Nigeria begs U. S. to repatriate more stolen funds

TFederal Government has urged the United States to repatriate more illicit funds stashed by Nigerian officials through its banking system.

Minister of Foreign Affairs, Yusuf Tuggar, appealed in his remarks at the Sixth Session of the Nigeria- U. S. Bi- National Commission in Abuja yesterday.

Represented by the Permanent Secretary in the ministry, Adamu Lamuwa, the minister underscored the need for increased support from the American nation, citing the sealed $ 308 million deal as insufficient, compared to Nigeria’s losses from illegal fund transfers over the years.

He reiterated the Nigerian government’s commitment to utilising the funds for the collective benefit of citizens, in line with agreements with development partners.

Tuggar said the funds would be allocated to infrastructure, especially projects such as roads, schools, education and other vital sectors requiring substantial investment.

His words: “I would like to appreciate the fallout of the Democratic National Convention held in February 2020 in Washington, DC. The governments of Nigeria, the United States, and Jersey signed a tripartite agreement to return to Nigeria the sum of over $ 308 million of funds stolen from the country.

“I would also urge the U. S. to do more because $ 308 million is a meagre amount when you look at the resources that Nigeria has lost over the years due to illegal transfers of funds from the country.”

He said the theme for this year, “Partnership for Mutual Benefit and Development,” was apt.

The U. S. Deputy Secretary of State, Kurt Campbell, highlighted the pivotal role of security cooperation in the Nigeria- U. S. partnership. Campbell, represented by the Assistant Secretary for African Affairs, Molly Phee, stressed that without security, achieving prosperity becomes challenging and human rights endangered. He said the joint efforts are aimed at tackling Nigeria’s multifaceted security challenges, including terrorism, banditry and piracy, which pose significant threats to the populace.

The American added: “Security cooperation is another crucial aspect of our relationship. Without security, prosperity will be elusive and human rights threatened.