President Muhammadu Buhari on Sunday in Paris, France, called for stringent actions against perpetrators of illicit financial flows.

He warned that continuous impunity will encourage more pilfering of countries’ resources to the detriment of poor and vulnerable populace.

Speaking at the first edition of the Paris Peace Forum, held on the sidelines of the Centenary of Armistice Day, President Buhari said Nigeria had strengthened its laws and institutions to fight corruption, fast-track recovery of stolen assets and punish offenders, urging more commitment from governments and international institutions.

The President delivered his statement on “Illicit Financial Flows (Iffs) and Corruption: The Challenge of Global Governance’’ during the event, attended by about 70 world leaders and governments.

“We must crack down on safe havens for corrupt assets. I also advocate sanctions by professional bodies against transactional middlemen (lawyers, bankers, brokers, public officials, etc.) who facilitate Illicit Financial Flows.

“I would like to reiterate that the Government of Nigeria remains open and is ever willing to continue to identify and share experiences and strategies to give life to the ideas that will lead to winning the fight against corruption,’’ the President said.

He noted that illicit financial flows pose a risk to the realisation of the Sustainable Development Goals (SDGs) as many countries grapple with the challenge of gathering resources to improve their Human Development Index, while a few privileged individuals continue to explore the weaknesses in financial systems.

“Our experience in Nigeria is that financial crimes, such as corruption and fraudulent activities, generate enormous unlawful profits which often prove so lucrative that the threat of a jail term is not sufficient to deter perpetrators.

“A more powerful deterrent is to ensure that profits and assets generated from illicit financial flows and corruption are recovered and returned to countries of origin.

“This is not to under-estimate the value of strong institutions. It only indicates that asset recovery represents significant deterrence compared to the traditional focus on obtaining conviction by the law enforcement agencies of the countries of origin,’’ Buhari said.

The president explained that tremendous progress had been achieved through the enactment of global instruments, noting that some fundamental technical issues remain unresolved.

“These revolve around the formulation of policy and regulatory frameworks that cut across different jurisdictions. We must not lose sight of the role played by secret companies, banks and law firms, all too often based in developed economies and their related offshore centres.

“Recent studies reveal that flaws in the global financial system enable corrupt individuals to hide details of their financial dealings under the noses of governments and law enforcement agencies. This underscores the need to urgently address the issue of Mutual Legal Assistance, as well as continental legal frameworks, in the context of safe havens for illicit transfers,’’ he said.

He disclosed that the Whistle-Blowing policy had facilitated recovery of billions of naira from corrupt persons, which had been redirected to the development of critical infrastructure and programmes that will benefit all Nigerians and realisation of the SDGs.
https://softworkconcept..com/2018/11/corruption-what-buhari-said-in-france.html

wawu

madridguy:
As a progressive, am with you Sai Baba. We must kill corruption before it kills our country.

Sai Baba till 2023.

Sai baba
Wailers should go and die

Still the same song
Donald Trump's campaign after 2 years in office
"we have created 250,000 jobs in the last two months, improve border security..."

Buhari campaign after 3 years in office

"we will fight corruption"

most powerful speech ever be buhari

Someone that has not created any institution or idea to fight corruption be jumping from one place to the other shouting corruption, you think there is no corruption in France?

why is the french president not delivering notes on corruption

Dont come back home and strategize on how to fight corruptiion if at all you have anything upstairs

Fighting corruption needs strong institutions, there are more to it than just arrest olisa metuh and start dragging the court processes till eternity

All is hug wash.

See as the embe side hold microphone sef

keep talking

Flattino:
Sai baba Wailers should go and die

keep wailing wailer

I need a job!

They will still cry.

The name "Buhari" is like blended onions under their eyes.

Seems like this man has nothing at all to talk about? In all gathering, he keeps singing corruption corruption corruption, even in a gathering that the theme has nothing to do with corruption.

Mr president, how many of the opposition found guilty of corruption have you jailed? Not to talk of the corrupt element in your party. Our constitution/institutions do not help matters when it comes to prosecution.

Hahahaha, and Atiku want to jail corrupt politicians should he wins the 2019 election. Laughing in Kiswahili

- First of all, you should be marketing your country and not demarketing it.

He disclosed that the Whistle-Blowing policy had facilitated recovery of billions of naira from corrupt persons, which had been redirected to the development of critical infrastructure and programmes that will benefit all Nigerians and realisation of the SDGs.

- EFCC chairman Magu, said he does not even know the figure on recovered funds..

Bla bla bla when your giving every position to northerners and your in France talking about rubbish

Dis guy is exposing himself more and more... U dey hold mic... Buhari never holds mic... He use the one set for him.. Jubrin were is ur waec certificate... That is corruption ... Wat of ganduje? Wat of oshiomole fraud case ? Don't worry very soon d truth is coming out

The one sided corruption fighting is not Fighting Corruption pls!!!!!

U can’t fight corruption by perpetuating corruption urself that is how buhari shot himself in the foot and his corruption war became a Big joke.

madridguy:
As a progressive, am with you Sai Baba. We must kill corruption before it kills our country.

Sai Baba till 2023.

All citizens of NIGERIA are with Mai Gaskiya!

The international communities and leaders like and respect him because they know whats going on and they know he is a man of integrity... Yet some loosers will be in naija shouting jibril. God pass una.

sai baba till 2023

always repeating d same script #lifeless sumbori

Magu was asked by the Senate how much is the loot recovered so far he couldn't come up with a specific figure even till date.

Lolz Mr president God bless you sir.

gandollar nko?

Nice speech but the only way I would take him seriously is if he fights the said corruption without Bias.
Go after everyone that is suspected to be corrupt not only those in the opposition.

Isn't it funny that when any one of these paid asslickers here posts a topic to launder an almost non existent image of their "mai integrity", they notify their comrades first, so they can quickly invade the thread and flood it with their dumb chants of "Sai baboon till $1 equals N1. Sai baboon till Ajegunle becomes California". You lots are so pathetic.


Hope your respective families are aware the shyte you go through everyday online, trying to defend someone who's a damn sight more dumber than you are?

I really think you guys deserve some pity, and a little more raise in your stipends. E no easy at all

This song of corruption is already old. Try something new sir.