Nigeria security officials to head to UAE to finalise agreement on recovery of looted funds – Presidency

President Muhammadu Buhari’s trips abroad is facilitated by the need to block all safe havens for looted funds from Nigeria, the Presidency said on Monday.

This is even as the Presidency disclosed that security officials in the country would, in the next one week, travel to the United Arab Emirates (UAE) to further actualize an agreement on recovery and
repatriation of stolen funds. A fallout of the President’s visit to the UAE penultimate week.

Senior Special Assistant to the President on Media and Publicity, Garba Shehu told journalists at the Presidential Villa, Abuja that the President’s trips were not a jamboree but for the good of the country.

He was speaking against the background of the number of recent foreign trips made by the President. The President had penultimate week visited the United Arab Emirate (UAE). He had also visited Kenya and Ethiopia last week. He is scheduled to also depart Nigeria for France
and London respectively.

According to Shehu, the President’s trips abroad, have succeeded in making his administration secure agreements with the various countries on recovery and repatriation of stolen funds.

President Buhari had while speaking in Ethiopia said government plans to use recovered looted funds to fund the N2.2trillion deficit of the 2016 budget.

He said “You also see gradually the strategic efforts to go after the stolen funds abroad. The UAE is very important to the country. Nigeria and the UAE had the penultimate week, during the President’s visit signed six agreements essentially on trade, finance and judicial matters. While the agreement on trade was to promote investments and business dealings amongst the two countries, the judicial bilateral agreement will enable the country to extradite, or transfer persons
serving jail terms, enabling Nigeria to recover its looted funds stashed in that country.

“Don’t be surprised that in the coming week or two, you will have high-level security officials leaving Nigeria for the UAE to begin to give expression to our wish to enjoy this new cooperation between the two countries with a view to recovering stolen assets.

“There are numerous agreements we have also signed with them. Drugs, human trafficking and stolen assets that have been stolen abroad. So, the President want to make it difficult for people, even when then steal from Nigeria, there would probably be no hiding place for stolen assets,” Shehu said.

According to Shehu, the President’s trips abroad, have succeeded in making his administration secure agreements with the various countries on recovery and repatriation of stolen funds.

President Buhari had while speaking in Ethiopia said government plans to use recovered looted funds to fund the N2.2trillion deficit of the 2016 budget.

 

Elizabeth Archibong