FG asks international community to simplify process of recovering looted assets

 

Abubakar Malami, attorney-general of the federation, says the country needs the cooperation of the international community to facilitate the recovery of looted assets.

While delivering a virtual address at the 14th United Nations crime congress, Malami called on the international community to assist the country to facilitate the recovery of stolen assets.

 

The attorney-general said Nigeria needs assistance in the tracing of proceeds of corruption stashed abroad.

 

“There is the need for the international community to demonstrate political will in removing all barriers and obstacles to the full implementation of the provisions of United Nations Convention Against Corruption (UNCAC) particularly Article 51 on Asset Recovery and Return, including cases that make use of settlements or other non-trial resolutions,” Malami was quoted as saying.

 

“Our major objective should be to narrow the gap between confiscated assets and actual assets returned to their legitimate owners.”

 

Malami noted that the country condemns cybercrimes and all manifestations of terrorism, adding that there is a need for cooperation to combat the threat posed by terrorism.

 

“Nigeria condemns cybercrimes and terrorism in all manifestations and calls on states to strengthen cooperation at all levels to combat the threat posed by terrorism,” he said.

 

“This can be achieved through enhancement of timely information sharing, logistical support and capacity-building activities to affected states.

 

“Combating the linkage between terrorism and corruption, illicit financial flows, cybercrime and trafficking in drugs.”

 

On Tuesday, the UK pledged to return £4.2 million loot recovered from James Ibori, former governor of Delta state, and his associates.