Fagbemi: Nigeria Has Suffered from Damaging Effects of Corruption

Michael Olugbode in Abuja

The Attorney General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, has said that Nigeria has suffered greatly from the negative impact of corruption.

He spoke when he led the Nigeria delegation to attend the 10th Conference of States Parties in Atlanta to commemorate the 20th anniversary of the United Nations Convention against Corruption (UNCAC), with over 150 member states in attendance.

The Nigerian delegation included representatives of the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Related Offences Commission (ICPC), among others.

“Nigeria has suffered from the damaging effects of corruption, including the loss of billions of dollars to foreign havens, stolen, and expatriated by corrupt leaders and their foreign accomplices including multinational companies.

“The diversion of such strategic resources continues to challenge Nigeria’s growth and development,” Fagbemi said in a statement.

He added that Nigeria had taken proactive measures to combat corruption, block leakages, and recover stolen assets.

In this regard, he mentioned some of the achievements made by Nigeria in the last two decades, following a stock-taking exercise embarked on by the government.

He listed them as the adoption of a roadmap for the implementation and deployment of a web-based ‘Beneficial Ownership Register’, encompassing all sectors in the country.

Fagbemi added that sponsoring a total of six resolutions on the topic of asset recovery, international cooperation and beneficial ownership transparency during the past Conferences of States Parties, Nigeria has significantly contributed to the development of international policy and standards in the implementation of the United Nations Convention against Corruption.

Another achievement, he said, was the establishment of the Nigerian Open Contracting Portal for increased disclosure of procurement information to all stakeholders.

“The portal is to ensure improved transparency and accountability processes in procurement. It will also help enhance active citizen participation for better service delivery and improved ease of doing business,” he said.

Fagbemi outlined some key priorities for Nigeria in the fight against corruption, including criminal justice reform, asset recovery, beneficial ownership transparency, and curbing illicit financial flows.

He also gave a brief statement at the action series organised by the Global Forum on Asset Recovery (GFAR) on the sideline of the COSP.

In his statement, he acknowledged the recent return of $1 million to Nigeria by the US government of proceeds of a corruption case involving the former Governor of Bayelsa State, the late Depriye Alamieyeseigha.

Fagbemi also expressed the willingness of the Nigerian government to cooperate with the French authorities in accelerating the return of an additional $150 million of the Abacha loot.

Nigeria’s Statistician General, Adeyemi Adeniran, joined others in discussing the role of corruption measurement to trigger action and assess impact.

Recalling the national corruption surveys conducted in 2016 and 2019 respectively, and the 3rd national corruption survey which is ongoing, he outlined some of the policy reforms the exercises in data collection and analysis had managed to drive.