The Civil Society Legislative Advocacy Centre (CISLAC) has revealed that Nigeria recovered over 5 billion United State dollars in the last 25 years in recovery of stolen assets.
The Executive Director of CISLAC, Auwal Ibrahim Musa (Rafsanjani) made this known while briefing the media and also the launch on Six Assessments of National implementation of the Common African Position on Asset Recovery (CAPAR) in Abuja.
Rafsanjani said Nigeria has established alliances with other nations, to guarantee a unified African effort to retrieve and repatriate assets to the continent.
The Executive Director hinted that there is also still more work to be done in terms of engaging citizens and civil society, particularly considering the absence of frameworks such as whistleblower protection channels that will enable citizens to disclose issues related to corruption appropriately.
He said while there has been improvement, it is crucial to note that adequate management of these recovered assets is still required, and this has proven to be a significant problem asshas significantly contributed to asset recovery challenges in Africa and the West African sub region.
CISLAC Boss urged government enhance engagements with citizens and civil society, Enactment of a Whistleblower Blower Protection legal frameworks as well as other whistle blower protection channels, amongst others .
“The Common African Position on Asset Recovery (CAPAR) is a milestone in the African Union’s approach to the recovery of assets stolen from the continent. It sets out international, regional and national recommendations to enhance asset recovery.
The CAPAR, adopted by the African Union in February 2020, is a policy framework supporting the recovery and repatriation of African assets illicitly moved to foreign jurisdictions.
The framework provides national and continental-level guidelines for identifying, reclaiming, and managing recovered assets in a manner that upholds African sovereignty.
CAPAR is recognized as essential to strengthen domestic and cross-border recovery efforts within Africa Rafsanjani explained
The CISLAC ED recommended that while there has been improvement, it was crucial to note that adequate management of recovered assets is still required and this can be done through effective implementation of the provisions of the Proceeds of Crime (Recovery and Management) Act, 2022.
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