CISLAC Applauds FG’s Foreign Asset Recovery Effort

The Civil Society Legislative Advocacy Centre (CISLAC), has commended the efforts of the federal government to repatriate the stolen Nigerian assets abroad.

This, it stated was demonstrated by the latest landmark agreement between the federal government, the Island of Jersey and the United States of America for repatriation of assets looted by Sani Abacha.

The Executive Director, CISLAC, Auwal Rafsanjani, explained in a statement that once the assets are repatriated to Nigeria and put to use for the benefit of Nigerian citizens, it would be an important milestone in the ongoing effort of the Nigerian government, Nigerian civil society and like-minded international partners.

The statement further noted that CISLAC, Nigerian and international partners have long been campaigning for unconditional and swift repatriation of Nigerian and African wealth stolen by kleptocratic leaders aided by the international financial enablers.

It added that CISLAC has been consistent in urging government to establish an accountable and transparent system, which would enable 100 per cent accountable utilisation of the repatriated assets to the corruption victims, “in most cases, the entire Nigerian population, whose common wealth has been systematically plundered and illegally exported abroad for many decades.”

“In principle, CISLAC supports the investment of the recovered assets for infrastructure projects. In the context of technical problems, controversies and heavy transaction costs associated with some previous international recoveries, the recovered assets may be invested into infrastructural projects which may be easier to independently verify, and their completion and usage observed by the Nigerian population without expensive verification mechanisms by third parties.

“As we still await full disclosure of the details of this deal, infrastructure projects namely for Lagos-Ibadan Expressway, Abuja-Kano road and the 2nd Niger Bridge, are reported to be funded by these repatriated assets.

“However, we shall insist that the Government complies with the 10 Global Forums for Asset Recovery (GFAR) principles as signed by the Government of Nigeria in 2017 in Washington, DC. In particular, the principle four (4), Transparency and Accountability, should be upheld.”