…tasks CSOs on oversight to prevent mismanagement

By Gabriel Ewepu

ABUJA – THE Executive Director, Africa Network for Environmental and Economic Justice, ANEEJ, Rev David Ugolor, Tuesday, said Nigerians demand transparency and accountability on the utilization of recovered loots.

Ugolor in an opening remarks at the Civil Society Pre-National Asset Recovery Summit 2025’ with the theme ‘Asset Recovery and Management in Nigeria: A Review of Civil Society Participation an Engagement’, supported by the Foreign, Commonwealth & Development Office, FCDO, which also had in attendance government representatives, anti-corruption agencies, members of the media, civil society leaders, youth advocates, and other participants.

He also explained that the Summit was basically to address some burning issues, which include transparency, accountability, and asset management, which are at the forefront of national and global conversations.

He added that the summit is not just a discussion forum, but it is a catalyst for action, which serves three key purposes: Assessing Nigeria’s progress in asset recovery and management, highlighting successes, challenges, and areas for improvement.

He also disclosed that ANEEJ’s ongoing research, supported by FCDO, will be instrumental in shaping policy recommendations and advocating for stronger asset recovery frameworks ahead of the 11th Conference of States Parties (CoSP11) to the UNCAC.

While preparing for the National Asset Recovery Summit proposed by the Federal Ministry of Justice in March 2025, will ensure that civil society perspectives contribute meaningfully to shaping national strategies.

He said: “This gathering is not just another meeting, it is a strategic platform to strengthen our collective resolve in ensuring that recovered assets are effectively managed and transparently utilized for the benefit of the Nigerian people and sustainable national development.

“Today’s summit, supported by the Foreign, Commonwealth & Development Office (FCDO) Nigeria, takes place at a defining moment when issues of transparency, accountability, and asset management are at the forefront of national and global conversations.”

Meanwhile, the ANEEJ boss asserted that, “Nigeria has made significant strides in asset recovery, including landmark repatriations such as: $322.5 million Abacha loot in 2017, allocated to social investment programs. $311.8 million recovered in 2020 for key infrastructure projects. Additional funds retrieved from corrupt public officials, bolstering our anti-corruption efforts.

“These recoveries represent critical successes, but they also highlight the urgent need for stronger legal frameworks, institutional reforms, and sustained civil society oversight to prevent mismanagement and ensure that returned assets deliver real impact. The challenge before us remains vast.”

He further stated that, “The United Nations and African Union estimate that Nigeria lost nearly $40 billion to illicit financial flows between 2001 and 2010, contributing to the $148 billion stolen annually across Africa. This underscores the need for enhanced global collaboration, robust domestic policies, and active civic engagement in tracking and utilizing recovered assets.

“As many of you know, the Global Forum on Asset Recovery (GFAR) has set out 10 key principles emphasizing transparency, accountability, and the public benefit of recovered assets. While Nigeria has made commendable progress in adhering to these principles, we must work collectively to institutionalize best practices and foster a culture of accountability that ensures lasting impact.

In his call to Action, he said, “I urge all stakeholders; government agencies, anti-corruption institutions, civil society organizations, the media, and young advocates to actively engage in today’s discussions. Your insights, expertise, and recommendations are critical in shaping policies and mechanisms that will ensure that recovered assets are effectively utilized for the greater good.”

Meanwhile, in a keynote address, the Solicitor General and Permanent Secretary, Federal Ministry of Justice, Beatrice Jedy-Agba who was represented by the Assistant Chief State Counsel, Pere Ikuetemi, called for special courts that would handle corruption cases, therefore, charged judicial officials to fast-track corruption cases.

“Judicial officials fast-track and establish courts to handle asset recovery cases. Now, there are courts that are handling corruption cases in some jurisdictions in the country. Special courts can be assigned for asset recovery cases and these can also fast-track the ratification of these matters in court. Number three, international collaboration. Strengthening partnerships with foreign governments and financial institutions that are about transparency in asset management. Create a publicly accessible database of recovered assets and that is what the Tinubu administration is doing now.

“After the Asset Recovery Summit 2025, the database will be totally activated and it will be open at the level the public can also access it and journalists can access it. So, that one is in place will enhance transparency in asset management.

“Then, finally, public engagement and whistle-blower protection. Encourage citizens to report illicit wealth and protect whistle-blowers. I think the whistle-blowing policy, the whistle-blowing bill that is at the national level and wants to be part of the law, it will also help a lot in the jurisprudence of asset recovery.

“In conclusion, I want to state that enforcing asset recovery, legislations in Nigeria is critical in combating corruption and financial crimes while significant progress has been made, challenges remain.

“Strengthening frameworks, improving international cooperation and ensuring transparency in the management of recovered assets will enhance Nigeria’s efforts in asset recovery”, Jedy-Agba said.

On the sidelines of the summit, the Chairman, Human and Environmental Development Agenda, HEDA, Resource Centre, Olanrewaju Suraju, said, “It takes a whole lot of resources for government, both Nigeria and the international partners to recover many of these assets. and one of the things that has also been of great concern is the fact that some of these assets recovered are also subject to re-looting as well.

“I think we are still very far dealing with the issue of indecent financial flow because there are still several loopholes that are being exploited. And this is not only with Nigeria alone, this also affects many of the country of destination. It is good that the partnership on this is with the FCDO, which also works with the British government and is also part of the initiative of the British government to see how we can reduce to the barest possible minimum the flow of illicit funds from Nigeria to the UK.

“The focus for us is to prevent this from happening in the first place, and that is where the US and the UK would really come in because these are the two main destinations of illicit funds and assets from Nigeria.”