OpenLux desvela los nombres de todos los españoles con sociedades en Luxemburgo en busca de opacidad o ventajas fiscales infolibre.es - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from infolibre.es Daily Mail and Mail on Sunday newspapers.
…Over $700m Stolen Funds Returned To Nigeria In Four Years
The Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, has said that developing countries in Africa lose over $148 billion to corruption annually partly due to Illicit Financial Flows (IFFs).
Malami, who spoke at the International Conference on IFFs and Asset Recovery organised by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), also disclosed that over $700 million stolen funds from Nigeria has been returned to the country in the last four years.
He said, “Nigeria, through proactive and collaborative efforts with other countries has recovered and ensured the return of over $700 million from the United States, the United Kingdom, Bailiwick of Jersey, Switzerland, and Ireland in the past four years. We are still working with our international partners and other countries to ensure that all Nigeria’s assets that are identified are recovered.”
Illicit Financial Flows: Africa loses $148bn to Corruption Yearly, Says Malami channelstv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelstv.com Daily Mail and Mail on Sunday newspapers.
Chineme Okafor
The global Extractive Industries Transparency Initiative (EITI) and Open Ownership (OO) have set up a ground-breaking, cross-sector partnership with anchor funding from the BHP Foundation, to end the use of anonymous companies linked to corruption and mismanagement in the extractive sectors of Nigeria and other signatory countries.
The new initiative which is termed, ‘Opening Extractives,’ aims to make a dramatic and sustainable difference to the level of publicly-available information on the ownership of extractive companies in order to eliminate corrupt acts that can divert extractive industry revenue away from local communities.
By extension, it would strengthen the Beneficial Ownership framework which Nigeria has signed to publicly disclose the identities of owners of extractive operations in the country.