UNGA74: ‘We've Recovered Millions Of Dollars Stolen From Nigeria’ - Buhari To UN

President Muhammadu Buhari on Thursday in New York, told world leaders that his administration had recovered millions of dollars stolen from Nigeria.

President Buhari disclosed this on the sidelines of ongoing 74th Session of the United Nations General Assembly (UNGA74) in the United States.

According to a statement released by the President's Spokesman, Femi Adesina on his Facebook page, Buhari spoke on “Promotion of International Cooperation to Combat Illicit Financial Flows”, an event organized by AUDA-NEPAD in conjunction with the EFCC.

“President Buhari presented a keynote address, which was supported by President Edgar Lungu of Zambia, and President of Ethiopia, Sahlework Zewede. President of UNGA 74, Professor Tijjani Muhammad-Bande, was also there, as well as key figures from round the world”, he said.

In his keynote address, Buhari lamented the evil that corruption was doing to Africa. Quoting from the 2014 Global Financial Integrity Report, the president noted that Nigeria alone lost minimum of $157.5 billion between 2003-2012, adding that such massive loss of assets resulted in dearth of resources “to fund public services or to alleviate poverty,” in the country.

According to him, “This is why, as Africans, we have no choice but to break the back of corruption...That is why our government has made it a war we intend to win. We will give all it takes to ensure there is no hiding place for purveyors of corrupt practices who are truly enemies of the people.”

Stressing the need to strengthen good practices on asset recovery and return, President Buhari said that, “In the last five years, our government has made significant progress to curb corruption,” adding: “We have recovered millions of dollars stolen from our country.”

On his part, Acting Chairman of the EFCC, Ibrahim Magu, said, “There should be understanding, there should be collaboration, there should be repatriation; send it [Africa’s stolen wealth] back to the victim countries.”

http://igberetvnews.com/1025071/weve-recovered-millions-dollars-stolen-nigeria-buhari-un/

Lalasticlala, Mynd44, OAM4J

Lalasticlala

Mynd44

Seun

It is typical of underdeveloped economies that they do not (or are not allowed to) concentrate on those sectors of the economy which in turn will generate growth and raise production to a new level altogether, and there are very few ties between one sector and another so that (say) agriculture and industry could react beneficially on each other.
Furthermore, whatever savings are made within the economy are mainly sent abroad or are frittered away in consumption rather than being redirected to productive purposes. Much of the national income which remains within the country goes to pay individuals who are not directly involved in producing wealth but only in rendering auxiliary services-civil servants, merchants, soldiers, entertainers, etc. What aggravates the situation is that more people are employed in those jobs than are really necessary to give efficient service; and to crown it all these people do not reinvest in agriculture or industry. They squander the wealth created by the peasants and workers by purchasing cars, whisky and perfume.

Excerpt: How British Underdeveloped Africa
Get the pdf it’s a must read for every African.

But your present administration is the most corrupt and looting at its worst in the history of this shiithole..