America reluctant to return stolen assets to Africa

Although we are headquartered in Washington D.C. USA, our reporters and editors are working around the globe to cover what you care about. We invite you to donate to our fundraiser to help us keep our quality news free and available to all.  

WASHINGTON – America and other western nations are often vociferous in their condemnation of corruption in Africa. However, when it comes to repatriating stolen funds shipped, wired or smuggled to their countries by corrupt African leaders in connivance with western mega thieves, they become reluctant in sending the funds back. They raise legal barriers and use other delay tactics to hold on to the proceeds of corruption while publicly condemning corruption in newspapers and statements as one of the continent’s greatest evils.

The latest case is in Nigeria where billions of dollars remain stashed abroad while foreign countries continue to raise legal barriers to hold on to the cash.

According to the Nigerian acting Chairman, Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, the mountain of difficulties being experienced in the repatriation of stolen assets traced to foreign countries is shockingly unbelievable.

[read_more id="2" more="Read full article" less="Read less"]

“The process of repatriating monies stashed abroad has been very frustrating and disappointing, yet we have done everything possible, gone out of our way to encourage our sister agencies, but cooperation is almost nil,” he said on on July 25, 2019 at the EFCC Head Office, Jabi, Abuja, during a visit by Dr. Joe Abah, Country Director of DAI Nigeria, an international development firm implementing programs covering governance, in more than 100 countries worldwide.

He said: “We have been investigating a number of cases for over four years working with the Federal Bureau of Investigations, National Crimes Agency and even the Crown Prosecution Service, we have done everything possible, gone out of our way to encourage our sister agencies, but except there is a third party involved there is no cooperation.”

While noting that “the Swiss have been more cooperative”, Magu observed that “the others never disclose their findings”, and are “very reluctant to get the proceeds repatriated”.

“We are willing to go outside this country to give evidence, and to share the intelligence that we have,” he stressed.

He further noted that President Muhammadu Buhari has remained unwavering in his vision and mission of ensuring victory in the anti-corruption crusade.

“The next level in the corruption fight is promising, there is political will and we are going to be daring,” he said.

He further noted the importance of inter-agency collaboration between the EFCC, the Independent Corrupt Practices and other Related Fraud Offences Commission, ICPC, the Code of Conduct Bureau, CCB, and the Fiscal Responsibility Commission, FRC, stressing that multi-agency collaboration was key to winning the corruption war.

Noting that the Administration of Criminal Justice Act, ACJA 2015 has been “very helpful”, he opined that “majority of the people in the Judiciary are not doing well, but a few of them are, and we use to have dialogue with them to share our experience, and this has been very helpful”.

He further revealed that from January till date, the EFCC has secured about 550 convictions.

While commending the MacArthur Foundation and the DAI for their support of the anti-corruption crusade in Nigeria, he called for more support for the EFCC in all areas possible.

According to Abah, the visit was part of efforts aimed at further supporting the anti-corruption crusade in Nigeria.

“We recognize the valuable work EFCC is doing to preventing, investigating, prosecuting and combating financial and economic crimes,” he said.

[/read_more]

Simon Ateba
Simon Ateba
Based in Washington, District of Columbia, United States of America, Simon leads a brilliant team of reporters, freelance journalists, analysts, researchers and contributors from around the world to run TODAY NEWS AFRICA as editor-in-chief. Simon Ateba's journalistic experience spans over 10 years and covers many beats, including business and investment, information technology, politics, diplomacy, human rights, science reporting and much more. Write him: simonateba@todaynewsafrica.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

DR Congo rebel commander wanted for multiple crimes still a free man

Congolese authorities have not arrested a rebel commander wanted for multiple crimes under a June 2019 warrant even as his forces have...

Trump says Sudan to be removed from terrorism list if it pays $335 million in compensation

President Donald Trump on Monday said Sudan will be removed from the U.S. list of state sponsors of terrorism once it...

Anxiety in Africa as Johnson & Johnson conceals critical details about COVID-19 vaccine illness

Anxiety continued to mount across Sub-Saharan Africa on Monday over COVID-19 vaccine trials by Johnsons & Johnson, as the company continued...

Rights group urges AU to denounce crackdown on Cameroon’s opposition

Human Rights Watch on Monday urged the African Union (AU), the African Commission on Human and Peoples’ Rights (ACHPR), the Economic...

Mass prison break: Thugs disguised as protesters free over 200 inmates in Nigeria

Thugs disguised as protesters have freed over 200 inmates in Nigeria.The criminals disguised as EndSARS protesters freed...

MOST POPULAR

Damning report finds detainees in Iran were sexually abused and given electric shocks in gruesome post-protest crackdown

Iran’s police, intelligence and security forces, and prison officials have committed, with the complicity of judges and prosecutors, a catalogue of...

Africa shocked U.S. under Trump has worst coronavirus response in the world

President Donald Trump has "failed in his basic duty to protect Americans", world's renowned journalist Bob Woodward told Fox News Sunday...

IMF’s Georgieva says second round of support coming to Africa but Oxfam argues debt cancelation the only way out of COVID-19 turmoil

The Managing Director of the International Monetary Fund (IMF) Ms. Kristalina Georgieva said on Wednesday that the Washington DC-based institution is...

Johnson & Johnson vaccine trial taking place in South Africa halted by participant’s illness

Johnson & Johnson confirmed on Monday that it had paused its COVID-19 vaccine study because one of its participants was taken...

EXCLUSIVE: IMF economist details how COVID-19 economic turmoil in Asia will affect Sub-Saharan Africa

The COVID-19 pandemic is battering economies in Asia with a contraction expected for the first time in many decades. The economic...

DR Congo rebel commander wanted for multiple crimes still a free man

Congolese authorities have not arrested a rebel commander wanted for multiple crimes under a June 2019 warrant even as his forces have continued to carry out summary killings, rapes and sexual slavery, extortion, and forced recruitment of children, Human Rights Watch said on Monday.Congolese judicial authorities on June 7, 2019 issued the warrant for the militia leader, Guidon Shimiray Mwissa (known as Guidon),...

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

Share
WhatsApp
Reddit
Tweet
Share