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SERAP Urges Trump To Return Stolen Assets, Ban Corrupt Officials

by Olugbenga Soyele
8 months ago
in News
SERAP
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The Socio-Economic Rights and Accountability Project (SERAP) has called on the United States of America’s President-elect Donald Trump to identify, recover, and return proceeds of corruption traced to former and current Nigerian public officials and their associates as he takes office on January 20.

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SERAP also asked Trump to ensure that any returned proceeds must adhere to strict standards of transparency and accountability, ensuring that the funds were used solely for the benefit of the Nigerian people.

The organisation, which made the demands in a letter dated January 18, 2025, signed by its Deputy Director, Kolawole Oluwadare, further asked Trump to direct the US Department of Justice to initiate civil asset forfeiture proceedings against the proceeds of corruption.

SERAP maintained that this action would fulfil several commitments made by the US to assist Nigeria in asset recovery efforts.

It also urged the president-elect to identify and publish the names of former and current Nigerian public officials suspected of corruption and to apply existing US presidential proclamations to impose temporary bans on such officials from entering the US

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The organisation claimed that Diezani Alison-Madueke’s looted assets, along with other recently returned assets, represented only a small fraction of the over $500 billion that has reportedly been stolen from Nigeria and is located in the US or otherwise under US jurisdiction.

SERAP highlighted that its requests served the public interest and adhere to the UN Convention Against Corruption requirements, to which both the US and Nigeria are parties.

It also alleged that proceeds of corruption from Nigeria continue to be deposited in US banks or in other locations under US jurisdiction.

The letter stated, “We hope you and your incoming government will address the legal obstacles that continue to enable corrupt Nigerian officials to deposit and conceal their ill-gotten assets in the U.S. and other locations under U.S. jurisdiction.

“Returning proceeds of corruption to Nigeria is a critical development imperative. By returning these proceeds, the U.S. would contribute to efforts to alleviate the country’s growing poverty and achieve the Sustainable Development Goals.

“The U.S. has obligations under relevant provisions of the UN Convention Against Corruption to trace, freeze, and seize proceeds of corruption from Nigeria located in the U.S. or otherwise under U.S. jurisdiction and to return these assets to the Nigerian people.

“A dedicated chapter of the Convention focuses on international cooperation regarding the recovery and return of stolen assets, including those from Nigeria (Chapter V, comprising nine articles),” the organisation stated.

SERAP further expressed concern that corruption remains a significant barrier to sustainable development, the rule of law, and the effective enjoyment of socio-economic rights in Nigeria. Implementing the recommended measures would help address these governance challenges.

It said, “Corrupt practices have long been viewed as an unavoidable aspect of the country’s ministries, departments, and agencies, as well as its governmental power structures across various states.

“Nigeria’s auditor-general’s office annually documents extensive and systemic corruption within ministries, departments, and agencies (MDAs), including in the petroleum, education, health, and water sectors, pushing millions of Nigerians further into poverty. The auditor general’s office has reported trillions of naira as missing or diverted.

“SERAP urges you to promptly share information with relevant Nigerian civil society organisations regarding the stolen assets of Nigerian origin located in the U.S. or otherwise under U.S. jurisdiction, as mandated by Articles 46(4) and 56 of the UN Convention Against Corruption.

“Imposing a temporary travel ban on former and current Nigerian officials suspected of retaining proceeds of corruption in the U.S. or in locations under U.S. jurisdiction would not violate due process or the presumption of innocence principles, provided that the reasons for the sanctions are communicated to those affected.

“According to reports, the U.S. government and the Federal Government of Nigeria recently announced an agreement to quickly repatriate approximately $52.88 million in forfeited corruption proceeds.

“These funds were forfeited to the United States as part of the Kleptocracy Asset Recovery Initiative of the U.S. Department of Justice. The forfeited assets were illegally acquired using funds linked to money laundering and a conspiracy to bribe former Petroleum Resources Ministers,” SERAP stated.

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