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Tag: Stolen funds

  • Poll: Magu warns bankers on politicians repatriating stolen funds

    Banks got a stern warning yesterday not to collude with politicians who are repatriating stolen funds for the general elections.

    Economic and Financial Crimes Commission (EFCC) Acting Chairman Ibrahim Magu said the Commission was aware that a top politician who sold a choice property abroad planned to repatriate the proceeds for electoral inducement.

    Magu gave the warning in Lagos at a session with the Association of Compliance Officers.

    In the text of his speech which was released to reporters in Abuja, he urged bankers to stop laundering funds for politicians.

    He said:  ”I deem this forum as very important to serve as a means to communicate to you the observations of the EFCC on the various activities of financial institutions and the deliberate connivance and collusion of most of the banks in laundering illicit funds for criminals as well as politicians.

    “We are not ignorant of the prevailing electioneering activities going on in the country today and the efforts being made by many politicians who had stolen our commonwealth to repatriate to Nigeria these stolen funds for the purpose of influencing the elections through vote buying and compromise of electoral officers to do their bidding, as well as engage in various other illicit activities calculated to undermine the integrity of the elections.

    “The impact of allowing these elements to compromise our elections will be grievous, and devastating, we must as such and as a matter of urgency team up together to ensure that these elections are not compromised in any form or manner.

    “We are all under a civic duty to comply with our various responsibilities and ensure that we do the needful to obey the laws and regulations governing the elections.”

    The EFCC chairman spoke on the “desperate” methods being employed by some politicians to repatriate illicit funds into the country.

    He said the anti-graft commission had received an intelligence report on how a top politician sold a property abroad to finance elections at home.

    He said: “Foreign properties bought with proceeds of crime are sold and the proceeds transferred to Nigeria through international banks as legitimate funds that can be used to finance several activities, including elections.

    ”Recently, we received intelligence report from a sister agency in another country informing us of a top Nigerian politician who has sold his property in that country and intends to repatriate the proceeds of the sale of the property to Nigeria. This same individual had earlier denied ownership of the said property.

    “Goods bought with proceeds of crime abroad are sent to Nigeria to support empowerment programmes during elections. The goods are mostly cleared with deficient trade documents processed through the international banks.

    “Moving proceeds of crime earlier taken across border to neighbouring countries back to Nigeria by depositing such funds in banks with corresponding banking relationship with local banks in Nigeria…These funds can be used to finance elections in the country by physical distribution of the funds for political inducement or financing empowerment schemes to solicit votes from citizens.

    “Private bankers for international banks facilitate the movement of proceeds of crime i.e. physical movements of cash to the country via chartered airlines in the guise of the bank.”

    Magu said that the inducement of voters attracts a 12-month imprisonment or a fine of N100, 000.

    He remind his audience of the provisions of the Nigerian Electoral Act, 2010, Article 130, provide that:

    ”A person who corruptly by himself or by any other person at any time after the date of an election has been announced, directly or indirectly gives or provides or pays money to or for any person for the purpose of corruptly influencing that person or any other person to vote or refrain from voting at such election, or on account of such person or any other person having voted or refrained from voting at such election; or

    “Being a voter, corruptly or takes money or any other inducement during any of the period stated in paragraphs (a) of this Section, commits an offence and is liable on conviction to a fine of N 100,000.00 or 12 months imprisonment or both.”

    Read also: Why restructuring is key to unity, by Akinrinade

    The EFCC chairman pleaded with compliance officers to serve as responsible gatekeepers by reporting suspicious transactions.

    He said: “While vote buying is subject to punishment, the attainment of compliance to this legal obligation remains the challenge and it is our responsibility to prevent these crimes.

    “We have come to realise that political inducement has now taken other forms and tagged in different names, i.e. stomach infrastructure, empowerment schemes, non-interest yielding loans, outright cash handouts etc.

    “These inducements take place during or before the day of the elections, which makes it rather difficult for law enforcement agencies to track.

    “Because you are the gate keepers, you must keep your eyes open to these inducement schemes. Your obligations are not different from your usual filing of suspicious transactions reports to the relevant authorities, and the prompt filing of currency transaction reports as well as foreign transaction reports.

    “We have also observed the upsurge of illicit financial flows into the country through the borders and it is disheartening to see the role financial institutions play in either facilitating the flows of these funds into the country.”

