Tag Archives: Stolen Funds

British Govt Will Return Stolen Fund To Nigeria – Envoy

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The British High Commissioner to Nigeria, Mr. Paul Awkright has pledged the readiness of his home Government to repatriate stolen fund stashed in British Bank to Nigeria.

 

 

Briefing newsmen in Kano Wednesday, the envoy said that ‘what is of utmost concern to British government is how the repatriated funds will be utilized’, adding that ‘it is the hope of British government that the funds will be used on the execution of development projects. ‘

 

 

The envoy disclosed that British government is mulling the idea of hosting an international summits on corruption which president Buhari will be invited, as he added that the summit is poised to deliberate on disturbing spate of corruption in the corridor of power.

 

 

The High commissioner noted that for corruption to be rooted out in Nigeria, there was a compelling need for institutional change in all spheres of human endeavour, as he further expressed optimism that with President Muhammad Buhari in the saddle of power, Nigeria is on the right track.

 

 

Mr. Paul Awkright said “British is committed to helping Nigeria increase its security, stability and prosperity”.

 

 

“We would continue to provide capacity building, technical and investigative support to Nigeria to tackle corruption”.

 

 

He said “we are working with President Buhari to ensure the success of the fight against corruption and British will continue to support the administration to ensure free corrupt society in Nigeria”.

 

 

Commenting on insurgency, the British High Commissioner reaffirmed that the British government will redouble its support to train the Nigerian military to fight insurgency.

 

 

Awkright further revealed that the British government is also willing to support children in the northern eastern part of the country to pursue a qualitative academic career in the face of insurgency that had abysmally devastated the region affirming that the DFID programs were geared towards that direction.

 

 

Credit : Vanguard

Why We Are Yet To Disclose Details Of Corrupt Officials Returning Stolen Funds- Buhari

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President Muhammadu Buhari on Friday explained why his administration was yet to release names of corrupt former officials of the past administration who voluntarily surrendered their loot.

Speaking in Abuja at this year’s edition of the annual Osigwe Anyiam-Osigwe Foundation Lecture, President Buhari said “any disclosure now may jeopardize the possibility of bigger recoveries”.

Mr. Buhari said, “As I stated recently, a good number of people who abused their positions are voluntarily returning the illicit funds. I have heard it said that we should disclose the names of the people, and the amount returned.

“Yes, in due course, the Central Bank of Nigeria will make information available to the public on the surrendered funds, but I must remark that it is yet early days, and any disclosure now may jeopardize the possibility of bigger recoveries.

“But we owe Nigerians adequate information, and it shall come in due course. It is part of the collective effort to change our land from the bastion of corruption it currently is, to a place of probity and transparency.”

Credit: PremiumTimes

EFCC Vows To Recover All Stolen Public Funds

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The Economic and Financial crimes Commission (EFCC) has vowed to recover all public funds siphoned under the guise of arms procurement by prominent Nigerians now in its custody.

The commission’s acting chairman, Ibrahim Magu, who gave this hint at events to mark this year’s international anti-corruption day in Abuja, said his men were working hard to recover the stolen funds, even as he disclosed that substantial amount of money had been recovered from fraudsters.

“I can assure you that the commission is on top of that investigation. We will spare no effort to ensure that we recover every kobo of public funds that have been stolen in the guise of arms procurement and the culprits brought to justice,” he said.

Magu, who declared at a seminar organized by the Inter-Agency Task Team, a common platform for anticorruption and accountability in the country, disclosed that the commission had secured 78 convictions from 280 cases filed in court this year, while 1,881 cases were investigated.

Besides, he said several interim and final forfeiture orders were given by courts even as funds were being recovered.

Credit: DailyTimes

Looters Now Returning Stolen Funds- Buhari

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President Muhammadu Buhari in Tehran, Iran on Tuesday disclosed that many of the those who looted the public treasuries in the government of former President Goodluck Jonathan had started returning stolen funds to the coffers.

He said that though the government appreciated the development, it was still not enough to condone corruption, stressing that his government would,still prosecute them in due course.

He stated that the prosecution of suspects is taking time because the government is painstakingly gathering hard evidence against them.

President who spoke during a meeting with the Nigerian community in Iran decried the constraints inherent in democracy, recalling that it was easier for him as a military Head of State in 1985 to arrest corrupt individuals and put in protective custody for them to prove their innocence than in the present democratic practice.

He acknowledged that under the rule of law, the suspects are presumed innocent until convicted by the law.

He said: “On corruption; yes, they are still innocent. But, we are collecting documents and some of them have started voluntarily returning something. But we want all.

“When we get those documents we will formally charge them to court and then we will tell Nigerians to know those who abused trust when they are entrusted with public funds. So, the day of reckoning is gradually approaching.”

Credit: Vanguard

Lamorde Urges Western Nations To Reject & Return Stolen Funds

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Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Lamorde, has asked countries keeping Nigeria’s stolen wealth to quickly reject and return the funds so as to prove their rejection of corruption.

Lamorde threw the challenge Monday when he hosted the leadership of Amnesty International, an international human rights advocacy, who met with him in Abuja.

The chairman claimed that the funds being stolen and stashed abroad by corruption officials in Nigeria, was preventing the country from providing basic services to the people thereby adding to the poverty level in the land.

He described corruption and impunity as the worst form of human rights abuse, which AI must help to end to move society forward.

Lamorde said: ‘‘Western countries must end the impoverisation of developing countries. They must reject and return stolen funds, so that respective governments of the affected developing countries could use the money to better the lives of the poor in their countries.

“It is the common wealth of the people that has been diverted for private use. So, it is the worst form of human rights abuse. When corruption and impunity become the order of the day, human rights abuses flourish.

