Federal Government of Nigeria, under the leadership of President
Muhamadu Buhari, has established record of people-oriented utilization
of recovered assets and strong commitment to transparency and
accountability through diligent implementation of projects agreed
upon.
Attorney-General of the Federation and Minister of Justice, Abubakar
Malami made this known on Monday as the Federal Republic of Nigeria,
Government of Jersey and United States of America signed a tripartite
agreement on recovery of over $300m looted funds.
This is contained in a statement issued by Dr Umar Jibrilu Gwandu, the
Special Assistant on Media and Public Relations Office of the
Attorney-General of the Federation, made available to newsmen on
Tuesday 4th February,2020.
Malami recalled specifically
the Federal Government’s agreement with Switzerland and the World Bank
with particular reference to the disbursement of the three hundred and
twenty-two million US Dollars ($322million) repatriated from
Switzerland in 2018 under a World Bank monitored social investment
program targeted at poor households.
According to the statement, the Attorney General of the Federation and
Minister of Justice, Abubakar Malami signed the agreement on behalf of
Nigerian government while the Solicitor General and Attorney General
designate of Jersey, Mark Temple QC signed the Agreement on behalf of
Jersey, the Deputy Assistant Attorney Brian Benczkowski announced the
agreement on behalf of the United States.
In his address during the signing, the Attorney General of the
Federation and Minister of Justice, Abubakar Malami said that the
“agreement has culminated in a major victory, for Nigeria and other
African countries as it recognizes that crime does not pay and that it
is important for the international community to seek for ways to
support sustainable development through the recovery and repatriation
of stolen assets.”
He noted further that “Without the commitment of the three parties to
the Agreement (Nigeria, Jersey and the United States) and that of the
legal experts and Attorneys representing Nigeria, it would have been
impossible to achieve the success recorded today.”
Mr. Malami, also stated, “As you are aware, the government of Nigeria
has committed that the assets will support and assist in expediting
the construction of three major infrastructure projects across
Nigeria: the Lagos – Ibadan Expressway, Abuja – Kano Road and the
Second Niger Bridge. These projects are being executed under the
supervision of the Nigeria Sovereign Investment Authority as a Public
Private Partnership that 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, a vast area covering several
kilometers with millions of the country’s population set to benefit
from the road infrastructures.“
He urged for greater cooperation and mutual respect amongst countries
in the implementation of expeditious cooperation measures already set
out in the United Nations Convention Against Corruption and in the
implementation of the Global Forum on Asset Recovery (GFAR) principles
on the repatriation of stolen assets.
The Minister called on civil society organizations and the Nigerian
public to be involved in the monitoring of the usage of the recovered
fund in the implementation of the key infrastructure projects that
will greatly enhance road transportation in Nigeria.
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According to a joint press statement on the agreement issued by the
government of three countries, the Federal Government is to establish
a Monitoring Team to oversee the implementation of the projects and to
report regularly on progress.
“The Nigerian government, in consultation with the other Parties, will
also engage Civil Society Organisations, who have expertise in
substantial infrastructure projects, civil engineering,
anti-corruption compliance, anti-human trafficking compliance, and
procurement to provide additional monitoring and oversight”.
The Solicitor General and Attorney General designate of Jersey, Mark
Temple QC, who signed the Agreement on behalf of Jersey, said “this
Agreement represents the culmination of two decades of intensive work
by Law Officers in Jersey, the United States and Nigeria. The return
of the assets to Nigeria had been delayed by a number of hard-fought
challenges by third parties which were defeated in the Courts in
Jersey and the United States.
“The Agreement establishes a framework based on fruitful co-operation,
trust and respect so that the forfeited funds can be repatriated to
benefit the people of Nigeria, from whom they had been taken. The use
of the funds will be subject to monitoring and reporting obligations.
“This is a very significant achievement, and, once again, demonstrates
Jersey’s commitment to tackling international financial crime and
money laundering.”
Jersey’s Minister for External Relations, Senator Ian Gorst, said:
“since becoming aware that the alleged proceeds of Abacha corruption
and money laundering had passed through Jersey financial institutions,
the Jersey authorities have done everything within their power to
investigate what happened and to return the money to its rightful
owners, the people of Nigeria.
“I would like to offer my sincere thanks and appreciation to the
dedicated team within the Law Officers’ Department, and their
colleagues in United States and Nigeria. Their excellent level of
cooperation in the fight against corruption, at domestic and
international levels, should be an example for other jurisdictions to
follow.
“As a leading international finance centre with an effective and
robust regulatory regime, Jersey has a responsibility to firmly
address any instances of alleged money laundering and corruption. Our
commitment to seeing these funds repatriated has led to a positive
outcome for the people of Nigeria, has established lasting
partnerships and given us a pioneering role in asset-recovery that is
based on the principles of national interest, trust and mutual
respect.”
Deputy Assistant Attorney Brian Benczkowski announced the agreement on
behalf of the United States and stated that “The Department is pleased
to enter into this agreement with The Bailiwick of Jersey and the
Federal Republic of Nigeria to return this enormous amount of stolen
funds for the benefit of the people harmed by the corruption in
Nigeria”.
“Through the recovery of these funds — and this mutual agreement —
the people of Nigeria can see the money they lost to corruption in
flagrant disregard of the rule of law is returned through a lawful
process, and in a manner that ensures transparent and accountable use
of the funds.
This is a major achievement. It also stands as a clear
statement of our commitment to safeguard the United States from those
who seek to launder the proceeds of corruption through the abuse of
our financial system,” he added.
