TheCable

President Muhammadu Buhari has welcomed a proposal to restrict the ability of those involved in corruption to travel, invest and do business overseas.

Femi Adesina, presidential spokesman, disclosed this in a statement on Thursday, saying Buhari made the pledge at the anti-corruption summit in London.

The statement said the move was in furtherance of his administration’s ongoing war against corruption.

“Nigeria is already collating this information through the extractive industry initiative process and will extend it to other sectors,” the statement read.

“We commit to reviewing penalties and other actions against professional enablers of tax evasion, including for corporations that fail to prevent their employees from facilitating tax evasion.

“We support the development of a global commitment for public country by country reporting on tax information for large multinational enterprises.

“We commit to the strengthening of our asset recovery legislation, including through non-conviction based confiscation powers and the introduction of unexplained wealth orders.

“In order to improve on the current legal procedures and ease asset recovery procedures, we have drafted the Proceeds of Crime Bill which  provides for the transparent management of recovered funds and  assets and  a non-conviction based approach to asset recovery.

“We will work with others countries, civil society, international organisations to support accelerated implementation of the voluntary provisions of the UN Convention Against Corruption (UNCAC) and we commit to the implementation of the outstanding obligations under the UNCAC.

“We support the establishment of an International Anti-Corruption Coordination Center to be managed by National Crimes Agency of Britain. We will work with NCA in promoting this centre in the African region.”