  • Osinbajo: bankers should face trial for stolen funds

    Osinbajo: bankers should face trial for stolen funds

    How to recover loot, by Malami, Onyeama, Sagay, Falana

    Acting President Yemi Osinbajo yesterday called for the prosecution of banks and their officials who aid corruption by hiding looted funds.

    He faulted those who accuse the Economic and Financial Crimes Commission (EFCC) of engaging in media trial, saying it was corruption fighting back.

    The Acting President spoke in Abuja at the opening of a three-day conference on “Promoting International Cooperation in Combating Illicit Financial Flows and Enhancing Asset Recovery to Foster Sustainable Development”.

    It was organised by the Presidential Advisory Committee Against Corruption (PACAC).

    Other speakers were Attorney-General of the Federation (AGF) Abubakar Malami (SAN), Foreign Affairs Minister Geoffrey Onyeama, PACAC Chairman Prof Itse Sagay (SAN), a member of the High Level Panel on Illicit Financial Flows from Africa, Mr Akere Muna, who was the keynote speaker, former EFCC chairman Nuhu Ribadu, PACAC Executive Secretary Prof Bolaji Owasanoye and activist-lawyer Femi Falana (SAN), among others.

    Referring to a report by the High Level Panel that was headed by former South Africa President Thabo Mbeki and commissioned by the African Union and the United Nations  Economic Commission for Africa (UNECA), Osinbajo said most of the illicit funds from Africa were from Nigeria.

    Anti-graft agencies, he said, should do more to curb the trend.

    “That shows us very clearly, especially the security agencies, that we simply have to do more. It is evident that so much money is leaving our shores,” he said.,

    Osinbajo said financial institutions that aid corruption should face the consequences.

    He said: “There is no way the transfer of these assets can happen without a handshake between the countries that they are transferred from and the international banking institutions in the countries in which they are transferred. There is no way it will happen without some form of connivance. ,

    “We have to look at somehow delegitimising those kinds of financial institutions and criminalising them.

    “Banks and financial institutions that actually engage in this must be called out and made to face the consequences of engaging in criminal practices. If that is not done, we are not likely to go very far.

    “In the agreement and conventions we will be signing, we must ensure that financial institutions are not given a free run and to hold them accountable., “

    The Acting President said corruption fights back when stolen monies find safe havens and are accessed by the corrupt.

    “In Nigeria, for instance, corruption fights back so eloquently that government itself, if not careful, can be overwhelmed,” he said. ,

    Osinbajo said some of those guilty of corruption fight back through media attacks on government.

    “If you look at the anticorruption fight in Nigeria, there is a major fight back in the media. There is a media war, between people fighting corruption and those behind the stolen funds. ,

    “It is called ‘media trial’ – I don’t know what that means. If you discover, for instance, large sums of money in an air conditioned room, there is no where it will not make news in the world. ,

    “So, this whole idea of trying to legitimise corruption is definitely being fuelled and sponsored by those who have these resources, who have stolen funds.

    “Unless we see it as a problem that can bring down our system then we will never be able to fight. I hope we will be able to advance this with other African countries,” he said.,

    The Acting President said some development partners were reluctant to provide funding for Nigeria because they believed the country was not poor.

    “Clearly it is sometimes absurd that when we are asking for aid, so much money is being stolen. So we ourselves must take responsibility and ensure we keep talking about this,” he said.

    Osinbajo said developing countries must realise that it is their responsibility to ensure that not only are stolen funds traced and returned, but calls for return of stolen assets must be strident.

    “Some countries are somehow reluctant about it. Many have civil processes that make it difficult. They said: ‘Our courts are handling this matter and there is very little we can do about it.’ ,

    “We must make it a national call, a call for other developing countries to have the same outrage for drugs, terrorism financing as for illicit financial flows.

    “We must emphasise at every point and call out institutions that are not cooperating and ensuring that they recognise that this for us is a serious issue,” he said.

    According to Muna, Africa loses between $50billion and $80billion through illicit financial flows; the continent remains a net creditor despite the inflow of development assistance.

    He said secrecy in financial transactions, which he noted had been hijacked by greed and self-interest, must end.

    “It is imperative that we make it a priority to double efforts to end the use of financial secrecy for corruption, drug smuggling, money laundering, terrorism, people trafficking and other illicit financial practices,” he said.

    Muna reiterated a recommendation by the Mbeki Panel – that escrow accounts should be created within development banks to keep recovered stolen assets, pending when they are returned to the owners.

