Nigeria, UK sign MoU on repatriation of stolen assets

Nigeria, UK sign MoU on repatriation of stolen assets
United Bank for Africa

The governments of the United Kingdom and Nigeria on Tuesday signed a Memorandum of Understanding (MoU) to fast track the repatriation of all stolen assets to the country.

The UK government during the signing of the agreement reaffirmed its commitment to recovering and returning the stolen assets to Nigeria.

The Minister of State for Immigration of the United Kingdom, Mr Robert Goodwill, while addressing journalists in Abuja says returning the funds to Nigeria will send a clear message to all who may seek to harbour stolen assets overseas that there is ‘no safe haven’ in the United Kingdom.

Goodwill, announced that 40 jurisdictions including British Overseas Territories would share beneficial ownership information relating to companies, trusts and foundations in order to expose owners of stolen assets.

The Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, who signed the agreement on behalf of the Federal Government of Nigeria assured Nigerians that returned assets would not be misappropriated again.

Efforts of the current administration of Muhammadu Buhari to recover Nigeria’s assets stolen and taken to the UK were heightened at the anti-corruption summit held in London where the President made an emphatic call for the funds to be returned to the oil rich nation.

Buhari told the summit that he was more interested in repatriating Nigeria’s stolen assets than any apology from British Prime Minister, David Cameron, following sour remarks ahead of the Anti-Corruption Summit.