Vice-President Yemi Osinbajo on Thursday lamented that the tracing and returning of stolen assets had become difficult for most African countries.
He attributed the phenomenon to lack of the adherence to the rules promoting transparency in international banking and financial systems.
He said corruption directly fuelled the activities of Boko Haram insurgents in the North-East of the country.
Osinbajo reportedly said this in his remarks at the anti-corruption and integrity forum of the Organisation for Economic Cooperation and Development in Paris.
The Vice-President called for a robust framework on the reparation of stolen assets in order to ‘ensure quick restitution to victim countries’.
He said, “Tracing, freezing and return of stolen assets has proved in many cases to be exceptionally difficult for most African countries.
“We, in Nigeria, have seen just how difficult it is to get back stolen assets from the international financial system, such as banks that ought not to have received those funds in the first place if even the most routine questions were asked.
“A robust global framework on repatriation of stolen assets which ensures quick restitution to victim countries is long overdue.
“There is a consensus that corruption and illicit financial flows out of Africa, inexorably delay the attainment of development goals, worsen practically all human development indices and trap the majority of her people especially the most vulnerable in a cycle of misery.
“Only a united global action has the power to reverse this trend. We respectfully urge that this power be exercised more vigorously and without further delay.”
According to a copy of the speech made available by the Presidency, the Vice-President said it was no longer in doubt that corruption and illicit financial flows constitute grave challenge to development.
He said corruption fuelled terrorism in the North-East, invariably leading to serious humanitarian disaster.
Osinbajo said, “There is now hardly any credible opposition to the notion that corruption and illicit financial flows constitute, perhaps, the gravest challenge to development. And this is especially true of developing countries.
“Besides, we have seen in Nigeria, in recent years, how corruption directly fuelled the insurgency in the North-East. And how, in turn, that has led to one of gravest humanitarian disasters in the world.
“Also, the adverse implications for education, health care, social services, infrastructure and, indeed, quality of life no longer require making a case.
“Corruption and illicit financial flows are different. But they really must be twinned. This is because for practical purposes, it is an eminently more sensible approach to treat most of the sources of illicit financial flows as corrupt activity within a broader use of the term.”
The Vice-President noted that it is also clear that most economies ravaged by corruption, usually both as a cause and consequence, do have institutions that are too weak to fight corruption and illicit financial flows.
He made a case for international collaboration which he said remained the smartest and most effective approach to apprehend and deter perpetrators, and ensure restitution of stolen assets.
Osinbajo said in West Africa, efforts towards regional cooperation against graft was under way.
He said the draft ECOWAS Common Investment Code of 2013 backed a treaty allowing an exchange of information within the fiscal authorities of the various jurisdictions.
Osinbajo added, “The treaty would also identify tax havens and examining their taxable basis, rates and fiscal administration through the establishment of a regional body in accordance with the ECOWAS Revised Treaty.
“Before I left Abuja yesterday (Wednesday), our cabinet ratified a treaty on the ECOWAS Tax Administration Forum, which would open the way for greater cooperation among West African states in the exchange of tax information.”
#EndSARS: People take time out to curse me in their prayers– Aisha Yesufu Reveals
Nigerian activist, Aisha Yesufu, has revealed that Muslims now take out time to curse her in their prayers.
Information Nigeria recalls that Yesufu lead #EndSARS campaign against police brutality and reforms.
The female activist disclosed this on her Twitter handle.
”Heard I am being cursed in mosques! People finish praying and take time out to curse me in their prayers I have asked they should please let me know how many of these curses they rained on me when I was making same demands during GEJ! We are all already cursed in Nigeria”
Heard I am being cursed in mosques! People finish praying and take time out to curse me in their prayers
I have asked they should please let me know how many of these curses they rained on me when I was making same demands during GEJ!
We are all already cursed in Nigeria
— Aisha Yesufu (@AishaYesufu) October 30, 2020
Hoodlums loot Ndoma-Egba house in Calabar, cart away his late father’s robes
Hoodlums who destroyed and looted the residence of former leader of the Nigerian Senate, Victor Ndoma-Egba in Calabar reportedly carted away the Judge’s robes of the politicians’ father.
Reacting to the incidence, Ndoma-Egba appeared to the hoodlums to return the robes of his late father who was a judge.
Ben Ayade, governor of the state, had imposed a 24-hour curfew as part of measures to contain the situation but the mob broke loose.
In a statement, Ndoma-Egba narrated how he got intelligence on the attack but despite informing security agencies, “nothing was done to stop the attack”.
“At about 2 am (local time, as I was abroad) on Saturday 24th. October 2020 I received a text informing me that there were plans by arranged hoodlums to attack my residence in Calabar, that of Senator Gershom Bassey and a hotel owned by Senator John Owan Enor,” he said.
“I promptly forwarded the texts to Senators Bassey and Owan Enoh. I also called the security agencies in Calabar to apprise them of the information. Calabar from my information was already tense from the previous day’s break-in into warehouses storing COVID 19 palliatives and the subsequent breaching of shops and other businesses. The impending attack on Senators Bassey, Owan Enoh and I was already public knowledge as later that morning I got many calls to that effect.
“Thereafter I kept calling the security agencies by the hour when in spite of their assurances that they will secure my house there was no evidence of any security personnel in my vicinity. I understand, the times were indeed confounding for everybody.
“At about 2 pm the intruders broke into my house and looted it to the ground leaving only the bare floor. All the toilets, baths, pumps and indeed every imaginable fitting were removed as were items of furniture, clothing, a huge collection of mainly rare, out of print books, documents and historic photographs. They also removed all the windows, railings, family pictures and burglary proofs. Even my private chapel was not spared.
“They set the cars ablaze and parts of the building after more than four hours of interrupted operations in my house. It was methodical. Among the intruders were obviously electricians, plumbers, carpenters, motor mechanics, panel beaters and other tradesmen. Mercifully, no life was lost. I started building the house in 1991 and moved in in January, 2009.
“While not prejudging, and without prejudice to the work of the security agencies, I have forgiven the intruders, and pray fervently for them to find meaning, inner peace, and fulfilment in their lives. I only plead that they return my late father’s judges robes which they certainly would not be needed for anything and is surely incriminating.
“The destruction of my house was clearly premeditated, wanton and unjustifiable but I understand the anger in the land especially amongst our youths. However, if looting and burning my home will better their lives and bring positive change to our land, then it is a sacrifice my family and I gladly make.”
Ndoma-Egba said there is an urgent need to educate, motivate and engage the youth if they must be a blessing to the country.
Fan asks Kaisha to meet Erica for lessons on how to become a bad girl
Nigerian entrepreneur Kaisha Umaru who shot to fame after she appeared on Big Brother Nigeria 2020 has replied a fan who advised her to meet Erica for lessons on how to become a bad girl.
Kaisha Umaru, the 25-year-old entrepreneur from Sokoto State had taken to Twitter to ask her fans how she can become a bad girl. The ex housemate stated that she needs lessons, and her fans suggested different ways for her.
However, a particular fan advised her to meet her fellow reality TV star, Erica Nlewedim who was disqualified from the last season of the Big Brother reality show.
“Ask Erica she’ll give you lessons on how to be a good and bad girl”, Kheeks wrote.
Check out Kaisha’s reaction below;
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