    “Frozen money should not stay with the complicit bank, but in an escrow account with a third party pending the courts’ or competent authorities’ determination as to the rightful owners of the funds,” he said.

    Sagay said most of the financial assets pillaged from state coffers deprive Nigeria of the capacity to realise the sustainable development goals of no poverty, zero hunger, good health and wellbeing, quality education, clean water and sanitation and affordable clean energy.

    “None of these goals is affordable in a developing economy whose wealth is hemorrhaging and flowing to already developed societies,” he said.

    Noting that an annual flow of proceeds of crime is an estimated $1.6trillion, half of which he said come from developing economies, Sagay said Africa must improve its capacity to stem illicit financial flows if it must realise its development goals.

    To Onyeama, the fight against corruption and illicit financial flows is a shared responsibility that must be tackled by the global community.

    “We urge the international community to strive to eliminate safe havens that create incentives for foreign transfer of stolen assets and illicit financial flows.

    “We urge destination countries to remove bottlenecks and conditionalities hindering the recovery of illicitly acquired funds and assets,” he said.

    Onyeama said there was the need for the global community to urgently redouble efforts to substantially tackle illicit financial flows through strengthened national regulation and increased international cooperation.

    “We urge that concerted efforts be directed at the enhancement of disclosure practices and transparency in both source and destination countries, including by seeking to ensure transparency in all financial transactions between countries and companies to relevant tax authorities,” Onyeama said.

    Malami said Nigeria must join the international community in stemming illicit financial flows, improving asset return and ensuring sanctions for perpetrators of acts of corruption.

    According to him, the passage of the Mutual Legal Assistance Bill by the Senate shows a political will to fight corruption and trace, freeze and recover stolen assets.

    Malami called for international support “through aggressive action of repatriation of illicit wealth,” adding that government has the political will to tackle graft.

    “The initiation of the ongoing review of the Nigeria Financial Intelligence Agency Establishment bill will aid in tackling illicit flows.

    “The commitment to prosecute corrupt public officials and recovered looted public funds is reflected at all levels and sectors where corrupt practices occur,” the AGF added.

    Prof Owasanoye said PACAC was pushing for the prosecution of “middlemen” such as accountants, lawyers and customs officials who aid looting.

    “When you pick up the politically exposed person, you must also pick up the middleman – the accountant, the lawyer, the customs official who looks the other way. Let them suffer the consequences together. That is what we are pushing for at PACAC,” he said.

    Ribadu, who chaired a session, said corruption cannot take place without the active connivance of banks and other financial institutions. To him, the culpable officials must be brought to book.

    Falana said no developed country would willingly return stolen assets, as they use such funds to develop their countries.

    He urged the AGF to set up team of lawyers who will file lawsuits against foreign banks holding funds taken away from Nigeria.

    “Once we locate the illegal funds, they should go after the banks warehousing the funds and file actions in court on behalf of our government,” Falana said.

  • Trump will help Nigeria return stolen funds, says ex-envoy

    Trump will help Nigeria return stolen funds, says ex-envoy

    Former Nigerian High Commissioner to Australia, Ambassador Adegboyega Ariyo, has expressed optimism that the new United States President Donald Trump will help return the nation’s stolen funds stashed away in some Western countries.

    Ariyo spoke yesterday as a guest speaker at Diplomatic Dialogue, an intellectual discourse organised by the Department of International Relations and Diplomacy, Afe Babalola University, Ado Ekiti (ABUAD).

    The discourse was entitled: “Donald Trump’s Ascension to American Presidency: Implications for Nigeria, Africa and the World.”

    Ariyo, who also served as Nigerian High Commissioner to Namibia and Head of Diplomatic Corps to the Southern African country, said there are some positives the Trump Presidency portends for Nigeria and other African countries, contrary to fears being expressed in some quarters.

    The ex-envoy said if Trump carries out his threat to send many Africans back to their home countries, many Nigerian professionals and intellectuals who have abandoned their homeland in search of the proverbial Golden Fleece will help develop their country.

    But Ariyo explained that Trump may not carry out many of the threats he issued during the American presidential election campaign because he has to carry along some institutions like the Congress, the Pentagon, the intelligence community along before taking decisions.

    He noted that some of Trump’s advisers who have African background like a Nigerian he appointed, Bayo Ogunlesi, would mellow him down in taking decisions that affect the continent.

