Malami Seeks Foreign Collaboration To Block Illicit Financial Flows

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN has said that nations need to cooperate so as to stop the unlawful movements of money or capital from one country to another.

Malami made this known during the International Conference on Illicit Financial Flows (IFFS) and Assets Recovery program organised by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which held between 18th and 19th May, 2021 in Abuja.

THE WHISTLER earlier reported that Malami had on Tuesday revealed that the federal government had recovered over $700m from the United States, the United Kingdom, Switzerland, and Ireland, in the last four years, adding that more could be achieved with international support.

In a statement by his spokesperson, Dr. Umar Jibrilu Gwandu, Malami, the AGF further called for consensus building and multilateral approach amongst nations as way of addressing the challenges of illicit financial flows.

“There is no doubt that international and regional cooperation is key in achieving this goal as no one country can do it. Therefore, we must all work together. This is what the Financial and Accountability, Transparency and Integrity (FACTI) Panel’s report released in February 2021 is telling us.

“How we meet the recommendations of the panel in order to achieve the 2030 Agenda for sustainable Development is a global and regional challenge,” he said on Wednesday.

The AGF who was represented by Special Assistant to the President on Justice Reform and International Relations, Mrs. Juliet Ibakachukwu, said the recovery of looted fund would be channeled toward the development of critical sectors in Nigeria.

The development is coming after the FG said it had received about £4,214,017.66 looted by former Delta State Governor, James Ibori, and his associates.

The funds have been earmarked for the Second Niger Bridge and other projects.