‘‘When you consider the cause of water-borne diseases suffered by people in rural areas, it is because someone has diverted the funds meant for pipe borne water in those areas.

“Also, when you consider the fact that our hospitals lack the basic amenities, it is because some people have kept the funds allocated to the hospitals to themselves…”

Read More: vanguardngr

Group Urges PMB To Grant Amnesty For Public Officials Who Return Stolen Funds

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A Non-Governmental Organization known as Initiative for Mass Action Against Corruption (IMEAC), has urged the President Muhammadu Buhari-led  Federal Government to consider granting of amnesty to corrupt public officers who willingly return stolen public funds in their possession.

According to the group, the federal government should pardon officials who willingly confess past misdeeds and volunteer to return any illegal gains from such acts, in order to earn the confidence of those who may be scared of confessing such crimes  due to fear of prosecution.

Read More: channelstv

Buhari May Free Looters Who Return Stolen Funds

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The loot recovery efforts of the Federal Government may soon take a new dimension as there are strong indications that President Muhammadu Buhari may grant amnesty to treasury looters to encourage them return stolen billions kept abroad and in Nigeria.

A credible source said in Kaduna that Buhari might opt for amnesty option to fast track the recovery of looted national treasury to enable him fulfill his campaign promises, which will involve trillions of naira.

Reports gathered say that the amnesty option would serve as the soft side of the loot recovery strategy otherwise referred to as a “carrot and stick approach.”

While the carrot approach will be for soft looters, who may be willing to return their looted share to the federal government treasury without arrest and charges, the stick stance would be for hardened ones who, may head to court to protect their ill-gotten wealth.

Read More: nationalmirroronline

We Are Identifying Banks, Countries Where Stolen Funds Were Lodged, Says Buhari

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Speaking at an audience with visiting United States Congressmen at the presidential villa, Abuja, Mr. Buhari acknowledged the support and cooperation given his administration by the international community in gathering all required intelligence for tracing and recovering stolen national resources.

“We are getting cooperation from the international community, including information on ships that take crude oil from Nigeria and change direction, or pour their contents into other ships mid-stream,” he said.

“Some monies were paid to individual accounts. We are identifying the financial institutions and countries that are involved.

“I have been assured that when we get all our documents together, the United States and other countries will treat our case with sympathy,’’ the president told the Congressmen led by Darrel Issa.

President Buhari also told the lawmakers that his administration will encourage more regular meetings of the Nigeria-United States Bi-National Commission.

He said the commission could serve as a more useful platform for the promotion of bilateral trade and economic relations as well as joint cooperation in the war against terrorism.

Mr. Darrel assured President Buhari that the United States will support Nigeria against Boko Haram by providing training, intelligence and military platforms.

“We look forward to helping you in many ways to end the Boko Haram insurgency and the theft of crude oil in the Gulf of Guinea,’’ he said.

Credit: NAN

President Buhari Says The US And Others Will Assist Nigeria Recover Stolen Funds

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President Muhammadu Buhari on Tuesday said his administration had received firm assurance from the United States and other countries recover and return funds stolen from Nigeria.
According to a statement by the President’s Special Adviser on Media and Publicity, Mr. Femi Adesina, the President said it was now up to Nigeria to provide the international community with the facts and figures needed to drive the recovery effort.
He said:

“In the next three months, our administration will be busy getting those facts and the figures to help us recover our stolen funds in foreign countries,” Adesina quoted the President as saying.

The president made this statement to members of the Northern Traditional Rulers Council led by the Sultan of Sokoto, Alhaji Sa’ad Abubakar III, at the Presidential Villa, Abuja.

Citing the report submitted by the Ahmed Joda-led transition committee, President Buhari said that several revenue-generating institutions in the country had been compromised.
In regards to insecurity, the President said traditional rulers would play a key role in stemming terrorism and insurgency in the country.
This, he said, they would do by assisting the government with cost-effective intelligence gathering.
Buhari also assured the traditional rulers that his administration was working hard to end insecurity and terrorism in the country in the shortest possible time with the cooperation of neighbouring countries and the international community.
Acknowledging that Nigerians expected a lot from his administration, the President appealed for patience and understanding while his government works diligently to speedily overcome the huge national challenges it inherited.
The Sultan had earlier presented the Northern Traditional Rulers’ recommendations to the President on issues related to national development.

Return Stolen Funds & Get Pardon, Buhari To Corrupt Officials

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Nigeria’s President elect may likely grant amnesty to corrupt politicians but they will have to first return any stolen money in their possession. This was made known by  former governor of Ekiti state and Head of Policy, Research & Strategy, Buhari Campaign, Dr. Kayode Fayemi.
According to the ex-governor, Buhari’s promise to extend hands of friendship to everybody  does not mean that he would not prosecute corrupt government officials who served in the President Goodluck Jonathan administration. Kayode was speaking during a programme on BBC titled, HardTalk were he said the APC government would use all means to ensure that justice and fairness were established.
“Corruption is not going to be dealt with by punishment alone. It is also going to be dealt with by incentives to those who are prepared to have a conversion. If you come voluntarily and say, look, I have stolen some money and I am prepared to return the money, Gen. Buhari would not say no to that.”
“Returning the funds is a form of justice to Nigeria because those funds will now be available for the teeming population. There would be a range of options for dealing with corruption but that does not mean that justice will not take its full course.
“Buhari said he would not interfere with the judicial process and that if anyone is found guilty of malfeasance or corruption then that the law would take its course. Buhari didn’t mention any individual but anyone who is found guilty or who behaved badly in terms of corruption would be brought to face the law.”
Credit: newsround24