    Another guest speaker at the

  • ‘Developed countries frustrating reparation of stolen funds’

    ‘Developed countries frustrating reparation of stolen funds’

    THE battle to recover and repatriate funds stolen from Africa and other developing countries was being hampered by legal constraints put in place by many developed countries, Presidential Advisory Committee on Anti-Corruption said yesterday.

    Its Executive Secretary, Prof. Bolaji Owasanoye, who spoke at Nigeria Labour Congress (NLC) and International Trade Union Confederation (ITUC) Africa Stop Illicit Financial Flows (IFFs) campaign inaugurated in Abuja, said many developed countries were putting in place laws to frustrate the return of such funds.

    According to him, many of these stolen funds were, however, being repatriated to developing countries in form of aides, grants, technical support among others probably out of moral guilt.

    Saying the United Nations (UN) Convention on corruption, which many countries signed on stipulates that such funds were returnable, Owasanoye said the campaign to stop IFFs was just the beginning of the struggle for asset recovery “because when you eventually identified what has been stolen and you want to get it back, that is a big trouble”.

    He said: “When NLC and other stakeholders identify what has been taken away and ask the recipient countries to return it, you then begin to see all forms of legal obstacles, which we are facing now.

    “This is first the beginning of the conversation to say you are killing us and we need to stop the bleeding.

    “When we recognise and put some measures to stop the bleeding, the next is to say let us have the resources returned; then you begin to have all manners of problem. That is why the issue of asset recovery has become an issue of global concern. Some countries are presently passing laws to make asset return almost impossible.

    “There are countries that if your money get there, you cannot get it back by law. They will agree with you that it was stolen from your country, but you can’t get it back. That of course is legalising the recipient of stolen property, because in basic common law, both the thief and the receiver of the stolen goods are equally guilty.

    “This is another level of advocacy that we all need to prepare to fight. You may be aware that Nigeria has been having trouble recovering assets that have been identified to be returned to us. All manner of obstacles have been put on the way to have them returned.

    Owasanoye said: “A lot of people focus on corruption and activities of politically exposed persons, who occupy public offices. But even worse is the work of the private sector, which many of us do not even understand because of the complexity of this sector.

    “Corporations explore either weak regulatory structures or put undue pressure on government in the name of we want investment for them to pay less tax than they ought to pay or get waivers than they do not deserve; they explore weak infrastructure.

    “For example, there are companies, who lift oil in Nigeria and under-report what they lift and declare exactly what they are carrying when they get to where they are going because they cannot lie when they get there. When you under-report, you have stolen our money because you have paid less than what you ought to pay.

    “They also explore systemic corruption by shifting profit from the books of Nigerian companies to the books of tax havens and by so doing, you pay less tax to the Nigerian government. They have stolen our money because corporate tax in Nigeria is 30 per cent.

    “There is also tax evasion. There are many ways  corporations actually bled the country. We are told about trade mispricing, there is transfer pricing, under-invoicing and over-invoicing.

    “Multinationals claim to be buying spare-parts for their plants in our country. In the global market, it may cost $10. But when they are buying from their own country to come and produce in Nigeria, they claim it is $100. You have already inflated the price and has cost the Nigerian company $90 for each of those items. By doing that, you have already taken part of your earnings out of the country through over-invoicing and when it is time to export, they over-invoice.

    “According to World Bank data, less than five per cent of funds stolen from developing countries ever gets returned and the rest just stayed on the other side and it comes back under different guise such as aides, technical support among others.

    NLC President Ayuba Wabba attributed the under-development in Africa to IFFs, adding that despite the enormous potential of Africa, it remained backward because funds taken out of the continent were not accounted for.

    This, he said, had become a major challenge, stressing that the congress will partner with government to fight corruption.

  • U.S. pledges to repatriate Nigeria’s stolen funds

    U.S. pledges to repatriate Nigeria’s stolen funds

    THE United States (U.S.) will assist Nigeria to repatriate its fund stashed abroad by corrupt public office holders and politicians, its Special Representative to Muslim communities Shaarik Zafar said yesterday.

    Zafar, who spoke in an interactive session with reporters in Kano, explained that the U.S. was committed to fast-tracking the process of bringing back the stolen money.

    According to him, “before the stolen money could be brought back to Nigeria, certain legal procedures needed to be followed and that is what the U.S. is facilitating.’’

