From Abdullahi Alhassan, Kaduna
The Civil Society Legislative Advocacy Centre (CISLAC) and Transparency International Nigeria (TI Nigeria) have commended the United Kingdom government for its role in combating corruption and illicit financial flows following the recovery of $9.5 million in stolen Nigerian assets.
In a statement signed by the Executive Director of CISLAC and Head of Transparency International Nigeria, Comrade Auwal Musa Rafsanjani, the organisations described the recovery as a positive demonstration of international cooperation consistent with Nigeria’s Proceeds of Crime Act (POCA), 2022.
According to CISLAC and TI Nigeria, POCA provides Nigeria with a comprehensive legal framework for tracing, freezing, confiscating, managing, and recovering proceeds of crime, both within the country and from foreign jurisdictions.
The law remains Nigeria’s principal instrument for ensuring that criminals do not benefit from corruption or other financial crimes, particularly funds looted and concealed abroad.
The organisations added that the latest recovery underscores the importance of mutual legal assistance and cross-border collaboration, which are central objectives of POCA, describing such cooperation as critical to strengthening Nigeria’s asset recovery efforts and deterring illicit financial flows.
While welcoming the return of the stolen funds, CISLAC and TI Nigeria expressed concern over the utilisation and management of recovered assets.
The statement noted that despite significant asset recoveries over the past decade, Nigerians continue to experience limited access to information on how recovered funds are deployed.
The organisations stated that citizens remain dissatisfied with the level of transparency surrounding recovered assets, stressing that civil society groups have developed accountability frameworks aligned with POCA to prevent re-looting and ensure recovered funds are used for the public good.
CISLAC and TI Nigeria emphasised that Nigeria must focus not only on recovering looted funds but on blocking lapses that allow theft in the first place.
With estimated annual losses of $18 billion, the country cannot rely on recovery efforts alone. Financial institutions and systems must be thoroughly sanitised to prevent looters and ensure that taxpayers’ money does not exit the country illegally.
The statement noted that Nigeria accounts for a large percentage of illicit financial flows in Africa, and allowing this situation to continue directly contributes to poverty and deficits in infrastructure development.
Strengthening accountability, transparency, and enforcement would protect national wealth, restore international confidence, and reduce the negative perception of Nigerian citizens globally.
Key accountability measures required to guarantee transparency include independent monitoring and oversight of recovered assets, public disclosure of Memoranda of Understanding guiding asset repatriation, and clear information on where and how recovered funds will be spent.
CISLAC and TI Nigeria emphasised that recovered assets should be lodged in dedicated accounts to enable proper tracking and accountability.
The organisations welcomed the latest recovery and urged the Nigerian government to fully implement the Proceeds of Crime Act and honour its commitments under the Global Forum on Asset Recovery.
The statement called for independent oversight by the National Assembly to ensure that recovered funds are effectively traced, tracked, and measured in line with POCA’s objectives.
CISLAC and TI Nigeria highlighted ongoing challenges faced by civil society organisations, particularly limited access to timely and accurate information on recovered assets.
The groups urged the government to improve transparency by providing clearer and more consistent data, noting that openness would also help counter misinformation, rumours, and fake news.
The statement urges the government to prioritise the effective implementation of the Proceeds of Crime Act, strengthen institutions, block financial leakages, and prevent looting to safeguard public resources and ensure that recovered assets deliver tangible benefits to Nigerians.