CISLAC, TI Nigeria Applaud UK Over $9.5m Asset Recovery, Demand Transparency Under POCA
Asset recovery, anti-corruption advocates insist, must go beyond retrieving stolen funds to ensuring they truly serve the public good.
This position was strongly echoed by the Civil Society Legislative Advocacy Centre (CISLAC) and Transparency International Nigeria (TI Nigeria), who commended the United Kingdom for facilitating the recovery of $9.5 million in stolen Nigerian assets.
In a statement signed by Comrade Auwal Musa Rafsanjani, Executive Director of CISLAC and Head of TI Nigeria, the organisations described the recovery as a clear demonstration of effective international cooperation in line with Nigeria’s Proceeds of Crime Act (POCA), 2022.
They noted that POCA provides a robust legal framework for tracing, freezing and repatriating illicit assets hidden both locally and abroad.
While welcoming the development, CISLAC and TI Nigeria raised concerns over the persistent lack of transparency in the utilisation of recovered funds.
They observed that despite several asset recoveries in recent years, Nigerians are often left in the dark about how such monies are managed and spent.
The groups stressed that with Nigeria losing an estimated $18 billion annually to illicit financial flows, recovery efforts alone are insufficient.
They called for stronger accountability systems, dedicated accounts for recovered assets, public disclosure of repatriation agreements, and independent oversight to prevent re-looting.
They further warned that weak enforcement, prolonged litigation and institutional gaps continue to undermine Nigeria’s anti-corruption efforts, urging the government to fully implement POCA and honour its commitments under the Global Forum on Asset Recovery.
According to the organisations, transparency and accountability are critical not only to protecting national wealth but also to restoring international confidence and improving the global perception of Nigerian citizens.
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