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● Presents the central database of dedicated resources
Tuesday the federal government revealed that funds sacked for a total of $ 967.5 billion and N277 billion had been recovered in cash and activities.
The Prosecutor General of the Federation and the Minister of Justice, Prince Lateef Fagbemi, San, said that the recovery was made only in 2024.
According to him, while the commission for economic and financial crimes, the EFCC, has recovered over N248 billion, $ 105 million and 753 Duplex in its patrimonial recovery efforts, on the other hand, independent corrupt practices and other related crimes commissions, ICPC, have recovered N29,685 billion liquidity and $ 96,900 in asset.
The AGF made the disclosure to the recovery summit of the activities organized by the Ministry of Justice in Abuja, where the national central database of dedicated activities was presented.
He said that the National Drug Law Enforcement Agency, Ndlea, has equally intensified its efforts in grasping activities related to drugs related to drugs, ensuring that illegal proceeds have not fueled further criminal activities.
“The recovery of activities is a fundamental pillar in our collective struggle against corruption, the economic crimes and illicit financial flows that undermine our national development, since it acts as a deterrent and also deprives the criminals of the benefit of their criminal act.
“The federal government of Nigeria has remained resolved in the pursuit of transparency, responsibility and the rule of law, recognizing that the actual recovery and management of activities are crucial to restore public trust and promote sustainable economic growth.
“Nigeria has successfully repatriated significant funds from abroad, strengthening our commitment to financial responsibility,” said AGF.
As for the international recovery and the repatriation of activities, the AGF has declared the Ministry of Justice since 2017, working in collaboration with its counterparties and international partners, has facilitated the execution of various agreements, leading to the payment of fines, recovery and repatriation of the activities of $ 763,734,000 USD and £ 6,472.610 GBP.
“Of these sums, for a total of $ 102.88 million and £ 2, 062,000 GBP (Galactic asset $ 52.88 million, Glencore has fined $ 50 million, Useni/Miner GBP 2.062.000) was recovered from 2024 to today.
“However, discussions and negotiations are still in progress and outstanding as regards some other activities located in the open sea, in order to finalize their decline and/or repatriation in Nigeria.
“From 2017 to 2024 USD 659,900,000 and GBP 6,472,610 of recovered funds have been invested in the transfer of Conditional Cassa and to financially finance the development of critical infrastructures in the projects of the development fund of the presidential infrastructures (PIDF) Namamely-The Lagos Ibadan Expressway (Lie), 2nd bridge (2nb) and Abuja-Aka Rast (Aka Rabat.
“Part of the repatriated activities in question was also intended for the renewal of the primary health centers selected in the State of Bayelsa, the supply of renewable energy as part of the rural electrification project and the development of the rule of law and the anti -terrorism project.
“The Federal Government has implemented rigorous measures to ensure that repatriated funds are used transparently and responsible.
“These funds are managed through internationally recognized framework, including the United Nations Convention against Corruption (UNCAC) and the Global Forum on Asset Recovery (GFAR).
“Regular audits and public dissemination will continue to be conducted to maintain integrity in the asset management.
“It is in line with the promotion of transparency and responsibility for the state and management of recovered/repatriated activities, which has been established and developed the National Central Database of activities dedicated to the Crime Management System (automated standardized for the management of automatic activities).
“All the relevant organizations listed under little are requested on a monthly basis, to populate the central national database with the registers of the activities dedicated pursuant to their competence,” added AGF.
In the meantime, the president Bola Tinubu, who was represented to the event by the permanent secretary, to policies and economic affairs, the office of the secretary of the Federation, Nadungu Gagare, supported the use of digital tools to improve the process of tracking resources and recovery.
“The challenges that precede us are significant, but also our determination. We must act decisively, with courage and unit of purpose, to effectively face corruption and deprive the criminals of the proceeds of their crimes. In this way, we can guarantee that the wealth of our nation is used for the benefit of our people.
“I would like to reassure you all that my administration is committed to aggressively pursuing the recovery of stolen activities, ensuring that each looted fund is returned to the Nigerian people.
“Our government will take deliberated measures to strengthen institutions and anti -corruption policies in the fight against corruption, impose transparency and responsibility and believe the authors responsible for their actions and ensure that justice is served, regardless of which ox is bored”, added President Tinubu.
In his welcome observations, the Prosecutor General of the Federation and the Permanent Secretary of the Ministry of Justice, Mrs. Beatrice Jedy-Agba, stressed that the purpose of recovering the activities would have been defeated if the repatriated funds were poorly managed or allocated improperly.
“Transparency must therefore constitute the milestone of our efforts. Citizens have the right to know how recovered activities are used and we must establish reliable mechanisms for public relationships and supervision.
“By institutionalizing the clear framework of use of resources, we prevent embezzlement and guarantee that the recovered funds will serve the interests of national progress,” he added. [Vanguard]
