EFCC Laments Difficulty In Recovering Looted Assets - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
July 12, 2019
The Acting Chairman of the Economic and Financial CrimesCommission, EFCC Ibrahim Magu says illicit Financial Flows from Nigeria tofinancial privacy jurisdictions abroad are difficult to recover.
According to the Global Financial Integrity report, the illegalcash flows from Nigeria that ends up in such Safe Havens amounts to aboutseventeen billion dollars annually.
Magu who spoke at a round-table in Abuja to commemorate theAfrican Union Second Anti-Corruption Day, themed: Towards a Common African Positionon Asset Recovery decried that proceeds of corruption from Africa end up insafe havens across the globe.
He said unity among nations in the African continent iscritical in demanding the recovery and return of stolen assets.
The EFCC Boss stated that Africa has come to the realizationthat one person, continent, agency or country alone cannot fight corruption andwin.o:p>