By Raphael Jov, Abuja
The Executive Director of
Civil Society Legislative Advocacy Centre (CISLAC, Auwal Ibrahim Musa (Rafsanjani) says Nigeria will continue suffering from international scams and enormous wealth disappearing abroad if no effective prevention is put in place to reduce illicit financial outflows,which disappear in places like London, Dubai British Virgin Islands, among others.
Auwal who made the disclosure while addressing a press conference in Abuja said the enormous leak of the 2,100 suspicious Transaction Reports (STRs) shows how UK and US banks launder proceeds of corruption and organized crime while knowing that it is illegal.
“As in the past leaks, many Nigerian Politicians are flagged in these leaks as prominent ‘customers’ buying luxurious houses yachts and other luxuries for money stolen from Nigeria citizens”
“This case once again shows that we recover only insignificant fraction of assets while we continue losing billions.It must be noted that enablers such as prominent international lawyers, banks,tax advisers and others,are just as criminal as those that commit the stealing and have to be made accountable”.
CISLAC is calling on the National assembly to ensure that Nigeria is not sub change, as it is a double lose for Nigeria due to not having access to the stollen funds.
According to CISLAC, Nigerian public contracts, especially those in the resource sector, are shrouded in secrecy, as government officials who decide about the fate of Nigeria Economy do so without any accountability.
” Unless all government contracts, especially those concerning the oil sector, are made public, we will continue to lose billions of dollars monthly due to corruption, incompetency and international scams.” He said.
While commending the announcement made by the ministry of justice last week about the establishment of of the Database on recovered asset and central criminals justice information system, he noted that the long overdue action shall contribute to transparency in the recovery and management of stolen assets, which CISLAC has been advocating for since 2017 Global Forum for asset Recovery through numerous international and national advocacy events and research and policy papers.