuja, said that they had concluded negotiation with Switzerland on the return of $321million recovered from the late Abacha family, adding that Nigeria has just recovered $85 million on the Malabu restrained funds from the United Kingdom (UK).
He noted that corruption undermines economic development, political stability, rule of law, social development, disrupts social order and destroys public trust in the governance system.
“In Nigeria for instance, resources and funds meant for development of infrastructure in education, health and security sectors, among others, have been gradually stolen and laundered in different parts of the world,” he said.
Also, British High Commissioner to Nigeria, Paul Arkwright, has lauded Nigerian government for its strong effort in the anti-corruption drive, saying that he was impressed with the commitment.
According to him, Nigeria is one of the four priority countries to be part of the meeting at the global forum on asset recovery slated for December in Washington DC.
He said: “We want to see that stolen monies retrieved are put in good use for the people of Nigeria.Executive Director, Africa Network for Environment and Economic Justice (ANEEJ), David Ugolor, said the forum would provide another opportunity for Nigeria to consolidate on a number of issues, including international co-operation to strengthen the mechanism for asset tracing, recovery and repatriation.
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