The Attorney-General of the
Federation, AGF, and Minister of Justice Abubakar Malami, has revealed that the
Nigerian Government has concluded plans to sign a Memorandum of Understanding,
MOU, with the Switzerland Government for the release of another USD 321 million
recovered from the late Abacha family.
Malami spoke at a preparatory
meeting of the Global Forum on Asset Recovery, GFAR, which held in Abuja on the
26th of October.
According to the AGF, a key
component of the MOU was focused on meeting Nigeria’s obligation on transparent
management of returned assets.
He also confirmed that civil
society groups working in the area of asset recovery were involved in the
negotiation of the MOU and will be involved in monitoring the assets to ensure
that the returned funds are managed in a transparent manner.
The Minister also stated that the
government is committed to support the transparent return of assets while
urging international partners to improve the procedure for the safe and speedy
return of stolen assets as provided under the United Nations Convention Against
Corruption, UNCAC.
It will be recalled that the
Nigerian government signed unto the Open Government Partnership (OGP) in July
2016 in a National Action Plan, NAP.
Under the OGP, Nigeria committed to
strengthen the country’s asset recovery legislations including a non-conviction
based confiscation powers and the introduction of unexplained wealth orders.
Furthermore, the Attorney General
stated that the Federal Executive Council, FEC, approved a National
Anti-Corruption Strategy (NACS) for Nigeria.
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