Why we can’t repatriate stolen funds – Magu

The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, on Friday decried the difficulties being experienced in the repatriation of stolen assets traced to foreign countries.

A statement by the commission’s Acting Spokesman, Mr Tony Orilade, quoted Magu to have expressed the concern when Mr Joe Abah, Country Director of DAI Nigeria, visited him in his office.

DAI is an international development firm implementing programmes covering governance, in more than 100 countries worldwide.

While appealing to the international law enforcement agencies to assist the agency in this regard, Magu said the process of repatriating monies stashed abroad has been very frustrating and disappointing.

“Yet, we have done everything possible, gone out of our way to encourage our sister agencies, but cooperation is almost nil.
“We have been investigating a number of cases for over four years working with the Federal Bureau of Investigations, National Crimes Agency and even the Crown Prosecution Service.
“We have done everything possible, gone out of our way to encourage our sister agencies, but except there is a third party involved there is no cooperation.
“We are willing to go outside this country to give evidence, and to share the intelligence that we have.
“The next level in the corruption fight is promising, there is political will and we are going to be daring,” NAN quoted him as saying.