Fidelity bank card banner Camano banner
Nigeria, UK sign agreement on stolen assets

By News Express on 31/08/2016

Views: 1,472


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

 

 

CLASSIFIED ADS

 

You may also like...
Don't bow to pressure to rig supplementary polls,...

Baby with brain tumor recovers miraculously after kiss...

2019: 60 Yoruba groups give conditions to presidential...

Kano youths kick against pension for former governors...

Oduahgate: Taxpayers demand return of armoured cars

12 killed as robbers raid banks in Edo...

Ganduje makes two appointments

2016 Budget: Borrowed funds to be used to...

Senate summons Customs boss over rice importation

Anambra Central: INEC chairman risks jail over rejection...

Breaking News: KIDNAPPED ELDER STATESMAN ALI MONGUNO RELEASED...

Amnesty to FG: Make report on probe into...

 

Latest News Herdsmen: Ohanaeze youths declare state of emergency in South-East •Task state governors 3 Nigerians, 4 others arrested for hacking into 2,000 accounts in India Soldier, 2 NSCDC personnel killed in Ogoni by cultists, illegal oil bunkerers Face-off: Bode George should shut up, leave PDP — Jimi Agbaje 6 suspected telecom mast vandals nabbed in Rivers Ikpeazu appoints Transition Chairmen, deputies for Abia councils NYSC to communicate payment of new N30,000 allowance to corps members Leadership failure Nigeria’s biggest problem — Obi Police begin investigation of abduction, attack in Enugu 20 per cent of teachers in Bauchi State payroll are ghost workers — Gov Project cost: FG to stop outsourcing foreign professionals Appeal Court upholds Ihedioha’s election as Imo Governor

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (494,220 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (425,362 views) Shameless Genevieve Nnaji exposes breasts in public (365,117 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (311,764 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (276,078 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (243,909 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (233,832 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (215,750 views) 10 cars more expensive than Jets (212,425 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (204,331 views) Lagos plane crash: Journalist releases victims’ names (184,431 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (183,773 views)

 

NNPC Financial reports February 2019

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (93) Business & Economy (4,308) Business Verdict (73) Columnists (1,051) Complaints & Requests (95) Enterprise & Opportunities (209) Entertainment (623) Features (761) Global Business Monitor (378) ICT Monitor (53) International (3,592) Interview (184) Live Commentary (30) Love Matters (162) Maggie's Blog (302) News (47,416) Opinion (1,260) Pidgin (17) Politics (11,023) Religion (1,022) Sports (2,043) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera