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Tag: Looted Funds

  • Looted funds: Reps grill NSA, IGP; invites Presidential Committee chair on arms, ammunition

    Looted funds: Reps grill NSA, IGP; invites Presidential Committee chair on arms, ammunition

    The House of Representatives ad-hoc committee investigating the recovery and management of looted funds and assets by agencies of the federal government on Tuesday grilled the Office of the National Security Adviser ONSA and the Office of the Inspector-General of Police IGP on the amount of funds so far recovered.

    The panel also resolved to invite chairman presidential committee on arms and ammunition funds recovery.

    Chairman of the House panel Hon Adejoro Adeogun and other committee members took their turns to bombard questions to the representatives of both the NSA and the IGP when they resolved to take them as the two top security managers asked to be excused based on exigent national security assignments.

    The Ad-hoc Committee had on Monday June 7, 2021 summoned the NSA, IGP, NIMASA DG and other heads of MDAs to appear on Thursday 10th June unfailingly having failed to turn up to an investigative hearing on the matter on that date.

    However, at the rescheduled hearing, the committee helmsman said both the IGP and NSA had written to the committee explaining why they couldn’t come on the date they were summoned as they were part of the President’s entourage to Lagos where he commissioned a railway project on the same date.

    Moreover, the Director of Finance and Administration of the Office of National Security Adiviser Brig-Gen Jafaru Mohammed (rtd) who represented the NSA Major-Gen Babagana Monguno (rtd) also said that the NSA would have loved to honour the committee invitation but he had traveled out of the country.

    When the Ad-hoc Committee chairman set the ball rolling asking the DFA how much has the the Office of National Security Adviser recovered or received in totality in terms of looted funds and assets, he said that the NSA office does not get directly partake in any recovery

    He however admitted that the agency only get involved in recovery of any stolen funds or asset when there is a presidential directive to that effect which is unusual but comes up once in a while.

    When asked to admit the memorandum of the NSA that no recovery was made by the office in looted funds and assets, he stated that there was a time the President constituted a committee to investigate arms and ammunition purchase and the committee operated without interference from the office of the NSA.

    But the Committee Chairman insisted that the arms and ammunition committee in question was directly supervised by the NSA’s office adding that there were a lot of bank accounts open by the office that had many inflows and withdrawals by the office.

    The DFA however denied the existence of many of such bank accounts saying that the NSA’s office only operates two accounts viz: a domiciliary dollar account and Naira account with the Central Bank of Nigeria CBN.

    He further said that the only recovery was only the sum of $7,436 million that was recovered by the agency and deposited to the CBN account.

    Other committee members notably Hon. Sada Soli also said that N712 million was paid into the recovery account of the CBN in August 2017 by the agency even as the committee chairman said he is lying on oath.

    Also in a presentation to the probe panel, a Deputy Inspector-General of the Police Joseph Egbuniwe who represented the IGP Usman Alkali Baba said that there were about N114 million lodgement of recovered funds done by the agency into a CBN recovery account.

    He further said that there was another $30 million recovered, N214 million recovered from twenty three election fraudsters from Rivers State that was paid into the same account.

    Fielding questions from lawmakers on whether there were other recoveries, he said that there were also eighty three tankers and seven marine vessels were also recovered.

  • Recover looted wealth to fund budget – Falana

    Human Rights lawyer Femi Falana (SAN) has told the Federal Government to embark on a drive to recover Nigeria’s looted wealth to garner resources to fund the 2020 budget.

    Falana made the assertion in an interview with a correspondent of the News Agency of Nigeria (NAN) at Imota, near Abeokuta on Sunday.

    He said the Nigerian Government must urgently seek other means of generating funds to complement the N10.33 trillion 2020 budget recently unveiled by President Muhammadu Buhari.

    According to him, the N10.33 trillion budget presented by Buhari is not enough to stimulate the rapid development expected by Nigerians.

    “From the budget breakdown, N2.5 trillion has been earmarked to service debt; about 70 per cent of the balance would go for paying salaries and recurrent expenditure while the remaining 30 per cent will hardly be enough for necessary developmental projects.

    “The budget is not sufficient and so the government must look at other areas to generate more wealth for the country and embark on a serious drive to recover looted wealth.”

    According to him, there may also be need to increase tax but it should not be now that Nigerians are facing economic hardships.

    Falana, however, charged the president and other public office holders to cut down their expenditures, travelling and allowances and divert such money to developing the country.

