Health Care

FG Recovers $85m Connected to the Malabu Oil Deal from the UK

FG Recovers $85m Connected to the Malabu Oil Deal from the UK”

"Nigeria had recently recovered the sum of $85 million from the controversial Malabu Restrained Funds from the United Kingdom", said the office of the attorney general, Abubakar Malam, in a statement late on Thursday based on his remarks at an asset recovery event in the capital, Abuja.

However, PoliticsNGR learnt that he complained about the attitude of some countries still holding back some of the stolen funds despite several agreements signed with the Nigerian government. "Therefore, I wish to use this forum to reiterate the need for the worldwide community to ensure implementation of mergers considered and adopted at the London Anti-Corruption Summit in May 2016", he said, while soliciting the cooperation of the global community in the fight against corruption.

The meeting was said to have been scheduled to hold between December 4 and 6, 2017.

He said despite the non-compliant nature of some countries, the government would not relent in its bid to recover more funds. "It is an established fact that corruption which is linked to organised crime, terrorism and insecurity is one of the reasons for underdevelopment".

According to him, a key component of the MOU is focused on meeting Nigeria's obligation on the transparent management of returned assets.

More news: Burundi officially leaves International Criminal Court

The meeting was said to have been with the theme, 'Building an Enduring Framework for Asset Recovery in Nigeria'.

He urged the worldwide community to work the talk by fulfilling some of the commitments made during the London summit, which had direct implication for anti-corruption in Nigeria.

The secretary of the presidential advisory committee against corruption, Bolaji Owasanoye, was quick to debunk the fears of the mismanagement of recovered funds.

"He stated also that Nigeria had saved trillions of naira through these processes".

He said that Nigeria had implemented the United Nations convention against corruption requirement through the development of national strategy on anti-corruption.

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