Nigeria cries to the world for help on looted assets

Nigeria cries to the world for help on looted assets

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Nigeria has recovered billions of dollars of stolen money from overseas.

But the authorities believe more money is still stashed away illegally in foreign banks and need to be returned through the help of global leaders.

It is that belief that propelled Nigeria’s Foreign affairs minister Geoffrey Onyeama to call on the international community to demonstrate strong commitment to the policy of returning all illicit assets and money to their countries of origin.

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Onyeama made the appeal at the High-Level Meeting on Financing the 2030 Agenda for Sustainable Development at the ongoing High-Level Segment of the 73rd UN General Assembly in New York, U.S.A.

On illicit financial flows, he urged the international community to complement the efforts of Member States, particularly developing countries.

He said that they should increase public awareness on the need to curtail the illicit flows and stressed the need to dismantle safe havens for proceeds of illicit assets.

In this regard, he called on all UN member states to consider the possibility of waiving or reducing the processes and costs of recovery of illicit assets.

He encouraged countries and relevant multilateral organisations to continue to provide technical assistance and capacity-building assistance to developing countries to improve their capacity to prevent, detect and combat illicit financial flows.


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