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UN general assembly: FG working towards recovery of £200m looted funds, says Malami

UN general assembly: FG working towards recovery of £200m looted funds, says Malami
September 22
18:03 2021

Abubakar Malami, attorney-general of the federation, says the federal government is working on the recovery of stolen assets, including £200 million currently stashed in a foreign country.

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The development comes months after the federal government said over $700 million looted funds have been recovered in the past four years.

“Nigeria, through proactive and collaborative efforts with other countries, has recovered and ensured the return of over $700 million from the United States, the United Kingdom, Bailiwick of Jersey, Switzerland, and Ireland in the past four years,” Malami had said in May.

The attorney-general of the federation, while speaking to journalists on Wednesday, on the sidelines of the United Nations General Assembly in New York, said there will also be discussions on reviewing the process for the recovery of stolen funds from foreign countries.

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“As far as the meeting I intend to attend in Washington DC by tomorrow is concerned, we are looking at the possibility of recovering further 200 million pounds, among others. But then, that does not mean there are not other associated assets being pursued, in terms of other countries of the world, inclusive of Ireland,” the AGF said.

“We are pursuing a lot of assets across the globe and then we intend to coordinate further meetings relating to recovery in the United Kingdom, which is associated with certain personalities.

“We are building consensus in terms of driving resolutions, processes and procedures associated with asset recovery.

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“So, while we are pursuing the recovery of the assets in their own right, we are equally trying as much as possible, to see what we can do in terms of building consensus around making the process of asset recovery easier locally and internationally.”

President Muhammadu Buhari had arrived in New York on Sunday, to participate in the ongoing 76th session of the UN General Assembly.

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