UN, ECA seeks unconditional repatriation of Africa’s stolen money from the Western nation

stolen assetsAfrican leaders have not been good to Africa itself. The continent suffers from physical tangible infrastructural development due to corruption, looting of its resources by greedy public politicians and leaders.

Mr. Adeyinka Adeyemi, the Senior Adviser at the UN Economic Commission for Africa (ECA) has called for the unconditional return of assets stolen from Africa by some developed countries.

In Nigeria alone, Nigeria’s Information Minister, Chief Lai Mohammed disclosed sometimes in January 2016 that Nigeria had lost N1.34 trillion ($6.8 billion) in stolen public funds between 2006 and 2013.

Mr. Adeyinka Adeyemi, the Senior Adviser at the UN Economic Commission for Africa (ECA) informed pressmen in New York that it was unlawful, evil, and unprofessional for the West to attach frivolous conditions to the return of Africa resources and assets stolen from the Africa.

“It is not only unrealistic, it’s unethical. You cannot ‘steal money’ and attach condition to a return.

“You cannot do this; this is immoral. Nowhere in the world would this be even entertained. I think what they are talking about is the governance issue.

“The same thing I was saying that ‘no this money if we return to Africa, anyway you people will mismanage it’, ‘you people would do this’, ‘you people would steal it’; all these baseless things.

“This may be an issue, it may be good and people should consider this very seriously so that they know the world is watching but that cannot be a condition to hold on to the money.

“This is where we are very vigorous about. You take the money, we would track it; we would make sure that we get back our money.

“Now, we thank you for calling attention to excesses in terms of governance or challenges in terms of development. That is fine; it’s another issue that should be done.’’

A report by the World Bank’s Stolen Asset Recovery (StAR) programme found that, while nearly $1.4 billion in suspected corrupt assets were frozen in countries of the Organisation for Economic Co-operation and Development (OECD) between 2010 and 2012, less than $150 million was returned.

Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation with 35 member countries, established in 1960 to stimulate economic progress and world trade.

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