International

Nigeria, Britain team up to recover loot, stop thieves

Published

8 years ago

August 31, 2016

Britain has joined Nigeria in its move to recover looted treasury of the country stashed in foreign banks and to stop Nigerian looters.

This is coming as the two countries on Tuesday signed a memorandum of understanding specifically on modalities for the return of stolen assets.

With that agreement, looters who plan to hide their illicit wealth in Britain will face a hostile host, with the signing a pact by the two countries.

Britain while signing the memorandum of understanding agreed it will facilitate the return of stolen assets on the condition that the Federal Government will ensure that stolen assets recovered from both within and outside the country will be put to judicious uses; and that such assets will not be re-looted.

Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami (SAN) signed for Nigeria while Minister of State for Immigration Robert Goodwill signed for Britain in Abuja.

Malami promised that for Britain willingness to cooperate with Nigeria in recovery and return of stolen assets, the Federal Government will endeavour to prevent further looting of the nation’s wealth.

“The position of the law in Nigeria today is that all funds recovered should be paid directly into the Consolidated Revenue Account. Unfortunately, that has not always been the case under the previous administration,” Malami said.

According to him, the Muhammadu Buhari administration was committed to enacting laws, including the Proceeds of Crime Bill, to strengthen existing anti-corruption institutions, prosecution authorities and law enforcement agencies.

The UK leader of delegation and UK’s Minister of State for Immigration, Robert Goodwill said the signing of the memorandum was in furtherance of his country’s promise, at the last Anti-Corruption summit held in London in May, to improve the process of the return of looted assets.

Goodwill, who refused to comment on the worth of Nigeria’s looted assets currently in his country, stated that the UK government was “committed to return all funds looted from the Nigerian State and we are keen to do this as soon as the necessary procedures allow.”

“This MoU provides the mechanism by which monies can be returned. Our ability to recover and return stolen assets should send a clear message to all, who may seek to harbour such assets overseas, that there is no safe haven in the UK,” Goodwill, a Member of Parliament (MP), said.

By Ebere Ndukwu …

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