By Oluwakemi

Yesterday, the Federal Government signed a Memorandum of Understanding (MoU) with the British Government, stating the modalities for the return of Nigerian stolen assets in the United Kingdom.

According to the News Agency Of Nigeria (NAN), the Attorney-General of the Federation, Abubakar Malami, signed the MoU on behalf of the Federal Government in Abuja.

While signing, Malami  outlined the objectives of the MoU to include the fact that the processes of returning stolen assets was a partnership recognising the interest of both countries and based on mutual understanding, confidence and trust.

The MoU stated; “that both countries recognised that they have a mutual interest in ensuring that returned assets are not at risk of being misappropriated again.”

“And that both countries recognised they have obligations toward their own citizens for providing such assurances.”

“That both countries recognised the importance of ensuring that the highest possible standard of transparency and accountability are applied for the return of assets.”

He gave the assurance to the international community that all funds recovered would be judiciously utilised for projects that would benefit the poorest segment of the Nigerian society

In his speech, eader of the UK delegation, British Minister of State for Immigration,Robert Goodwill, noted that the MoU provided the mechanism by which  stolen monies in the UK could be returned to Nigeria.

Goodwill, who is also a member of the British Parliament, noted that there was no safe place for stolen assets in the UK.

“Our ability to recover and return stolen assets should send a clear message to all who may seek to habour such assets that there is no safe haven in the U.K,” he said.

According to him, the British government is committed to the return of all funds looted from the Nigerian State.

“We are keen to do this as soon as the necessary legal process allow. As outlined at the summit, we will be taking steps to accelerate the procedures for identification and confiscation of illegally acquired assets,”

The delegation also signed an MoU on the return of illegal immigrants.