Olukoyede in US, Seeks Urgent Recovery of Stolen Assets  Stashed Abroad

Kingsley Nwezeh in Abuja

Chairman of the Economic and Financial Crimes Commission(EFCC), Ola Olukoyede, yesterday, called for urgent and unconditional return of Nigeria’s stolen assets stashed in foreign countries.

He made this call at the ongoing 10th session of the  Conference of State Parties (COSP) to the United Nations Convention Against Corruption (UNCAC), holding at the Georgia World Congress Centre, Atlanta, United States of America.

He said the return of stolen assets warehoused in foreign countries, had  become imperative for the growth of the economy and expansion of frontiers of development within and outside Nigeria.

He warned that economic and financial crimes had become transnational crimes and no nation serving as a custodian of stolen assets should hold on to them.

“We need the cooperation of all the countries that are custodians or in charge of warehousing all these stolen assets from Africa.

“It has become extremely important for us to see you as our collaborators, as countries that support us in the fight against corruption.

“Now, when you look at corruption, it has become a transnational crime. If you are holding on to those assets, you are creating very difficult legal hurdles in recovering those assets.

“You are indirectly encouraging the perpetrators of the crimes we are talking about and when you encourage it in Africa, it has a tendency of affecting you too, because the kind of financial crimes we are talking about have become global in nature. So, it has become important for you to cooperate with us,” he said. 

The EFCC boss, in a presentation made before a global audience on asset recovery efforts and successes of Nigeria so far, pointed out that Nigeria had “probably done much more than any other country, perhaps the whole world, in the area of asset recovery.

“We have been able to achieve something because of the legal and regulatory framework that the government of Nigeria has been able to put in place.”

Earlier, the Nigerian Country Director,  United Nations Office on Drugs and Crime,  Oliver Stolpe,  applauded Nigeria on its asset recovery efforts.

“Nigeria in many ways has been leading the asset recovery efforts on the African continent and I like to refer to Nigeria as the world’s champion in asset recovery because, certainly  in African comparison, you have more cases and recovered large amounts,” he said.