The State Assets Recovery Act 2017 (Part I)
During the last week, there were two items making the international news headlines on the corruption front. First, the authorities in Nigeria seized US$43.4 million in cash during a raid on an apartment building in Lagos after a resident reported suspicious movement of bags in and out of the building. Investigators found the money in sealed plastic wrappers hidden in filing cabinets and panels in a wardrobe. The Nigerian President took swift action and suspended the head of the National Intelligence Agency for keeping unauthorised cash in a private home. He also ordered an investigation into the allegations of violations of law and due process against the Secretary to the Government of the Federation in the award of contracts, and directed that the official be suspended from office pending the outcome of an investigation into the matter.
Second, in a split decision (3-2), Pakistan’s Supreme Court ruled that there is insufficient evidence of corruption to remove the Prime Minister from office. It, however, ordered a further investigation into allegations contained in the “Panama Papers” of the Prime Minister’s family transferring money from their offshore companies in the British Virgin Islands to finance the purchase of properties in London. The family denied any wrongdoing and claimed that the wealth was acquired legally from investments in Qatar decades before the Prime Minister entered politics. However, critics have suggested that the offshore companies were used to launder illegally-obtained wealth or to avoid taxes. The Opposition leader, Imran Khan, former Test player and captain of the Pakistani team, demanded the immediate resignation of the Prime Minister because “he has lost moral authority to rule the country”.
Today, we begin an examination of the State Assets Recovery Act 2017 which was passed in the National Assembly last week.
The Act establishes the State Assets Recovery Agency (SARA) in consonance with the United Nations Convention against Corruption (UNCAC) which was adopted by General Assembly Resolution No. 58/4 dated 31 October 2003. The Convention was brought into force at a signing ceremony in Mexico on 9 December 2003, subsequently designated International AntiCorruption Day. Guyana acceded to the Convention some five years later in April 2008. Guyana also ratified the Inter-American Convention Against Corruption (IACAC) in December 2000.
UNCAC requires State Parties to the Convention to develop and implement or maintain effective, coordinated anti-corruption policies that promote the participation of society and reflect the principles of the rule of law, proper management of public affairs and public property, integrity, transparency and accountability. It specifically