How Commonwealth assisted Nigeria Recover $3bn looted funds

May 17, 2018
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Commonwealth Secretary-General, Patricia Scotland, visiting Minister of Foreign Affairs, Geoffrey Onyeama, in Abuja, revealed that the Commonwealth Secretariat assisted Nigeria in recovering about $3 billion looted funds from the country’s treasury within one year.

Scotland had remarked that President Muhammadu Buhari was firm on the repatriation of the funds. She stated that it was a pride for the Commonwealth to have assisted Nigeria in recovering the looted money.

“We were very proud in the Commonwealth when the President graced us by coming to the Tackling Corruption Together Conference in May, 2016, and he explained so graphically, the wisdom that comes from corruption.

”Nigeria has managed to get back more money than it has got back in 10 years before.

“It recovered about three billion dollars. That is over five hundred billion naira.

“And that is money that can go to schools and housing and roads and I hope that we will get even more money back together,” Scotland had said.

Scotland commended the Economic and Financial Crimes Commission (EFCC) Chairman, Ibrahim Magu, for the work he has done, expressing hope that it was just the beginning of the war against corruption in the country

“I was there to launch that building, fantastic building and I really applaud the acting chairman because of the work that he has done… and I pledge our continued support,” Scotland said.

Onyeama had remarked that anti-corruption was one of the three priority areas of the President.

The minister expressed delight over the Commonwealth’s monitoring and supporting anti-corruption efforts.

He said Nigeria looked forward to having more cooperation and engagement with the Commonwealth, including funding.

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