    Zafar was optimistic that the fight against corruption in Nigeria would succeed.

    He was in the city for an inaugural workshop on anti-corruption tool for religious leaders.

    The workshop was organised by Zafar’s Office under the U.S. Department of State.

    He said if corruption could be effectively tackled, the country would witness socio-economic growth.

    “I am optimistic that if corruption can be tackled, the trend is positive for Nigeria based on the commitment,’’ Zafar said.

    According to him, the U.S. was committed toward assisting Nigeria in the fight against corruption.

    He added: “Nigeria’s success is America’s success; hence our decision to work with government, civil society organisations and religious groups on areas to prevent corruption.”

    The U.S. envoy said the workshop would address how religious communities could work together to combat corruption, promote accountability and encourage transparency.

    “I have a global mandate. So, I will encourage a continued focus by religious leaders on the critical challenge of combating corruption. This is not only because of their moral voice. Critically, religious leaders speak a common language with their communities.

    “They also have incomparable access, unique networks and level of respect that can help in this common battle against corruption and to promote accountability,”  Zafar stated.

  • ‘Britain not ready to release Nigeria’s stolen funds’

    Steve Franklin is an American widely traveled journalist and author, President of Nigerian American Press Association (NAPA) a famous media association of Nigerians and American journalists with over 100 memberships. He’s a very outspoken media professional who passionately follow events in Africa. In this interview with Adetutu Audu, he chronicles several vices imbibed in Britain as they continually squander Nigeria’s Stolen Wealth kept in Britain’s Bank Account for their own rapid development at the latest  Anti-Corruption Summit in UK.

     How do you view the on-going Anti-Corruption Summit in Britain?

    As far as I am concerned, I know that from the outset of United Kingdom Anti-Corruption Summit, David Cameron, British Prime Minister had convened that meeting to embarrass and disgrace Nigeria, which was why he referred to ‘Nigeria and Afghanistan’ as two most corrupt nations in the world during his pre-summit chat with Queen Elizabeth II. Were it not the video camera that captured that scathing and derogatory statement, Cameron could have denied he did not utter it. Britain is not a saint, but very corrupt. In the present list of Transparency International Corruption Index, UK occupied 10th position with Germany, Luxembourg.

    You are aware in the UK Anti Corruption Summit, Cobus de Swardt, Managing Director of Transparency International reacted to Cameron comments regarding Nigeria, Afghanistan as ‘Most Corrupt’ when he said: ‘There is no doubt that historically, Nigeria and Afghanistan have had very high levels of corruption, and that continues to this day. But the leaders of those countries have sent strong signals that they want things to change, and the London Anti-Corruption Summit creates an opportunity for all the countries present to sign up to a new era. This affects the UK as much as other countries we should not forget that by providing a safe haven for corrupt assets, the UK and its Overseas Territories and Crown Dependencies are a big part of the world’s corruption problem.’

    I can tell you that majority of British politicians and Nigerians are presently condemning Cameron for trying to place Britain as a saint, immunized from stealing. In Africa, I have heard lots of people say ‘A Pot cannot be calling the Kettle Black.’ May be you don’t know yet, British opposition politicians and anti-corruption campaigners have said Cameron was ill-placed to criticize Nigeria when Britain’s own record on combating corruption was less than glorious.

    Unilaterally, they have said that corrupt politicians and business people from Nigeria and many other countries have laundered their ill-gotten gains in Britain’s property market, while London also has ties to numerous tax havens routinely used to hide stolen money to develop their country. There will be an Agreement to be signed at the end of the summit on Reparation of Nigeria’ stolen funds in United Kingdom.

    Are you sure that after Nigeria may have signed the Agreement on Stolen Funds Reparation, the UK Government will return the money?

