By Nkechi Eze
The Civil Society Legislative Advocacy Centre (CISLAC) says Nigeria has made significant strides in recovering stolen assets, announcing that over $5 billion has been recovered in the last 25 years. This impressive feat is a testament to the country’s efforts to tackle corruption and ensure accountability.
CISLAC Executive Director Auwal Ibrahim Musa, Rafsanjani, revealed Nigeria’s $5 billion asset recovery milestone during the launch on six assessments of national implementation of the Common African Position on Asset Recovery (CAPAR) in Abuja.
According to Rafsanjani, Nigeria has significantly contributed to asset recovery challenges in Africa and the West African sub region.
“Nigeria has established alliances with other nations, to guarantee a unified African effort to retrieve and repatriate assets to the continent” he said.
Speaking further, he explained that more work needs to be done with regards engaging citizens and civil society, especially considering the absence of frameworks such as whistleblower protection channels that will enable citizens to disclose issues related to corruption appropriately.
“While there has been improvement, it is crucial to note that adequate management of these recovered assets is still required, and this has proven to be a significant problem” he said.
“Effective management of recovered assets is still essential, despite progress made. To achieve this, it’s crucial to implement the provisions of the Proceeds of Crime (Recovery and Management) Act, 2022, in a thorough and efficient manner. This means putting in place robust systems and processes to ensure that recovered assets are handled, utilized, and monitored in a way that supports the overall goal of combating crime and promoting justice” he said.
Speaking further, Mr, Auwal lbrahim urged the government to enhance engagements with citizens and civil society, Enactment of a Whistleblower Blower Protection legal frameworks as well as other whistle blower protection channels, amongst others .
The Common African Position on Asset Recovery (CAPAR) marks a significant breakthrough in the African Union’s efforts to reclaim stolen assets. Adopted in February 2020, CAPAR provides a comprehensive policy framework outlining international, regional, and national strategies to boost asset recovery. Its primary objective is to facilitate the repatriation of African assets illicitly transferred to foreign jurisdictions, ensuring their return to their rightful owners.
