Stolen Fund: Magu Begs UK

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The acting Chairman, Economic and Financial Crimes Commission, Ibrahim Magu, has appealed to the British Government to assist Nigeria with the repatriation of stolen money stashed in banks in the United Kingdom.

Magu made the appeal while receiving a delegation from the UK’s Serious and Organised Crime Joint Analysis for West Africa at the EFCC’s headquarters, Abuja.

The acting EFCC spokesman, Tony Orilade, in a statement on Friday, said Magu expressed worries that the wealth of the country had for a very long time remained trapped in foreign countries, thereby hindering infrastructural development of the country.

Nigeria, he said, would have been better if the stolen money had been returned.

The EFCC boss said, “Our worry is that our money has been held for a very long time in foreign countries and if our money is returned, there will be improved infrastructural development in many sectors of the economy. If all the repatriated funds are pumped into the country, it will significantly enhance our abilities and capabilities.”

The leader of the SOCJA delegation from National Crime Agency, UK, Paddy Kerr, disclosed that the visit followed the directive  from the British Government that each team under SOCJA should go to every region in the world and get the picture of their peculiar organised crimes.

“We need to understand from the EFCC’s perspective, what is driving crimes and corruption in Nigeria. What are the key things EFCC is doing that British can assist?” Kerr asked.

EFCC has been consistent in saying UK has been too slow in helping Nigeria recover the looted funds.

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