    Based on Britain’s body language, I am sure they are not ready to return Nigeria’s stolen funds stashed in various banks which I will reveal shortly soon. They act and see themselves as Dictator, suffering from Colonial Master’s Syndrome. They want to use Nigeria’s stolen funds to build and rapidly develop their own nation to their optimal satisfaction. When they are through, they will then recycle same stolen funds into their banks and begin to give to Nigeria in piece meal after a long waiting period. They will then attach stringent conditions for Nigeria to follow in implementing the piece meal funds reparation. If they feel that the returned funds is not well executed according to British laid down rules, they will delay releasing other stolen funds.
    My position is further confirmed by a reported statement from British High Commissioner to Nigeria, Paul Arkwright, who said that the UK government had no plan to keep the money, but there are certain legal requirements that Nigeria had not met to ease the recovery of the money. He agreed that the money belongs to the Nigerian people but left a caveat that they ‘need to make sure that the money is well spent when it returns to Nigeria’. They need to make sure they ‘can do that in a proper way, which is fully in compliance with the British law.’ What an insult. Nigeria is a Sovereign nation like Britain, with laid down rules on procedures. Britain must do away with its Master-servant mentality. They cannot enforce British laws on Nigerian laws. That is why I call them dictator of the highest order. Nigeria had her independence since October 1, 1960, yet you are not willing to let the country grow, progress forward. What a shame.


    Can you mention those British Banks where British Government hides Nigeria’s stolen funds?

    Let me say here that British Government is government built mostly on stolen funds from the money pilfered by some politicians in those countries and kept in their banks. It is strange that UK knows those funds were stolen from Nigeria yet they instruct their banks to collect such funds, so that they may use the funds through backdoor and play it around in a circle, when tired, they return the funds into the banks. It is that simple. It will shock you to hear that British banks being used by UK Government to hide Nigeria’s funds are: HSBC, Barclays, Natwest, & Royal Bank of Scotland. Till date, no British bank has been publicly fined or even named by the regulators for taking corrupt funds, whether willingly or through negligence.

    Recently, an International corruption watchdog said high street banks in the United Kingdom could have helped fuel corruption in Nigeria by accepting millions of dollars in deposits from dubious politicians in the West African nation.

    How come five leading UK banks have failed to adequately investigate the source of tens of millions of dollars taken from two Nigerian governors accused of corruption in the past. Robert Palmer, a campaigner at Global Witness corroborated my position when he said ‘Banks are quick to penalize ordinary customers for minor infractions but seem to be less concerned about dirty money passing through their accounts.

    He also said ‘Large scale corruption is simply not possible without a bank willing to process payments from dodgy sources, or hold accounts for corrupt politicians in the knowledge of the government.

    I strongly share in the belief that Financial Services Authority (FSA) have failed woefully to do more to prevent money laundering through British banks. The fact that they reportedly acknowledged that in accepting the money, Barclays, NatWest, Royal Bank of Scotland (RBS) and HSBC, as well as Switzerland’s UBS, might not have broken the law is a shame on British Government.

    In Britain, banks help in facilitating corruption. Name one British bank that has been publicly fined or even named by the regulators for taking corrupt funds, whether willingly or through negligence or sacked. In United States, banks that breach the law have been fined hundreds of millions of dollars for handling dirty money. Barclays, HSBC and UBS are all members of the Wolfsberg Group, an international body set up in 2000 to try to improve global anti-money laundering procedures. This revelation was made by Robert based on court documents from cases the Nigerian government has brought in London in an attempt to get funds returned that it said were stolen by two former state governors: Diepreye Alamieyeseigha of Bayelsa state and Joshua Dariye of Plateau state.

  • Buhari to Int’l community: Expedite repatriation of our stolen funds

    Buhari to Int’l community: Expedite repatriation of our stolen funds

    President Muhammadu Buhari on Thursday urged the United Nations Office for Drugs and Crime (UNODC) to facilitate the faster recovery of Nigeria’s stolen wealth stashed abroad.

    A statement issued by the president’s Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, said the president made the call when he received the Executive Secretary of UNODC, Mr Yury Fedotov, in the Presidential Villa, Abuja.

    President Buhari said that the process of recovering the stolen assets had “become tedious’’ to the consternation of many Nigerians.

    “We are looking for more cooperation from the EU, United States, other countries and international institutions to recover the nation’s stolen assets, particularly proceeds from the stolen crude oil.

    “It is taking very long and Nigerians are becoming impatient,’’ he said.

    According to president Buhari, his government has worked very hard in the past 11 months to reverse the very negative global perception of Nigeria on corruption.

    “Our genuine efforts to deal with corruption and drugs have earned us international respect and this has encouraged us to do more.

    “We know that by fighting the scourge of drugs and corruption and rebuilding trustworthiness, integrity, good business practices, and imposing discipline on youths to avoid drugs, we are not doing a favour to the international community, we are doing a favour to ourselves,’’ he added.

    The president also promised that his administration would work with the UN agency to rehabilitate young Nigerians who had been misled into consumption of illicit drugs and drug trafficking.

