Asset Recovery is the Kernel of our Anti-corruption Fight – AGF Fagbemi
Nigeria has reiterated its unwavering commitment to the fight against corruption, money laundering and illicit financial flows (IFFs) at a global rally of the United Nations Convention Against Corruption (UNCAC).
The Leader of the delegation of Nigeria and Attorney General and Minister of Justice, Lateef Fagbemi, expressed Nigeria’s commitment at the Tenth Conference of States Parties to the UNCAC held at the Georgia World Congress Centre in Atlanta, United States.
Fagbemi, who addressed the international gathering, underscored the threats posed by corruption, money laundering and IFFs to the development of Nigeria and other nations.
“We note with great concerns the threats posed by corruption, money laundering and illicit financial flows to the country. Nigeria has suffered greatly from the damaging effect of corruption, money laundering and IFFs which has resulted in the loss of colossal amounts of money running into billions by the country.
“We are however taking some bold steps and measures to combat the vices including the opening of a beneficial ownership register. Asset recovery is the kernel of our anti-corruption fight. Let me reiterate Nigeria’s unwavering commitment to the fight against corruption, money laundering and IFFs,” he said.
The Minister further stated that focus would be placed on opaque companies operating in the country while urging all states parties to the UNCAC to support the Nigerian Government’s efforts in combating corruption, money laundering and IFFs.
The Nigerian delegation to the 10th CoSP includes the outgoing Chairman of the Independent Corrupt Practices and Other Related Offences Commission, Prof. Bolaji Owasanoye, SAN, OFR; former Inspector General of Police and Chairman of the Police Service Commission, Mr. Solomon Arase; Solicitor General of the Federation and Permanent Secretary, Federal Ministry of Justice, Mrs. Beatrice Jeddy-Agba; heads of anti-corruption agencies, senior officials of the Federal Ministry of Foreign Affairs and Federal Ministry of Justice.
The COSP is a biennial event, which brings together anti-corruption law practitioners, policy makers, private sector and the civil society to renew efforts in the fight to prevent and combat corruption.
The Tenth COSP provides an opportunity to take stock and renew global commitments to the implementation of the relevant legal instruments, especially the United Nations Convention Against Corruption (UNCAC) and COSP resolutions.
The session is expected to focus on the review of the implementation of the Convention, asset recovery, international cooperation, prevention amongst others.
Nigeria is a State Party to the UNCAC having signed the Convention in 2003 and ratified it in 2004.
