Tuesday, August 30, 2016

Nigeria, UK Sign MoU On Return Of Stolen Assets

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.