engineerboat:
The United Kingdom has informed that her position about returning looted funds is that Nigeria cannot be trusted with its money, saying that’s what underpins it poor asset return rate and it has to be addressed.

Philip Hackett, a Queen’s Counsel, said this is the reservations of the UK, when it comes to returning looted funds to Nigeria.

Speaking on the theme: ‘Institutionalising the War against Corruption – New Approaches to Assets Tracing and Recovery’, at the Annual General Conference of the NBA in Abuja on Wednesday, Hackett said the issues with accounting for the funds also contributed to the UK’s hesitation on returning looted funds.


He said: “How much money has been recovered? Practically nothing. Nigeria has recovered so little.

“The UK’s position is that Nigeria cannot be trusted with its money. That’s what underpins it (poor asset return rate), and it has to be addressed.”


The session was chaired by Professor Bolaji Owasanoye, Executive Secretary, Presidential Advisory Committee Against Corruption (PACAC), and featured the presence of Ibrahim Magu, the acting Chairman of the EFCC, who was represented by Chile Okoroma, EFCC’s Director of Legal and Prosecution Department.

In his address, Magu lamented “poor record keeping system”, noting that it is difficult to estimate how much has been looted from the country.

He said: “It is difficult to estimate what Nigeria has lost because we have poor record keeping system.


“Lawyers have been involved in money laundering; laundering of proceeds of crime. When they were asked to register with the Special Control Unit against Money Laundering (SVUML) for regulation, they went to court. NBA said it could regulate itself. But how far has NBA gone in regulating itself? That is the issue.



“I think the NBA Disciplinary Committee should be up and doing. I get embarrassed when NBA descends heavily on lawyers who are not considered to be significant, but they turn a blind eye to what big-time counsels are doing.


“I think they have to do their work without looking at faces, no matter whose ox is gored. That is the only way that we can have confidence and respect for the disciplinary committee.”


http://newsbreakng.com/2018/08/31/buharis-govt-cannot-trusted-looted-funds-returned-u-k/

ican2020:
the international community kowns that this administration is zero when it comes to honesty

Butterflyleo:
Wailers above me are clearly brain dead

The UK are talking about returning LOOTED MONIES from Nigeria which the previous government of PDP looted and now for this FG the UK are talking about returning them.

Compare both.

PDP/ GEJ = looted and stashed in UK

APC/ PMB = looted funds now being returned from UK

The UK is simple trying to be cautious because even for them, the 16 years of PDP mismanaging and looting from Nigeria is hard to forget

This is a new administration and this report by the OP is old because 70 million pounds of looted funds traced to GEJ/ Dan Etete and Diezani malabu scandal has been returned and more loot are coming.

An estimated 650 million pounds of looted money under GEJ will be returned by UK .

Engineerboat do you see the mess your PDP caused to Nigeria?

Jonathan authorized those payments to be made to Malabus private account.

PDP aka looters incorporated!

Almaiga:
If UK are having a second thought about Buhari's Government's Integrity, then I presume they will never release the funds to any Nigerian Government. It is on record that, Baba Buhari is the most credible, Integrity and upright leader, Nigeria has ever had.

CoolAmbience:



The UK must be mad to make this remark.

Can they be trusted not to receive more looted funds in the future?

Mtcheww.

Printerscanner:



But the money was looted in the administration of your lords and personal saviours. Now, tell me, who is crazy? The looters or you their supporters and e-warriors?

Valro:
Haba...is it not our money, are they the ones to tell us how to squander our money. Abegi return the money let's squander, wetin concern me

Valro:
Haba...is it not our money, are they the ones to tell us how to squander our money. Abegi return the money let's squander, wetin concern me