AU Member-states Set To Implement Asset Recovery Policy

African Union (AU) member states have agreed to implement Africa’s Asset Recovery Agenda (CAPAR).

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) spokesperson, Azuka Ogugua said the commitment of AU member-states to the implementation of Africa’s Asset Recovery Agenda is one of the major outcomes of the high-level technical meeting on the frameworks for its implementation held in Addis Ababa, Ethiopia.

She also said an extended Common African Position on Asset Recovery (CAPAR) working group, with more African Union (AU) member-states including Nigeria, Democratic Republic of Congo (DRC), Malawi and Senegal had joined pan-African institutions mandated by the AU Assembly to actively further the implementation of CAPAR.

The ICPC said at the meeting which had top government officials and heads of anti-corruption and asset recovery agencies in attendance, the aforementioned countries agreed through their respective missions and representatives to propagate CAPAR, unify its messaging and deliver necessary political support to its implementation frameworks, as well as its proposed protocol and model agreements.

The high-level meeting, which was jointly organised by the African Union and the Coalition for Dialogue on Africa (CoDA), reviewed strategy documents that focused on the legal framework for the recovery of African assets and the proposal on the setting up of an escrow account for African assets.

The meeting also made valid proposals to address key legal issues that African States face in recovering illicit financial outflows and stolen assets.