Buhari Tracing Nigerian’s Looted Funds | Independent Newspapers Limited
Newsletter subscribe


Buhari Tracing Nigerian’s Looted Funds

Posted: Jun 27, 2015 at 11:59 am   /   by   /   comments (0)

•Focuses On U.S, UK, France, Switzerland

THE Federal Government has started to trace looted Nigerian funds to foreign nations with the aim of recovering and repatriating them.

Daily Independent gathered that the government is specifically targetting the United States, the United Kingdom, France, Switzerland and other European nations where it believes corrupt officials had been stashing away public funds.

The search followed the declaration by President Muhammadu Buhari on his first day in Aso Villa office that he inherited an almost empty treasury from his predecessor, Goodluck Jonathan, thus vowing that his administration would recover all the looted funds stashed in foreign banks by corrupt Nigerians.

“The next three months may be hard, but billions of dollars can be recovered, and we will do our best,” the President was quoted as saying in a statement signed by his Special Adviser on Media and Publicity, Femi Adesina.

Some of the countries where looted funds from Nigeria had been kept in the past include Liechtenstein, Luxembourg, Switzerland, the United Kingdom and the United States.

Others are France, Germany, British Virgin Islands and other tax havens spread across the globe.

Adesina, who confirmed this to newsmen at the weekend, said the search for the looted funds would not be limited to these countries, but anywhere in the world where they may be hidden.

According to him, “The search will not only cover UK, US, Switzerland, Germany and other known havens for Nigerian looted funds, but will cover everywhere under the sun. “Anywhere and everywhere that the looted funds are, we have an assurance from the United States of America to assist us to repatriate these funds from anywhere under the sun.”