The walk against corruption. Economic and Financial Crimes Commission(EFCC), South East Zone. Africans Must Unit Against Illicit Assets. The Occasion of The 3rd Anti Corruption Day, 11th July 2019. THE THIRD AFRICAN ANTI-CORRUPTION DAY, EFCC.

Today traces the history to a series of events leading to an African Union Convention on Preventing and combating corruption. The THE THIRD AFRICAN ANTI-CORRUPTION DAY, EFCC.

This is first adopted in Maputo, Mozambique on July 11, 2003. In cognizant of this, the African Union adopted 11th July as the Anti-Corruption Day. This year will mark the third edition of the Anti-Corruption day under the theme “Towards a common African
Position on Asset Recovery”.

The host, EFCC (Economic and Financial Crime Commission) Enugu Zonal office and the following bodies:

*Civil Defence,
* The Nigerian police,
* NDIC (Nigeria Deposit Insurance Corporation)
*NCC (the Nigerian Copy Right Commission),
*The Nigerian Army

*The Nigeria Air Force,
*The Nigeria Custom,
* DSS (Directorate of State Security),
* The Nigerian Human Right Commission.

Asset recovery has thee main elements-identification, redeployment, and divestment.

This is to bring together all relevant anti-corruption stakeholders. Both domestic and international, to reflect on the challenges of asset recovery in Africa and solicit.
For contribution and support towards developing a framework for an African Common position on Asset Recovery.
The objective is to create awareness and engages the citizens in the asset recovery effort.

In Nigeria, just like every other African country making the occasion, we have been served with a very high dosage of the poison called corruption. But unlike other countries, Nigeria has one of the most far-reaching a deeply entrenched culture of corruption in the continent, if not the world.

Internationally, it is an effort by the government to repatriate the proceeds of corruption hidden in the foreign jurisdictions. Such asset may include monies in bank account, real estate, vehicles, cars and artefacts, and precious metals. As defined under the Unit Nation Convention against corruption. asses recovery refers to recovering the proceeds of corruption, rather than broader terms such as asset confiscation or asset for future which refer to recovering the proceeds or instrumentalities of crime in general.

According to the High-Level Panel on Illicit Financial Flows(IFF). The African continent is losing in excess of $500 billion a year through illicit financial outflows.
A large portion of these outflows is made up of illegally acquiring an asset that is located all over the world. Asset tracing, freezing, confiscation, management eventual separation is a long and complex
a process which eventually uses away from the benefits from crimes eventually serves as a deterrence to IFF.

Heads of Anti-Corruption Agencies in Africa have persistently sought for the support and collaboration of the Global community in repatriating stolen assets back to African countries. The need to strengthen international cooperation amongst the anti corruption agencies in Africa. For The purposes of developing an African common position framework on asset recovery and return can therefore not be overemphasized.

The government of the President; Muhammadu Buhari, has particularly made the fight against corruption in Nigeria and the recovery of the stolen asset. A key agenda of his administration. This has translated to significant recoveries of looted assets that were acquired through mismanagement of public funds. Over the past four years, the Nigerian government has advocated for the return of its stolen assets from foreign jurisdictions with lax AML/CFT regime.

It is expected at the end of the programme. That issues on “A common African Position on Asset Recovery” will be tackled. As well as draw up a whitepaper implementation strategy in the continent to guide on the fight against corruption cum asset recovery.

Also, it will essentially address the following issues;

  • Identify relevant stakeholders: LEAs, institutions, organizations, civil society organizations, international development partners, embassies of reevant countries, financial instititios and NDFBPs (especially NPOs). To this, that will serve on the committee for developing framework towards a common African position on Asset revovery.
  • And to bring an end to unnecessary conditionality for asset recovery.

All these are in recognition that our people suffer the most from the loss of financial assets.

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