Nigerian President Bola Tinubu on Tuesday vowed that his administration would ensure that all stolen funds and assets belonging to the West African country would be recovered in the fight against corruption.
In a speech delivered on his behalf by Nadungu Gagare, a permanent secretary of political and economic affairs, at the opening of a National Summit on Asset Recovery in Abuja, the Nigerian capital, Tinubu said asset recovery is a vital tool in the country’s anti-corruption strategy which has become not merely a legal exercise but a moral obligation.
“Recovering stolen public funds and channeling them toward development represents justice and restitution. It is about restoring the people’s trust and ensuring that every penny of our national wealth works for the common good,” the speech read, quoting the Nigerian leader.
He said the government has prioritized using recovered assets to finance critical infrastructure in the country, even though the challenge has proved difficult.
“Asset recovery sends a clear and unwavering message that there will be no haven for corruption in Nigeria and it served as a deterrent, a symbol of accountability, and a practical tool to rebuild national confidence in public institutions. I would like to reassure you that my administration is committed to aggressively pursuing the recovery of stolen assets, ensuring that every looted fund is returned to the Nigerian people,” he said, pledging to continue to take deliberate steps to strengthen anti-corruption institutions and policies in the fight against corruption.
In 2024 alone, Nigeria’s two anti-graft agencies, the Economic and Financial Crimes Commission and the Independent Corrupt Practices Commission, at different times reclaimed over 105 million U.S. dollars, 248 billion nairas (over 156.5 million dollars), and 753 duplexes, as well as 966,900 dollars and 29.6 billion nairas (over 18.7 million dollars), respectively, in their assets recovery efforts, Lateef Fagbemi, the country’s Minister of Justice and Attorney-General of the Federation, said at the summit.
“Nigeria has successfully repatriated significant funds from abroad, reinforcing our commitment to financial accountability,” Fagbemi added. Enditem
Source: Xinhua
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