The Federal Government has signed a Memorandum of Understanding (MoU) with the British Government on the modalities for the return of Nigerian stolen assets. The Attorney-General of the Federation, Mr Abubakar Malami, signed on behalf of the Federal Government in Abuja on Tuesday.

Malami said that the MoU reflected the desire and willingness of both countries to continue cooperation and mutual support. Malami said that this was in the responsible and transparent return of all recovered assets. He outlined the objectives of the MoU to include the fact that the processes of returning stolen assets was a partnership recognising the interest of both countries and based on mutual understanding, confidence and trust.

“That both countries recognised that they have a mutual interest in ensuring that returned assets are not at risk of being misappropriated again. “And that both countries recognised they have obligations toward their own citizens for providing such assurances. “That both countries recognised the importance of ensuring that the highest possible standard of transparency and accountability are applied for the return of assets.” He gave the assurance to the international community that all funds recovered would be judiciously utilised for projects that would benefit the poorest segment of the Nigerian society. 

Earlier, leader of the UK delegation, British Minister of State for Immigration, Robert Goodwill, said that the MoU provided the mechanism by which monies could be returned. Goodwill, who is also a member of the British Parliament, noted that there was no safe place for stolen assets in the UK. “Our ability to recover and return stolen assets should send a clear message to all who may seek to habour such assets that there is no safe haven in the U.K,” he said.

According to him, the British government is committed to the return of all funds looted from the Nigerian State. “We are keen to do this as soon as the necessary legal process allow. “As outlined at the summit, we will be taking steps to accelerate the procedures for identification and confiscation of illegally acquired assets.” He said that they were as committed as Nigeria in ensuring that beneficial ownership of assets was made available to relevant authorities so they know who the real owners of assets held in the UK are.

“Forty jurisdictions, including British Overseas Territories and Crown Dependencies announced that they will automatically share beneficial ownership information relating to companies, trusts, foundations, Shell companies and other relevant entities and legal arrangements. “It is important that everyone can see how returned assets are used to benefit Nigerians.

We have therefore agreed in this MoU to be fully transparent about this.” The signing of the MoU is a follow up to the agreement reached at the London anti-corruption summit in May.

Progressive01:
Awesome!!

Keep it up Baba, we are solidly in your support.

Despite the nature of this news, some folks, soon to arrive, would feel hurt by it.

Oasis007:


When will they start appreciating this Government?!

Power supply is getting stable, and by 2018 might be uninterrupted!

Railway-Lines Contracts have been awarded and works will be completed by 2018!

Many Highways are under Constructions nationwide!

FIRS is generating more revenue for the FG, even surpasses Crude Oil Revenue first Time in the History of Nigeria.

Introduction of TSA exposed some corrupt Ministries and as well boost the National Coffer!

Introduction of BVN also helped to discover ghost Workers across the Country!

Boko-Haram Sect has been crushed and will become a History soon!

Gradually, local Rice is gaining more attention and patronage!

Crocodile just smiles in the Niger Delta Creek and the NDA sharply give up on their selfish Struggles!

The Government is working..... slowly but surely we shall all enjoy the CHANGE we envisage and voted for!

God Bless PMB/PYO
God bless Federal Republic of Nigeria!

IVORY2009:
[s][/s]

Omeka to Progressive1 to Ojukwufrank only u
Trash!

Oasis007:

When will they start appreciating this Government?!
Power supply is getting stable, and by 2018 might be uninterrupted!
Railway-Lines Contracts have been awarded and works will be completed by 2018!
Many Highways are under Constructions nationwide!
FIRS is generating more revenue for the FG, even surpasses Crude Oil Revenue first Time in the History of Nigeria.
Introduction of TSA exposed some corrupt Ministries and as well boost the National Coffer!
Introduction of BVN also helped to discover ghost Workers across the Country!
Boko-Haram Sect has been crushed and will become a History soon!
Gradually, local Rice is gaining more attention and patronage!
Crocodile just smiles in the Niger Delta Creek and the NDA sharply give up on their selfish Struggles!
The Government is working..... slowly but surely we shall all enjoy the CHANGE we envisage and voted for!
God Bless PMB/PYO
God bless Federal Republic of Nigeria!

Adminisher:

Believe me, in our lifetime and before the very eyes of Nigerians, Buhari will bring security, diversify the economy and even bring about the so called restructuring. The shame that will come to PDP supporters will be nothing compared to the pain that a lot of their favourite politicians will also be forced out of the world stage. Nigeria currently has concurrent support of the US, China, Germany, the UK and even Russia. Corruption is being tackled and the only place to go is UP