Why Nigeria is facing hurdles on retrieval of looted funds, by Saraki

* Senate President blames anti-graft
agencies

SENATE President Bukola Saraki yesterday blamed anti-graft
agencies for Nigeria’s inability to convince other countries to
return looted funds.

Dr. Saraki, who spoke at a one-day strategic retreat on tackling
the progress of anti-corruption bills in National Assembly, alleged
that some recovered assets were cornered by officials of
anti-corruption bodies.

The Senate President, who was represented at the event by the
Deputy Senate Leader, Senator Bala Ibn Na’Allah, said: “Nigeria is
finding it difficult to convince other nations to return funds
looted from our treasury because of other nations’ exasperation
over the management of returned assets.

“Only recently, Mr. President inaugurated a committee to audit
all assets recovered by various government agencies.

“The National Assembly has been strident about the opacity
shrouding the management of recovered funds, which in many cases
get reported by the agencies that investigated and recovered
them.

“An ad-Hoc Committee of the Senate, which is investigating some
administrative infractions in the executive, has discovered that
many properties recovered from fugitives from the law have not been
accounted for by the investigating agency. This gives global
community great concern about the commitment of Nigeria to the
anti-corruption drive.”

The Chairman, Senate Committee on Anti-Corruption, Chukwuka
Utazi, described Nigeria’s struggle against entrenched corruption
as a global concern.

The Enugu North District senator expressed dissatisfaction with
the suspension of Nigeria from the Egmont Group of Financial
Intelligence Units, especially at a time the the Federal Government
has made anti-corruption one of the country’s cardinal
policies.

Utazi noted that there was no doubt that the suspension has
greatly impeded the government’s anti corruption fight.

He said: ”The suspension activated the immediate shutdown of the
EGMONT secure Web (ESW), against Nigeria with the implication that
Nigeria can no longer exchange sensitive information with about 172
other member countries in order to carry out investigative and
regulatory responsibilities as they affect local and international
bothering on money laundering, terrorism financing.

“These are dreadful consequences on sharing criminal
intelligence and financial information bothering on money
laundering, terrorism financing, proliferation of arms, corruption,
financial crimes, economic crimes and such like offences geared
towards the support of local and international investigations,
prosecution and asset recovery.”

The Director of Africa Network for Environment & Economic
Justice (ANEEJ), Rev. David Ugolor, said the Swiss government was
at the final stage of returning $321 million to Nigeria from the
Abacha’s loot.

He hailed the government for making sure that the country got
back the Abacha loot.

* Senate President blames anti-graft
agencies

SENATE President Bukola Saraki yesterday blamed anti-graft
agencies for Nigeria’s inability to convince other countries to
return looted funds.

Dr. Saraki, who spoke at a one-day strategic retreat on tackling
the progress of anti-corruption bills in National Assembly, alleged
that some recovered assets were cornered by officials of
anti-corruption bodies.

The Senate President, who was represented at the event by the
Deputy Senate Leader, Senator Bala Ibn Na’Allah, said: “Nigeria is
finding it difficult to convince other nations to return funds
looted from our treasury because of other nations’ exasperation
over the management of returned assets.

“Only recently, Mr. President inaugurated a committee to audit
all assets recovered by various government agencies.

“The National Assembly has been strident about the opacity
shrouding the management of recovered funds, which in many cases
get reported by the agencies that investigated and recovered
them.

“An ad-Hoc Committee of the Senate, which is investigating some
administrative infractions in the executive, has discovered that
many properties recovered from fugitives from the law have not been
accounted for by the investigating agency. This gives global
community great concern about the commitment of Nigeria to the
anti-corruption drive.”

The Chairman, Senate Committee on Anti-Corruption, Chukwuka
Utazi, described Nigeria’s struggle against entrenched corruption
as a global concern.

The Enugu North District senator expressed dissatisfaction with
the suspension of Nigeria from the Egmont Group of Financial
Intelligence Units, especially at a time the the Federal Government
has made anti-corruption one of the country’s cardinal
policies.

Utazi noted that there was no doubt that the suspension has
greatly impeded the government’s anti corruption fight.

He said: ”The suspension activated the immediate shutdown of the
EGMONT secure Web (ESW), against Nigeria with the implication that
Nigeria can no longer exchange sensitive information with about 172
other member countries in order to carry out investigative and
regulatory responsibilities as they affect local and international
bothering on money laundering, terrorism financing.

“These are dreadful consequences on sharing criminal
intelligence and financial information bothering on money
laundering, terrorism financing, proliferation of arms, corruption,
financial crimes, economic crimes and such like offences geared
towards the support of local and international investigations,
prosecution and asset recovery.”

The Director of Africa Network for Environment & Economic
Justice (ANEEJ), Rev. David Ugolor, said the Swiss government was
at the final stage of returning $321 million to Nigeria from the
Abacha’s loot.

He hailed the government for making sure that the country got
back the Abacha loot.