    In his remarks, Fedotov said that UNODC had chosen Nigerian as a pilot country for support and strategic cooperation in the fight against drugs and corruption.

  • UN to help Nigeria recover stolen funds

    UN to help Nigeria recover stolen funds

    United Nations (UN) has vowed to continue to work in partnership with the National Assembly, Presidential Advisory Committee on Corruption and Civil society leaders among others in the process of recovering stolen public funds and enhance transparency.

    The Newly appointed United Nations Development Programme, (UNDP), Resident Representative, Ms. Fatima Samoura revealed this yesterday in Abuja at a media breakfast meeting.

    She said within the year: “We shall support the civil society organizations with grants, towards improving the quality of their engagement in the anti-corruption process in the country and in enhancing the transparency of public institutions. This would enhance the success of the on-going war against corruption, increase the rate of recovery of stolen public resources and enhance transparency.”

    Fighting corruption, Ms. Samoura said requires strong government wiliness adding that corruption has a lot to do with weak institutions.

    Speaking on how to also ensure peace in the country especially in the northern part with the Boko Haram insurgence, she said the UN and its agencies in partnership with the Federal Government and the Northern Governors are currently reviewing and finalizing a Recovery and Peace-Building Assessment (RPBA) report on the situation in the region.

    Her words: “We will continue working closely with civil society leaders in partnering with the Presidential Advisory Committee on Corruption and in working closely with Anti-Corruption Agencies towards entrenching a culture of integrity in Nigeria.  We will continue engaging with and supporting the National Assembly and other stakeholders because we believe the fight against corruption requires the involvement of everyone.

    “Fighting corruption requires strong government wiliness. And I know that UN administration has taken very strong step in fighting corruption. The second problem is the wiliness to track all the funds that has been stolen, hence a constant dialogue with those countries. Now we are living in a global world.

    “I am sure you are aware of the moneys that have been recovered from Switzerland and other countries that need to be reinvested in the development programme. Corruption has very much to do with weak institutions. If we can work together in not only making the fight a priority at all level of the state including the Local Government Areas (LGAs), and making sure that every money that leaves the country is accounted for we will make a big difference.

    “And I would say that Nigeria with its booming economy has really been penalized in terms of addressing inequalities because of corruption and I know that this nation has made it imperative to consolidate the gain after the democratic elections. We are all responsible one way or the other of how our country’s institution is governed. It is up to us also to make sure that we fight corruption and UNDP will give support.

    “This remains a critical area for us at UNDP and the UN at large. We will continue to provide support to the government in responding to emerging challenges; – we are redoubling our efforts and investing more in promoting peace because, as the former Secretary-General Kofi Annan once said, “there can be no development without peace, no peace without development, and none of these without respect for human rights.”

    We have already commenced the implementation of two projects which contributes to structural conflict prevention in the North East. These are on ‘Livelihood Support and Social Cohesion’ and the ‘De-Radicalization, Counter-Terrorism and Migration’ Projects.

    “The UN efforts are directed at supporting and promoting peace building, conflict prevention and social cohesion. All this is packaged in the framework of a National Infrastructure for Peace in Nigeria. We want to use this framework to harness efforts at Federal, State, and Local Government areas, bringing together the relevant stakeholders. We will keep providing support towards enhancing our early warning and response mechanisms and programmes, and expand channels for dialogue aimed at peaceful co-existence.

    “The UN, through its agencies (particularly the UNDP, the UN Women), in partnership with the Institute for Peace and Conflict Resolution (formerly of the Presidency and now hosted by the Ministry of Foreign Affairs) and other development partners, have been working in this area and a draft National Peace Policy was produced. It is my wish that this policy will be approved by the relevant bodies so that we can rally support its implementation. I will like to emphasize the need for coordination amongst the various institutions and partners involved in one aspect of peace building and human security in order to maximize efforts and minimize duplication of resources.

    “The UN, EU and WB in partnership with the Federal Government and the North-East State Governments (Governors) are currently reviewing and finalizing a Recovery and Peace-Building Assessment (RPBA) report on the situation in the region. It is my wish that this joint exercise will continue to cement our partnerships and complementarily in accompanying Nigeria on its path to recovery, peace and development.”

    Ms. Fatima Samoura is also the UN Resident and Humanitarian Coordinator.

