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Why We Can’t Repatriate Stolen Funds – Magu

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The interim president of the Commission on Economic and Financial Crimes (EFCC), Ibrahim Magu, denounced on Friday the difficulties experienced in the repatriation of stolen assets traced to foreign countries.

A statement by the interim spokesperson for the commission, Mr. Tony Orilade, quoted Magu for expressing concern when Mr. Joe Abah, Country Director of DAI Nigeria, visited him in his office.

DAI is an international development firm that implements programs that cover governance in more than 100 countries worldwide.

While appealing to international law enforcement agencies to help the agency in this regard, Magu said the process of repatriation of money hidden abroad has been very frustrating and disappointing.

“However, we have done our best, we have done our best to encourage our sister agencies, but the cooperation is almost nil.

“We have been investigating several cases for more than four years working with the Federal Bureau of Investigation, the National Crime Agency and even the Crown Prosecution Service.

“We have done our best, we have done our best to encourage our sister agencies, but except that there is a third party involved, there is no cooperation.

“We are willing to leave this country to give evidence and share the information we have. “The next level in the fight against corruption is promising, there is political will and we will be bold,” said NAN, as quoted.