Friday, October 22, 2021
MARKET UPDATE

TheCable

Advertisement

We’ll crack down on those hiding loot in UK, says British high commissioner

We’ll crack down on those hiding loot in UK, says British high commissioner
March 09
15:52 2021

Catriona Laing, British high commissioner to Nigeria, says ill-gotten money is not welcome in the UK.

Advertisement

Laing spoke while signing a memorandum of understanding (MoU) between the UK and Nigeria for the return of the loot recovered from James Ibori, former governor of Delta state.

She said the MoU will ensure the return of over £4.2 million recovered from the associates and family of Ibori to the Nigerian government.

“The return of these assets to Nigeria has been subject to a number of hard-fought legal challenges by third parties which were defeated in the UK courts,” she said.

Advertisement

“We will ensure the full weight of law enforcement to crack down those who use, move or hide their proceed of crime in the UK.”

The high commissioner said transparent asset recovery is a priority for both UK and Nigeria governments.

“It is vital that this agreement makes strong provision for transparency, monitoring and accountability,” she said.

Advertisement

“It is a guiding principle of both UK and Nigerian governments that stolen assets should be used for projects that benefit Nigeria’s poor.”

Abubakar Malami, attorney-general of the federation and minister of justice, said the federal government is committed to ensuring the transparent management of all recovered assets.

“The assets returned will support and assist in expediting the construction of three major infrastructure projects across Nigeria,” Malami said.

“The projects are the Lagos-Ibadan expressway, Abuja – Kano road and the second Niger Bridge that are being executed under the supervision of the Nigerian Sovereign Investment Authority.

Advertisement

“The project will boost economic growth and help alleviate poverty by connecting people and supply chains from the east to the west and to the northern part of Nigeria.”

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment