Nigeria Recovers Over $5bn In 25 Years – CISLAC

The Civil Society Legislative Advocacy Centre (CISLAC) has reported that Nigeria has successfully recovered more than $5 billion in assets over the past 25 years.

CISLAC’s Executive Director, Auwal Ibrahim Musa (Rafsanjani), announced this Tuesday in Abuja during the launch of six assessments regarding the national implementation of the Common African Position on Asset Recovery (CAPAR).

Musa highlighted Nigeria’s significant contributions to addressing asset recovery challenges in Africa and the West African region.

He noted that the country has formed alliances with other nations to ensure a coordinated African effort to retrieve and repatriate assets to the continent.

Despite these achievements, he emphasised that much work remains to be done, particularly in engaging citizens and civil society. Musa pointed out the lack of frameworks, such as whistleblower protection channels, essential for allowing citizens to report corruption-related issues effectively.

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While acknowledging improvements in the process, he stressed the need for better management of recovered assets, which remains a significant challenge. He recommended effectively implementing the Proceeds of Crime (Recovery and Management) Act of 2022 To address this, he recommended effectively implementing the Proceeds of Crime (Recovery and Management) Act of 2022to address.

Musa urged the government to strengthen its engagement with citizens and civil society, establish legal frameworks for whistleblower protection, and provide additional channels for reporting corruption.

The Common African Position on Asset Recovery (CAPAR) represents a significant milestone in the African Union’s strategy for recovering assets that have been illicitly taken from the continent. Adopted in February 2020, CAPAR outlines international, regional, and national recommendations to enhance African asset recovery efforts.