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Nigeria, South Africa to sign pact on assets recovery



Nigeria, South Africa to sign pact on assets recovery

The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, said on Friday Nigeria and South Africa were considering the possibility of signing a Memorandum of Understanding (MoU) on assets recovery and repatriation.

Magu disclosed this during the closing ceremony of the two-week capacity-building and mentorship programme for 10 officials of the Liberian Anti-Corruption Commission (LACC) at the EFCC Academy in Abuja.

Under the agreement, assets stolen from Nigeria and taken to South Africa would be repatriated and vice versa.

He said: “You know that corruption is a borderless crime and we have signed MoUs with several countries on the need to exchange information and intelligence, and conduct joint operations.

“Last week I was in South Africa; there is a process ongoing to sign an MoU that we can just walk to the country and recover assets stolen by our citizens with their help and likewise them over here too.”

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Magu said the training was requested by the Liberian, President George Weah, during a meeting with President Muhammadu Buhari, having seen Nigeria’s success story in the fight against corruption.

According to him, the programme was sponsored by the Federal Government through the EFCC under a bilateral partnership between the two countries.

“It is a good thing. We are willing to partner with all nations in the fight against corruption and the credit should go to the President who has no reservation for the fight against corruption.

“We have had several African countries who were here for same training. Niger, Cameroon, Zimbabwe, Kenya and now Liberia all benefited from this academy,” Magu added.

He advised looters to turn a new leaf, stating that there was no hiding place for them.

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