June 18, 2018

 Corruption: PACAC proposes asset recovery strategy

 Corruption: PACAC proposes asset recovery strategy

By Jeremiah Urowayino

In a bid to fulfil the promise of United Nations Convention Against Corruption (UNAC) to the  people of Nigeria, the Presidential Advisory Committee against corruption has proposed an asset recovery strategy to strengthen the fight against corruption in the country.

PACAC made this disclosure in a statement signed by its communication officer, Mr.  Aghogho Agbahor, noting that ‘’ return of stolen and illicit assets is an important component of the United Nations Convention against corruption.

According to Agbahor,  Article 51 of the convention makes return of illicit assets to the victim states a fundamental principle of the convention and obligates state parties to afford one another the widest measure of cooperation and assistance in that regard.

”the aim of UNAC is that  victim states should  establish clear and transparent legal, policy or administrative mechanisms to facilitate the recovery and return of illicit assets back to countries of origin and to apply such assets for priority projects for the benefit of the people whose assets were plundered.

“the information sharing and international cooperation provided by UNAC   will facilitate the investigation and prosecution of corruption and the speedy recovery of illicit assets to countries of origin.

”The strategy recognizes that a robust assets recovery regime will assist the rejuvenation of the economy, ensure reduction of poverty, lead to the creation of jobs and expansion of social safety nets for the welfare for people of Nigeria” he added.