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Britain To Reveal Properties That Belong To Nigeria Very Soon

Posted: 04 April, 2017 at 11:04 am
Britain To Reveal Properties That Belong To Nigeria Very Soon
Britain To Reveal Properties That Belong To Nigeria Very Soon Photo 1

The Nigerian Executive Secretary of PACAC (Presidential Advisory Committee Against Corruption), Bolaji Owosanoye disclosed that the British Government plan to unveil the information about properties which belong to Nigeria in their country.

He said that the governments of both countries are working together to fight against corruption in Nigeria.

According to Bolaji's statement “There's no doubt that rogues in government oppress and impoverish their people by corruption and this must be sanctioned by collective action.

“We need to make sure that there is no safe haven for corrupt officials to run to. Britain has promised that by 2018, she will provide Nigeria with the information about who owns what and where; that's very helpful.

“These include all the houses that have been bought by public officials or accounts that are held by public officials on which they are right now not paying taxes or which they cannot explain the sources.

“So if you cannot buy a house in England, you have to look for somewhere else. But if all countries criminalise this, then it becomes much more difficult unless you want to buy the house on Mars,” the Secretary said.

Mr. Bolaji explained that some African countries who are affected by illegal economic surge must confront other developed countries to help in banning illegal economic surge from their countries.

He said that British research records shows that 60% of capital flight from African to their country comes from Nigeria.

Mr Bolaji stated: “Receiving states – the countries of the North – need to be proactive to block the proceeds of crime even before a request is made by victim countries.

“This is because, in many situations, it is clear that illegality is taking place.

“We think that reversing the burden of proof to improve the confiscation of criminal proceeds of crime would help, especially when we are going after the asset and not necessarily the person.

“If the person who claims to own the asset would not cooperate in giving information, then this should be a point in favour of the state,” he said.

He also mention the case of ex-managing director of NNPC (the Nigerian National Petroleum Corporation) who was guilty of stealing over 70 million of naira from the Nigerian government.

He lamented saying: “A former Managing Director of the NNPC was found with nine million dollars cash and over 70 million naira in his house in a small place he has built.

“He said the money is a gift. He was asked if he could tell the very generous angels who gave him this money.

“He's not been able to provide that information. That sort of disposition should be used to penalise a claimant of asset who cannot justify the origin of the asset.

“The proposed “Unexplained Wealth Order in England,” which hopefully we were told would pass through the legal process this year, should really help to deepen the conversation in this regard.

“It (Unexplained Wealth Order) would help to quickly recover assets,”

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The problem still remain with some of those fighting corruption. - Sandra Chinasa
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