FG expresses commitment to repatriate looted funds to boost economy
NAN-H-69
Repatriation
Nwana Sylvia/Micheal Cynthia
Abuja, Sept. 29, 2016 (NAN) The Federal Government on Thursday in Abuja, said its committed to the repatriation of looted funds stashed in foreign banks to boost Nigerian’s economy.
The Minister of Foreign Affairs, Mr Geoffrey Onyeama, stated this during a post-UN General Assembly media briefing.
Onyeama explained that the federal government had earlier identified some countries where Nigeria’s funds were stashed away and was working closely with them.
“A lot of countries where Nigeria’s stolen money were lodged made restitution and are trying to repatriate the money.
“This makes it much easier when there is political buy-in by leaders of countries where the money are kept than going through the rigors of legal processes,” he said.
He said that President Muhammadu Buhari held meetings with U.S. President Barack Obama, UK Prime Minister Theresa May, and President Xi Jinping of China, on the issue the repatriation among others.
The minister explained that the world leaders pledged their commitments and cooperation to ensuring speedy repatriation of the funds to Nigeria.
The minister quoted President Muhammadu Buhari as saying he was committed to ensuring prompt and unconditional recovery of the country’s looted funds.
“Fighting corruption remains of prime importance to our administration and our efforts in fighting corruption are yielding positive results including the recovery of stolen money and assets recoveries,” he said.
The minister also said that the anti-corruption conference to be hosted by the U.S. and UK in Washington next year, will focus on stolen public assets.
News Agency of Nigeria (NAN) reports that the UK and Switzerland are some of the countries that such funds had been returned and efforts are still on the recovery of looted funds. (NAN)
(Edited by Tiamiyu Prudence Arobani/ Julius Enehikhuere)