    The legal luminary also advised the government to desist from adopting any policy that could bring suffering to the masses.

    He described the recent increment on value-added tax as ill-timed, saying that the interest levied on cash deposits and withdrawals should be cancelled.

    Falana said the government could use other means to foster a cashless economy, including placing an embargo on the amount of money to be withdrawn from banks daily, rather than imposing charges.

    “The National Assembly by virtue of the constitution would have to look at VAT whether it can be increased or not,” he said.

  • How we’ll recover, spend looted funds in Oyo – Makinde

    How we’ll recover, spend looted funds in Oyo – Makinde

    Governor Seyi Makinde of Oyo State has wooed banks’ executives to assist the government in ensuring that all looted funds in the state were recovered and used for the overall development of the state.

    He also vowed to recovered every bit of looted funds in the state, while such recovered loot should be kept in a special bank account for the use of the state.

    The governor made this revelation while playing host to the management of the Unity Bank Plc at Agodi governor’s office.

    According to him, the account will be made open to everybody to avoid the recovered money being looted again.”

    “We want to recover the money in a very transparent manner and for people to see what the present administration has done with the money recovered.

    ”People should know how money belonging to them is being spent. The state money seized from individuals by EFCC will be returned to the account,” he said.

    Makinde had on assumption of office discovered N1.2 billion being state money seized from a certain government official.

    He had since approached the EFCC to refund same to the state government; to support his administrative drive to reposition the alleged comatose education sector.

    While assuring that the state’s account with the bank would be used to save the looted money recovered from ‘wrong hands and accounts’, the governor charged the bank to also hold the state accountable because the government should not compromise the trust reposed in it by the people.

    He said that his administration was ready to foster a partnership with bankers, processors, agriculture and business experts to develop the state.

    ”Agriculture is one of the pillars that this administration rested on and that is the tool that is intended to be used to expand the economy, Making said.

    He assured the bank management that the government would not discriminate against it because it was not among the first big banks but would give equal opportunity to all partners of the government.

    Earlier, Mrs. Toyin Somefun, the Managing Director of the bank said that the purpose of the visit was to request for partnership with the new administration under Makinde.

    Somefun said the bank wanted to partner with the state in the area of infrastructure, education, and agriculture where it had significant milestones.

    She said that the bank was number one in Anchored Borrower Scheme, with the Central Bank of Nigeria, “with an exposure of over N60 billion intervention fund with CBN.”

    Somefun said that the bank had financed more than 500 farmers across various commodities such as rice, wheat, cotton, soya, and ginger.

  • Why EFCC don’t have exact amount of looted funds – Magu

    The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu on Wednesday said it was difficult to say exactly how much was looted from Nigeria.

    He blamed it on poor record keeping, adding that previous administrations’ lack of political will accounted for the poor rate of asset recovery from abroad.

    “It is difficult to estimate what Nigeria has lost because we have poor record keeping system,” he said.

    This is as a Queens Counsel (QC) Phillip Hackett said the United Kingdom might be reluctant to return Nigeria’s looted funds because of fear that they could be re-looted.

    According to him, Nigeria has only recovered a fraction of its loot hidden in the UK.

    “How much money has been recovered? Practically nothing. Nigeria has recovered so little,” said Hacket.

    He was the lead speaker at a session, with the theme: “Institutionalising the war against corruption – new approaches to assets tracing and recovery” in the Annual General Conference of the Nigerian Bar Association (NBA) in Abuja,

    The session, which was chaired by Presidential Advisory Committee Against Corruption (PACAC) Executive Secretary Prof Bolaji Owasanoye, featured Magu, represented by EFCC’s Director of Legal and Prosecution Department Chile Okoroama.

    Also on the panel were a Senior Advocate of Nigeria (SAN) Chief Mike Ozekhome, former Civil Liberties Organisation (CLO) president Mrs Ayo Obe and a lawyer, Ehi Esoimeme.

    According to Hackett, the UK’s attitude towards Nigeria is that it cannot be relied on to account for returned assets.

    “The UK position is that Nigeria cannot be trusted with its money. That’s what underpins it (poor asset return rate), and it has to be addressed,” he said.

    He, however, said UK laws have been reviewed to make asset recovery and return easier.

    Magu criticised lawyers, some of who he said aid money laundering, urging the NBA to discipline its senior erring members.

    “Lawyers have been involved in money laundering; laundering of proceeds of crime. When they were asked to register with the Special Control Unit Against Money Laundering (SVUML) for regulation, they went to court. NBA said it could regulate itself. But how far has NBA gone in regulating itself? That is the issue.

