Recovered Assets: FG Committed to Implementation of Agreements — Malami

The Federal Government is committed to the implementation of the 2020 Tripartite Agreement on Recovered assets.

Minister of Justice Abubakar Malami, SAN, made this known at the public engagement on the monitoring and use of international recovered assets and the launch of the Civil Society Organisation’s website in Abuja.

Malami said since 2016, President Muhammadu Buhari has laid out a strategy for the return of stolen assets embezzled by public officials and hidden in several jurisdictions.

The public engagement session is in line with the 2020 Tripartite Agreement under which the FMOJ, NSIA and Monitoring Civil Society Organization (CSO), and the CLEEN Foundation are expected to carry out various obligations in the utilisation of the recovered assets.

The CSOs are responsible for the monitoring of the implementation of the 2020 Tripartite Agreement signed by the Federal Republic of Nigeria, the United States of America and the Bailiwick of Jersey.

Malami was represented by the Director of Public Prosecution and Prosecutor General, Abubakar Dokko.

He said that the President’s clarion call and the global engagement by the Federal Ministry of Justice led to the signing of an Asset Return Agreement with Switzerland and the World Bank for the return of 322 Million dollars in 2017.

“As set out in the relevant agreement, these funds were utilised for the National Cash Transfer Office Programme paid to poor households across the nation.

” This programme is now subsumed under the Ministry of Humanitarian Affairs, Disaster Management and Social Development; and to ensure transparency, the World Bank was made to provide additional oversight over the use of the funds.

The News Agency of Nigeria reports that in 2020 the Federal Republic of Nigeria recorded success with the execution of another Asset Return Agreement with the U.S. and the Bailiwick of Jersey for the return of over 311 Million dollars.

The money was channelled to the Presidential Infrastructure Development Fund (PIDF) projects namely; the Lagos Ibadan Express Way, Abuja-Kano Road and the Second Niger Bridge under the management of the Nigerian Sovereign Investment Authority (NSIA).

In goodwill messages by relevant bodies present, they all pledged their support to the federal government in the judicious use of the assets recovered.