Fidelity bank banner NewsExpress advert
Nigeria, UK sign agreement on stolen assets

By News Express on 31/08/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,113


The Federal Government has signed a Memorandum of Understanding (MoU) with the British government on the modalities for the return of Nigeria’s stolen assets.

The Attorney-General of the Federation, Mr Abubakar Malami, signed on behalf of the federal government in Abuja yesterday.

Malami said the pact affected the desire and willingness of both countries to continue cooperation and mutual support in the responsible and transparent return of all recovered assets.

He outlined the objectives of the MoU to include the fact that the processes of returning stolen assets was a partnership recognising the interest of both countries and based on mutual understanding, confidence and trust. 

“That both countries recognised that they have a mutual interest in ensuring that returned assets are not at risk of being misappropriated again. And that both countries recognised they have obligations toward their own citizens for providing such assurances.

“That both countries recognised the importance of ensuring that the highest possible standard of transparency and accountability are applied for the return of assets,” he said.

He assured the international community that all funds recovered would be judiciously utilised for projects that would benefit the poorest segment of the Nigerian society.

Earlier, the leader of the UK delegation, British Minister of State for Immigration, Robert Goodwill, said the MoU provided the mechanism by which monies could be returned.

Goodwill, who is also a member of the British Parliament, noted that there was no safe place for stolen assets in the UK.

“Our ability to recover and return stolen assets should send a clear message to all who may seek to habour such assets that there is no safe haven in the U.K,” he said.

According to him, the British government is committed to the return of all funds looted from the Nigerian State.

“We are keen to do this as soon as the necessary legal process allow.

“As outlined at the summit, we will be taking steps to accelerate the procedures for identification and confiscation of illegally acquired assets,” he said.

He said they were as committed as Nigeria in ensuring that beneficial ownership of assets was made available to relevant authorities so they know who the real owners of assets held in the UK are.

“Forty jurisdictions, including British Overseas Territories and Crown Dependencies announced that they will automatically share beneficial ownership information relating to companies, trusts, foundations, Shell companies and other relevant entities and legal arrangements.

“It is important that everyone can see how returned assets are used to benefit Nigerians. We have therefore agreed in this MoU to be fully transparent about this.”

The signing of the MoU is a follow up to the agreement reached at the London anti-corruption summit in May. (NAN)

•Photo shows Nigeria’s Attorney-General, Abubakar Malami, and leader of the UK delegation, British Minister of State for Immigration, Robert Goodwill signing the MoU on the modalities for the return of Nigerian stolen assets . . . Tuesday in Abuja.

Source News Express

Posted 31/08/2016 05:44:49 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Loyal forces crush Burundi coup; embattled President back...

G-7 nations throw weight behind Buhari

Senate orders immediate reinstatement of ‘wrongfully’ sacked Niger...

ANAN plans College of Accounting for Calabar

Court grants Moro permission for foreign medical check-up...

Whose lead should the Igbo follow?

Ali versus Senate: The way forward, By Bernard...

FAAN officials avert fire at Lagos airport

Petroleum marketers, truck drivers shut down Rainoil depot...

Lagos shuts 24 religious outfits for violating noise...

Rivers terminates contracts of 2 waste service providers,...

US LAWYER storms Nigerian Senate over $27 MILLION...

 

Latest News KONGA ME: A new universal language If President Buhari were a patriot…, By Benjamin Obiajulu Aduba Senate versus IGP: Stop this unnecessary show of shame, By Bernard Balogun Catholic priest infected with Ebola Biafra Day: Intimidation won’t stop us — Zionists Human rights lawyer seeks prosecution of killers of Benue Priests •Makes case for Leah Sharibu Lagos moves to resolve online shopping complaints Herdsmen kill 9 in Taraba, Benue $16bn Power Project: Make your findings public, anti-graft network tells Buhari ‘7 wells drilled in Bida Basin show signs of oil’ Army seeks partnership with EFCC to battle economic criminals MOSOP condemns Shell’s resurgence in Ogoniland

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (345,784 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (342,645 views) Shameless Genevieve Nnaji exposes breasts in public (273,899 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (225,198 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (205,508 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (203,247 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (177,337 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (159,593 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,509 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (143,855 views) Lagos plane crash: Journalist releases victims’ names (140,294 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,703 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (42) Business & Economy (3,160) Business Verdict (43) Columnists (857) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (498) Features (598) Global Business Monitor (275) International (1,972) Interview (149) Live Commentary (28) Love Matters (120) News (35,594) Opinion (973) Pidgin (10) Politics (5,063) Religion (745) Sports (1,517) Stock Watch (29) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement