Process of repatriating monies stashed abroad frustrating, disappointing, Magu cries out

The acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has lamented the difficulties being experienced in the repatriation of stolen assets traced to foreign countries.

He has therefore pleaded with international law enforcement agencies to assist EFCC in that regard .

He stated this in a statement on Friday through, Tony Orilade, EFCC acting Head, Media and Publicity.

“The process of repatriating monies stashed abroad has been very frustrating and disappointing, yet we have done everything possible, gone out of our way to encourage our sister agencies, but cooperation is almost nil,” he said.

Magu reportedly expressed the concern on recently at the EFCC Head Office, Abuja, during a visit by Dr. Joe Abah, Country Director of DAI Nigeria, an international development firm implementing programs covering governance, in more than 100 countries worldwide.

READ ALSO: You’re insincere about killings in the country, Southern, Middle Belt leaders chide ACF

He said: “We have been investigating a number of cases for over four years working with the Federal Bureau of Investigations, National Crimes Agency and even the Crown Prosecution Service, we have done everything possible, gone out of our way to encourage our sister agencies, but except there is a third party involved there is no cooperation.”

While noting that “the Swiss have been more cooperative”, Magu observed that “the others never disclose their findings”, and are “very reluctant to get the proceeds repatriated”.

He stressed, “We are willing to go outside this country to give evidence, and to share the intelligence that we have.”

He further noted that President Muhammadu Buhari has remained unwavering in his vision and mission of ensuring victory in the anti-corruption crusade.

“The next level in the corruption fight is promising, there is political will and we are going to be daring,” he said.

He further noted the importance of inter-agency collaboration between the EFCC, the Independent Corrupt Practices and other Related Fraud Offences Commission (ICPC), the Code of Conduct Bureau (CCB), and the Fiscal Responsibility Commissions (FRC), stressing that multi-agency collaboration was key to winning the corruption war.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now