The President Muhammadu Buhari-led government said the way it is able to recover looted funds is a lesson that will benefit other African countries.
The Nigerian government has boasted that it has recorded successes in the fight against corruption.
The President Muhammadu Buhari-led government said the way it is able to recover looted funds is a lesson that will benefit other African countries.
The Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami said this at a public lecture in New York, US
Speaking at the 2021 public lecture of the Centre for Media and Peace Initiative, Malami said the Buhari Government has been able to make such recoveries through its legislative framework, institutional infrastructure, adoption of effective preventive measures and management of recovered stolen assets.
Malami said in 2017, a trilateral agreement Nigeria signed with Switzerland and World Bank enabled the recovery of $322.5 million.
He noted that also in 2020, $311.7 million was returned to Nigeria following the signing of another agreement with the US and Bailiwick of Jersey.
Another €5.4 million was recovered in March 2021 through an agreement the Nigerian government signed with Northern Ireland, Malami noted.
“The Federal Government was able to recover from the UK the sum of €4,214,017.66 connected to the family of James Ibori.
“Additional recoveries to the tune of $200million are being anticipated subject to the settlement of litigations of which the Ministry of Justice is attending to presently.
“The Buhari’s approach to fighting against corruption has been one of three cardinal pillars of our campaign promises, the others are economic and security development,” he said.