In line with the Nigerian government’s continuous fight against corruption, the Chairman of Economic and Financial Crimes Commission (EFCC), has called for the assistance of global community in the restoration of stolen funds into their respective countries.
The Chairman of Economic and Financial Crimes Commission, AbdulRasheed Bawa, made this call recently at the 32nd UN General Assembly Special Session (UNGASS) and first-ever UNGASS against corruption.
Speaking to over 190 representatives of different countries at the General Assembly tagged, ‘Challenges and Measures to Prevent and Combat Corruption and Strengthen International Cooperation’, Bawa said that Nigeria, being one of the nations of the world that have lost a huge amount of money through illegal means, solicits for the restoration of stolen funds.
Also calling for measures to eradicate the endless flow of illicit funds to developed countries, Bawa further urged governments globally to put in place the process of operational money laundering procedures and to be committed to transparency and accountability in public spending.
He said, “Now more than ever, governments at all levels must rise to their responsibilities and continue to commit to transparency and accountability in public expenditure. Measures must be introduced to mitigate the continuous flow of illicit funds from least developed to developed countries.”
In order to facilitate the return of stolen funds to their respective nations, the EFCC boss appealed to the international community to simplify the requirements for timely recovery.
Mr. Bawa in conformity with the recommendation of the High-Level Panel Report on International Financial Accountability, Transparency, and Integrity for Achieving the 2030 Agenda (FACTI Panel), also asked for a multidimensional approach in addressing illicit financial flows.