MoU on return of assets signed in
Abuja
LOOTERS who plan to hide their illicit
wealth in Britain will face a hostile
host, with the signing yesterday of a
pact by the two countries.
Britain will facilitate the return of
stolen assets on the condition that:
The Federal Government will
ensure that stolen assets
recovered from both within and
outside the country will be put to
judicious uses; and that
such assets will not be re-looted.
Minister of Justice and Attorney
General of the Federation (AGF)
Abubakar Malami (SAN) signed for
Nigeria. Minister of State for
Immigration Robert Goodwill signed
for Britain. The ceremony was held in
Abuja.
The memorandum of understanding
is specifically on modalities for the
return of stolen assets.
Malami, who praised Britain for its
willingness to cooperate with
Nigeria in recovery and return of
stolen assets, said the Federal
Government will endeavour to
prevent further looting of the
nation’s wealth.


The AGF, who frowned at alleged
moves by some “individuals to use
the process of asset recovery to
create reputational damage for the
government,” said all measures
adopted since he assumed office in
November last year have been
aimed at “effective and efficient
assets recovery.”
He said: “Today, we are determined
to change the narrative, regardless
of who is involved. I want to assure
the international community that all
funds recovered within and outside
Nigeria would be judiciously utilised
for projects that will benefit the
poorest segment of the Nigerian
society as well as enable us support
reform in the justice sector.
“The position of the law in Nigeria
today is that all funds recovered
should be paid directly into the
Consolidated Revenue Account.
Unfortunately, that has not always
been the case under the previous
administration,” he said.
The AGF said the Muhammadu Buhari
administration was committed to
enacting laws, including the
Proceeds of Crime Bill, to strengthen
existing anti-corruption institutions,
prosecution authorities and law
enforcement agencies.
Leader of the UK delegation and UK’s
Minister of State for Immigration,
Robert Goodwill said the signing of
the memorandum was in
furtherance of his country’s promise,
at the last Anti-Corruption summit
held in London in May, to improve
the process of the return of looted
assets.
He said by this gesture, his country’s
government was sending a loud
message to all that the UK was no
longer a safe haven for stolen assets,
including looted funds.
Goodwill, who was silent on the
worth of Nigeria’s looted assets
currently in his country, said the UK
government was “committed to
return all funds looted from the
Nigerian State and we are keen to do
this as soon as the necessary
procedures allow.”
He said aside the UK, 40 other
jurisdictions, including British
Overseas Territories and Crown
Dependencies are willing to
automatically share beneficial
ownership information relating to
companies, trusts, foundations, she’ll
companies and other relevant
entities and legal arrangements.
Goodwill, a Member of Parliament
(MP), said: “This MoU provides the
mechanism by which monies can be
returned. Our ability to recover and
return stolen assets should send a
clear message to all, who may seek
to harbour such assets overseas, that
there is no safe haven in the UK.”
The UK has been returning frozen
Nigerian cash stashed away in their
country.
Money seized from former Bayelsa
State Governor tehe late Diepreiye
Alamieyeseigha and former Plateau
State Governor Joshua Dariye and
former Delta State Governor James
Ibori, who is serving a jail term in
Britain following money laundering
conviction, has been released to the
federal government.
A former Minister of Petroleum
Resources Mrs Diezani Alison-
Madueke is being investigated for
money laundering in the UK.
Britain has returned to Nigeria
250,000 pounds – the cash seized
from the senator- during his arrest,
when Acting British High
Commissioner to Nigeria James
Tansley, handed over two cheques
totalling more than $250,000
(£126,000, 29.3m naira).
A further $2.8m of his assets have
been frozen by a court order and are
awaiting repatriation to Nigeria.
In all, Mr Dariye faces charges of
stealing some $128m from Plateau
State during his tenure as governor
from 1999-2007.
One cheque for $2m belonging to
the late Alamieyeseigha has already
been returned to Nigeria.



http://thenationonlineng.net/nigeria-britain-join-forces-treasury-looters/

Ok.
Let us keep hope alive!