    “I think the NBA Disciplinary Committee should be up and doing. I get embarrassed when NBA descends heavily on lawyers who are not considered to be significant, but they turn a blind eye to what big-time counsel are doing.

    “I think they have to do their work without looking at faces, no matter whose ox is gored. That is the only way that we can have confidence and respect for the Disciplinary Committee,” the EFCC chief said.

    Responding to a question on why the Federal Government pays so little (five per cent) to lawyers who help in asset recovery, Owasanoye said lawyers who handled such cases in the past were paid billions with nothing to show for it.

    He said the NBA also did nothing to rein in such lawyers who pocketed billions for doing no work.

    Owasanoye said: “The NBA as presently designed – its mindset – is not in a position to fight corruption, unless you want to deceive yourselves. I’m a member of the NBA. It’s my position, it’s not a secret. Every time I’ve had a chance to speak at NBA conferences, I always make the point using facts.

    “If the NBA will not take a position and deal with the issue, we’re going to be going round in circles. And the implication is that majority of the practitioners are going to be left in the fringes. They will not be able to survive.

    “It behoves the NBA to create mechanisms that will assure the public that it is dealing with the issue. Otherwise you stigmatise the entire profession for the sins of a few.”

    The PACAC Executive Secretary denied Ozekhome’s allegations that money recovered from abroad was being re-looted, saying all the cash recoveries were kept in a dedicated account and that none was spent without appropriation.

    Owasanoye said anyone alleging money had been re-looted under the Buhari administration should provide evidence.

    Ozekhome accused the Federal Government of engaging in selective war against corruption, adding that the NBA is silent in the face of abuses of rule of law.

    “The NBA has been sleeping. The NBA, to me, with all respect, has been greatly compromised. And I think the time has come for us lawyers to make up our minds, that if the incoming executive wants to go the way of the last NBA, there will be need to split the NBA from the old order to a new one.

    “We’re no longer having the NBA championing the cause of the common man in this country. People cannot even speak. Everybody is looking over their shoulders,” he said.

    He decried the fact that All Progressives Congress (APC) welcomes people who had been previously accused of corruption and declares them “sinless” once they decamp to the party.

    “In as much as I agree that once you catch a corrupt person you should prosecute the person, you cannot overlook the corruption in your own system,” Ozekhome said.

     

  • We’ll soon publish names of Nigerians who acquired properties with looted funds – FG

    The federal government on Thursday promised to release the names of 200 individuals who own property that was purchased with illegally-acquired funds.

    The Chairman, Special Presidential Investigative Panel for the Recovery of Property, Okoi Obono-Obla, said this at the “Tackling corruption through improving transparency in property ownership” project which was held by ANEEJ in Abuja on Thursday.

    Obla, who is also the Senior Special Assistant to the President Muhammadu Buhari on Prosecution, also launched ANEEJ’s new online platform ‘Properti Tracka’ which will aid in tracking down these illegal properties.

    He described the platform as being one of the single most important contributions towards the fight against corruption.

    “Anybody who has taken what doesn’t belong to him should return it back to Nigeria or else face being tracked down,” he said.

    “Properti Tracka will expose those who have taken what belongs to the entire Nigerian populace.

    “We will start by making available to the public the 200 names of those who own massive properties in Maitama, Abuja, most of whom are highly placed people in the country, some in the government, some in the past governments.

    “If they cannot explain where they got the money to build such massive properties, they should quietly return it back to the State.”

    Executive Director, ANEEJ, David Ugolor said that the Properti Tracka will help to unveil the owners of these and more properties and find out whether they are actually paying appropriate taxes to the government.

    “The Properti Tracka is a citizen tool to identify these owners of illegally-acquired properties and also to push for clean property in Nigeria.

    “It will also serve to strengthen citizens’ knowledge about using technology to demand for transparency and accountability in the property market in Nigeria.

    “The source of building the property must be from a genuine source. We will be working with the federal government agencies, the tax office, and law enforcement agencies as well.”

  • Buhari’s visit: U.S. to commence repatriation of over $500m looted funds to Nigeria

    Buhari’s visit: U.S. to commence repatriation of over $500m looted funds to Nigeria

    The visit of President Muhammadu Buhari to U.S. President Donald Trump has yielded the finalisation of negotiations to repatriate more than 500 million dollars (about 190 billion Naira) of Nigeria’s looted money traced to the U.S.

    Nigeria’s Attorney-General and Minister of Justice, Abubakar Malamin said he and the Attorney-General of the U.S. would be meeting on Tuesday to finalise the agreement.

    Malami explained that the technicalities involved were being taken care of by both officials of the Nigerian Governments and also from the U.S. side.

    He said: “On the part of assets recovery, we have made considerable progress through this visit.

    “There’s goodwill by the two presidents to have a road map for the repatriation of illicit funds and assets traced to the U.S. as proceeds of illicit transactions.

    “This illicit funds and assets are to the tune of 500 million dollars and above for immediate repatriation.

    “We are looking at the shortest practicable time for it to be repatriated.

    “There is political commitment demonstrated by the two presidents.

    “The over 500 million dollars is not all the recovery, it is only for the immediate repatriation while we continue with our efforts to recover more”.

    Malami defended Nigeria’s human rights record, saying the Buhari’s administration is the first in the history of Nigeria to pay compensation for human rights violations.

    He said in April, the Federal Government paid N135 million for the eight Apo traders who were found to have been victims of extra judicial killings by the Nigeria Police.

    “Of the police officers indicted, two were sentenced to death. The payment of compensation was also as a result of the recommendation by the National Human Rights Commission and government did not appeal against it,” he said.

    He noted that Trump approved of what Buhari’s administration is doing.

    “Trump said Buhari is a great leader; he said he has a great respect for him; and he said Buhari has cut down on corruption,” Malami said.

  • 2019: Nigerians will forgive when you return funds stolen for 16 years, FG tells PDP

    The federal government says the Peoples Democratic Party (PDP) should complete its apology to Nigerians by returning all the funds looted from the public treasury during its 16 years in power.

    In a statement issued in Abuja on Tuesday, the Minister of Information and Culture, Lai Mohammed, also challenged the party to show the genuineness of its apology through a discernible change of attitude.

    ”The PDP presided over an unprecedented looting of the public treasury, perhaps the worst of its kind in Nigeria or anywhere else in the world.

    “Therefore, the best evidence of penitence for such a party is not just to own up and apologise, but to also return the looted funds as anything short of that is mere deceit.

    The minister said with the paucity of funds, the administration had spent an unprecedented amount of money on infrastructural development and Social Investment Programme, among others.

    He added that returning looted funds would provide more money for the programmes and make life more meaningful for Nigerians.

    Mohammed also reminded the PDP of the quote: “If you find yourself in a hole, stop digging,” saying it applies to the PDP at this time.

    ”PDP, press the reset button. Stop sabotaging the work of this administration, which is packing the mess you left behind, through your reckless statements and unfounded allegations.

    “Play responsible opposition politics. Put Nigeria’s interest over and above partisan interest.

    “Temper your desperation to return to power. Spend quality time in the purgatory and you will be forgiven,” he said.

    Recall that the PDP had on Monday reflected on its 16 years stewardship and admitted it made mistakes and asked Nigerians to forgive its wrongdoings.

    National chairman of the PDP, Uche Secondus, who spoke at a public discourse, had said the party was sorry for its mistakes.

  • FG moves to recover looted funds, assets traced to ex-govs, ministers, others in Dubai

    FG moves to recover looted funds, assets traced to ex-govs, ministers, others in Dubai

    The Federal Government on Friday launched fresh moves to seize looted funds and suspicious assets traced to some former governors, ministers and senators in the United Arab Emirates (UAE).

    The Attorney-General of the Federation, Mallam Abubakar Malami (SAN), and the Acting Chairman of the Economic and Financial Crimes Commission, Mr. Ibrahim Magu, left for Dubai last night to finalize the forfeiture process.

    The number of the affected Politically Exposed Persons (PEPs) under probe were said to be over 20.

    According to a report by The Nation, names of those implicated includes a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke; a former Managing Director of the Pipelines and Product Marketing Company (PPMC), Mr. Haruna Momoh(eight suspected assets in Dubai ); a former Managing Director of the defunct Oceanic Bank, Mrs. Cecilia Ibru; a former First Lady; Senators involved in London-Paris Club scandal; ex-PDP National Chairman; ex-CG of Customs; a former Special Assistant on Domestic Affairs to a former President; about nine ex-governors and six former ministers.

    Recall that Nigeria had signed six agreements with the UAE on January 19, 2016 following a state visit by President Muhammadu Buhari.

    The pacts include Judicial Agreements on Extradition, Transfer of Sentenced Persons, Mutual Legal Assistance on Criminal Matters and Mutual Legal Assistance on Criminal and Commercial Matters (the recovery and repatriation of stolen wealth).

    A top source, who spoke in confidence, said the Federal Government had gathered enough evidence on some of the Nigerian suspects who had stashed public cash in Dubai with choice assets to wit.

    The source also said in some cases, the EFCC had secured court orders/Mareva injunctions for the seizure of some of the assets.

    Also the source claimed that financial intelligence had confirmed how public funds were wired to UAE by some of the suspects in question.

    The source added: “In the last two years, there had been shuttles to Dubai by the AGF and Magu on some of the slush funds and suspicious assets.

    “We are now at the stage of attaching or seizing some of the cash and assets. We have hauled evidence to the place with a view to concluding the process of repatriating the looted funds. In fact, in some instances, a few suspects admitted owning some of these suspected assets in Dubai.

    “The UAE law is very strict on suspected assets and looted funds. Nigeria had to provide verifiable evidence before seizure can be allowed.

    “From the look of things, we are hopeful that the first set of seizures will soon be agreed upon by the two countries. Those affected are many.”

    Responding to some questions, the source added: “I think some cases are straightforward. It is public knowledge that a former Managing Director of the defunct Oceanic Bank, Mrs. Cecilia Ibru, was convicted. The Federal Government is only trying to attach some suspected assets allegedly owned by her or traced to her links. It is left to the UAE Government to verify through appropriate agencies whether or not the suspected assets in Dubai are hers.

    “The EFCC also has evidence of how some Senators benefited from the London-Paris Club refunds and the shop owners in Dubai used to launder such funds. The financial intelligence sharing by the two countries can uncover this. Apart from seizing the funds, those implicated can be prosecuted in Nigeria for money laundering.

    “There are some cases in which we have provided evidence, including some on ex-Minister Diezani, businessman Kola Aluko, a former PPMC MD, Momoh; a former First Lady, a former Special Assistant to an ex-President on Domestic Affairs and some ex-governors and ministers.

    “The assets allegedly identified with Diezani are marked as J5 Emirates Hills (30million Dirham) and E146 Emirates Hills valued at 44million Dirham.

    Those allegedly traced to Aluko are as follows: 4100 Le Reve Dubai Maria, Dubai; Unit 1402, PS 14th Floor located at Metro TECOM near Internet City Metro Station, Dubai; Unit 712, ES 7th Floor located at First Central, Off Sheikh Zayed, TECOM, Al-Barsha 3 Dubai and Unit 512, 5th Floor located at First Group Marina Hotels, Al-Seba Street, Plot 394-426, Dubai AE-AJ.

    The list of the houses allegedly traced to Momoh in the United Arab Emirates( UAE) are at First Group Marina Hotels, Al-Seba Street, Plot 394-426, Dubai, AE-AJ United Arab Emirates; Unit 503, 1 Bedroom Heritage, 5th Floor located at First Central Dubai Media City TECOM off Sheikh Zayed, TECOM Al- Barsha 3 Dubai; Unit 1910 ES Heritage, 19th Floor located at First Central Dubai Media City TECOM off Sheikh Zayed, TECOM Al- Barsha 3 Dubai; a Unit 2507 Dubai Sports City; Unit 314 Dubai Sports City; and Unit 1002, TECOM BARS 125616.

    Others are Unit 1402, PS 14th Floor located at Metro Central, TECOM near Internet City Metro Station, Dubai ( UAE); Unit 712, ES 7th Floor located at First Central, Off Sheikh Zayeed, TECOM, Al-Barsha 3 Dubai( UAE); Unit 512, 5th Floor located at First Group Marina Hotels, Al-Seba Street, Plot 394-426, Dubai AE-AJ UAE.

    Sections 7 of 28 and 34 of the EFCC (Establishment Act) 2004 and Section 13(1) of the Federal High Court Act, 2004 mandate the agency to seize suspicious assets.

    Section 7 says: “The commission has power to (a) cause any investigations to be conducted as to whether any person, corporate body or organization has committed any offence under this Act or other law relating to economic and financial crimes.

    “(b) Cause investigations to be conducted into the properties of any person if it appears to the commission that the person’s lifestyle and extent of the properties are not justified by his source of income.”

    Sections 28 and 34 of the EFCC (Establishment Act) 2004 and Section 13(1) of the Federal High Court Act, 2004 empower the anti-graft agency to invoke Interim Assets Forfeiture Clause.

    “Section 28 of the EFCC Act reads: ‘Where a person is arrested for an offence under this Act, the Commission shall immediately trace and attach all the assets and properties of the person acquired as a result of such economic or financial crime and shall thereafter cause to be obtained an interim attachment order from the court.’

    Section 13 of the Federal High Court Act reads in part: “The court may grant an injunction or appoint a receiver by an interlocutory order in all cases in which it appears to the court to be just or convenient so to do. (2) Any such order may be made either unconditionally or on such terms and conditions as the court thinks just.”

     

  • Buhari will demand repatriation of looted funds at UN Assembly – Onyeama

    President Muhammadu Buhari will demand the repatriation of looted public funds to countries of origin, including Nigeria, at the forthcoming 72nd United Nations General Assembly holding in New York, the Foreign Affairs Minister, Geoffrey Onyeama, said on Tuesday in Abuja.

    Onyeama explained that the President would lead a large delegation to the Assembly, which would hold between September 12 and 25, 2017.

    Onyeama told journalists at a briefing that the fight against terrorism, human rights protection, and repatriation of illicit financial assets to countries of origin, among other global issues, would top Nigeria’s agenda at the UN.

    He pointed out that the Federal Government was facing challenges of repatriating stolen funds stashed in foreign countries.

    He said, “The country would push to actualise the UN resolution on ‘Promotion of International Cooperation to Combat Illicit Financial Flows,’ so that all the countries of the world would be fully engaged in repatriating stolen funds to countries of origin.

    “For Nigeria, it is a developmental issue — it impacts directly on the developmental trajectory of Nigeria and other developing countries that resources that we need to promote development in the country are being siphoned out of the system and this has negative impact on the developmental challenges that we face.”

    The Minister added that President Buhari would renew calls for international support for the release of the remaining Chibok girls.

  • Repatriation of looted funds: EFCC proposes establishment of foreign offices

    Repatriation of looted funds: EFCC proposes establishment of foreign offices

    In a bid to fast-track tracing, recovery and repatriation of looted funds stashed abroad, the Economic and Financial Crimes Commission (EFCC) said it plans to set up anti-corruption desks in Nigerian foreign missions.

    Acting Chairman of the Commission, Ibrahim Magu, announced this on Tuesday in Abuja at a five-day induction programme for the 45 non-career ambassadors-designate.

    The EFCC boss expressed the belief that the move would complement the efforts of the government in the fight against corruption and recovery of looted funds.

    “To enhance international cooperation in the fight against corruption, we will propose the establishment of EFCC desk, with our operatives deployed to collaborate with other law enforcement agencies in our foreign missions.

    “They will assist in the investigation of crimes bordering on money laundering, cyber crimes, advance fee fraud and issues relating to asset recovery.

    “We can start with the posting of officers to U.S., UK, France, Italy, Switzerland, South Africa and Ghana in collaboration with the Federal Ministry of Foreign Affairs,” he said.

    Magu expressed concern that asset recovery process was time consuming, complex and required a great deal of resources, expertise and political will.

    According to him, the anti-graft agency has a strong network of law enforcement friends with INTERPOL, Metropolitan Police in UK, FBI in the U.S., among others.

    He said that the relationships had enabled the EFCC to often bypass long queues of bureaucracy to help each other in joint investigations and intelligence sharing.

    “This is evident in celebrated cases we have investigated and prosecuted abroad, especially in successfully tracing and recovering assets of ex-governors.

    “They include Joshua Dariye, DSP Alamieyeseigha and James Ibori as well as the fraudster Emmanuel Nwude,” he said.

    He reiterated the zero tolerance stance of President Muhammadu Buhari on corruption and urged the ambassadors-designate to join in the fight against corruption to save the nation and its unborn children.

    He said a chunk of Nigeria’s wealth had been stocked and hidden in foreign countries by highly placed persons which adversely affected the economic growth and advancement of the country.

    Magu said that the new ambassadors had a crucial role to play in the recovery of the funds.

    He said that the agency had already dispatched its operatives to some countries in that regard and challenged the ambassadors-designate to be of great assistance to the nation’s course.

    He charged them to work in synergy with international agencies such as the INTERPOL, FBI among others.

    “It is expected that as ambassadors and high commissioners, you will network with other countries’ embassies to assist in law enforcement activities aimed at tracing, freezing, confiscation and repatriation of stolen assets across jurisdictions,” he said.