President Buhari To Trace Looted Funds To UK, Germany, Others

The Federal Government has started tracing looted Nigerian funds to foreign nations with the aim of recovering and repatriating them.

The Federal Government specifically targets the United States, the United Kingdom, France, Switzerland and other European jurisdictions where it believes corrupt officials have been stashing public funds.

This move came on the heels of the declaration by President Muhammadu Buhari on his first day in Aso Villa office that he inherited an almost empty treasury from his predecessor, Dr. Goodluck Jonathan, thus vowing that his administration would recover all the looted funds stashed in foreign banks by corrupt Nigerians.

“The next three months may be hard, but billions of dollars can be recovered, and we will do our best,” the President was quoted as saying in a statement signed by his Special Adviser on Media and Publicity, Mr. Femi Adesina.

Some of the countries where looted funds from Nigeria have been kept in the past include Liechtenstein, Luxembourg, Switzerland, the United Kingdom and the United States. Others are France, Germany, British Virgin Islands and other tax havens spread across the globe.

Adesina, who confirmed the move in an exclusive interview with Saturday PUNCH on Thursday, said, the search for the looted funds will not be limited to these countries but anywhere in the world where they may be hidden.

He said, “The search will not only cover UK, US, Switzerland, Germany and other known havens for Nigerian looted funds but will cover everywhere under the sun. Anywhere and everywhere that the looted funds are, we have an assurance from the United States of America to assist us to repatriate these funds from anywhere under the sun.”