Fidelity bank banner UBA banner
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: 1,305


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

 

You may also like...
APC primaries: Ajimobi clinches Oyo South Senatorial ticket...

NASS passes NFIU Bill to forestall Nigeria’s expulsion...

US condemns Borno massacre, reassures Nigeria of support...

Kwara LG to register foreign herdsmen

Police brokers truce between Fulani herdsmen and farmers...

PDP reschedules National Caucus, BoT, NEC meetings

Kogi Election: Tribunal fixes March 14 for adoption...

Innoson, Nigerian Army seal deal for armoured vehicles,...

Stop extorting money from innocent Igbo traders, Okorocha...

Nigeria escapes FIFA ban

Rape, the biggest problem in the Senate: Ben...

Drug Salvation Foundation recruits celebrities, takes anti-drug war...

 

Latest News Kidnappers tie lecturer to tree, shoot him dead after ransom was paid 20,000 APC members defect to PDP in Akwa Ibom N27bn fraud: How EFCC arrested ex-Gov Orji’s son, friend at Abuja night club 2019: We’ll soon decide on Buhari, Atiku — Miyetti Allah Nigerian Army guilty of war crimes: ICC Obiano, Oye must go, says APGA chieftain Court orders trial of Prophet Ayorinde over alleged N118 million dud cheque PDP rejects Kashamu, insists Adebutu is ‘authentic’ Ogun guber candidate FG, ASUU break impasse with partial agreement Magu warns against vote-buying, calls for youth participation in political process 2019: INEC adopts card readers, rules out electronic results transmission Lagos, Osubi airports operate as FAAN suspends shutdown

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (429,523 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (394,598 views) Shameless Genevieve Nnaji exposes breasts in public (327,505 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (280,854 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (247,667 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,171 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (211,973 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,181 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (179,443 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,348 views) Lagos plane crash: Journalist releases victims’ names (167,121 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (153,618 views)

 

Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,872) Business Verdict (54) Columnists (972) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (679) Global Business Monitor (311) International (2,805) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (69) News (41,338) Opinion (1,150) Pidgin (13) Politics (8,112) Religion (911) Sports (1,813) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera