It has been revealed that between eighty-eight billion and ninety-four billion dollars is stolen annually from Nigeria and other African countries.
The Director General Inter-Governmental Action Group against Money Laundering in West Africa, Edwin Harris, disclosed this in a speech at the asset recovery and management in Nigeria engagement, organised in collaboration with the Centre for Fiscal Transparency and Public Integrity in Abuja.
Represented by Tim Melaye, the Director General who lamented the level of stolen wealth in Africa, however called for collaboration to facilitate the return of all stolen funds back to the continent.
On his part, the executive secretary of Centre for Fiscal Transparency and Public Integrity, Dr Umar Yakubu, said asset recovery is pivotal to the nation’s development and the trust-building among citizens.
Panel discussants, including the country director of Transparency International Nigeria, Auwal Rafsanjani, representatives from ICPC, EFCC, and the Code of Conduct Bureau, and moderator Emmanuel Akomoye, the pioneering secretary of EFCC, urged the need for improved asset recovery mechanisms in Nigeria and across Africa.