     

  • Stolen funds: EFCC has recovered billions, says Magu

    Stolen funds: EFCC has recovered billions, says Magu

    The Chairman of the Economic and Financial Crimes Commission, Mr. Ibrahim Magu yesterday said the agency has recovered billions of stolen funds.

    He said the anti-corruption war is “the war of the people.”

    He also said that  “apart from the fear of God, we have no other fear.”

    Magu, who made the submissions in an address to a coalition of Civil Society Groups who marched to EFCC for a solidarity rally, said senior lawyers were frustrating the war against corruption.

    He however said the days of impunity are over.

    He said: “ We want the Nigerian people to continue to support us, continue to support Mr. President’s war on corruption.

    “We have many corruption cases in court. We are getting them every day from everywhere and we are recovering stolen money and taking corrupt people to court.

    “ The money we have recovered and the money we are going to get back from them -billions and billions of Naira- is being paid back to government and will be used to do what it was originally meant for -to build hospitals, send our children to school, build roads and railways, create employment and defend our country.

    “ We have no other country than Nigeria. This war is the war of the people.

    “ Apart from the fear of God, we have no other fear.  Apart from the interest of Nigeria, we have no other interest. And apart from the Rule of Law, we have no other rule guiding the work we are doing today.  The days of impunity are over.

    Victory is certain for the common man! Aluta continua!”

    Magu expressed regrets that some senior lawyers had been frustrating the war against corruption.

    He added:  “One of the big challenges we have in the effective prosecution of the war on corruption, is that of very senior lawyers who Nigeria has been very kind to: They who went to good schools here, when Nigeria was good, many of them, on government scholarship; they who Nigeria has given so much opportunity.

    “When we have corruption cases, cases of people who have stolen food from the mouths of our children; when we have cases of people who have stolen money meant to build hospitals and buy drugs; when we have cases of people who have stolen all the money meant to buy guns for our soldiers to fight Boko Haram, when we have all these cases of wicked people who have stolen Nigeria’s money, they run to these same senior lawyers, give them part of the stolen money and mobilise them to fight us, to delay us in court and to deny Nigerians of justice.

    “ These are the people who do not want justice for the common man.

    “ The other day, 34 Senior Advocates of Nigeria fought against only one small EFCC lawyer in court and he defeated all of them!  What we are doing today is not by our power, it is the power of the Nigerian people and the power of God behind us!”

    The EFCC chairman debunked insinuations that the EFCC does not follow the rule of law.

    He said: “ Corrupt people hire journalists to abuse us every day, they say we are not doing the work according to the law.  But, that is not true.

    “There is no agency that follows the law more than EFCC.  None.  Before we arrest you, or seize your property or do anything to you, we check the law, we go to court and get court order.  That is why we are winning; that is why we are defeating them everyday.”

  • Bank manager fingered in stolen funds under Suswam

    Bank manager fingered in stolen funds under Suswam

    The Justice Kpojime Judicial Commission of Inquiry has directed a Former Branch Manager of Guarantee Trust Bank PLC Makurdi Miss Aguma Uloko to furnish members of the Commission with details of what she did with the N7 million she collected cash from officials of the Ministry of Finance in August last year latest Tuesday this week.

    Chairman of the Commission, Justice Elizabeth Kpojime gave the directive during the testimony of the former bank Manager who admitted that out of N168.6 million naira collected, only seventy million naira was actually signed and collected from Ministry of Finance officials.

    Members of the Commission confronted the witness with records showing that on the 11th of August last year, one Abel Musa, a staff of Guarantee Trust Bank signed and collected N16 million cash on Miss Uloko’s behalf.

    Also, on the 7th of August last year, the same staff Abel Musa signed and collected N8 million while on September 3 last year, records showed that the branch manager signed and collected N118.8 million from the Ministry of Finance officials for lodgment in the Ministry’s account with the bank.

    Miss Uloko however insisted that she signed acknowledgement for receipt of only N70 million naira which she failed to show to the Commission or any record where she deposited the money and asked for more time to do so.

    The witness further explained that she resigned from the Bank on the 4th of May last year after 10 years of service, saying any staff who claimed to have collected money on her behalf was lying.

    She however admitted that she used to visit the Ministry of Finance to collect cash for deposit at the Bank and also managed the accounts of former Finance Commissioner and other Senior Staff.

    Our correspondent reports that the witness was accompanied to the commission by a counsel to defend her.