Prof Sagay- UK, and others to return Nigeria’s Stolen Funds

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The Chairman of the Presidential Advisory Committee Against Corruption, Prof. Itse Sagay (SAN), said some countries of the countries where corrupt Nigerians have hidden monies stolen from Nigeria have promised to return such money.


Sagay listed the countries to include Switzerland, United States of America and United Kingdom.

He disclosed these in Lagos during an interactive session with newsmen and members of Civil Society Organisations.

He said his committee had in the last one year engaged in series of activities, including interfacing with countries where stolen loots were kept.

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Sagay said: “We’re also involved in the whole processing of tracing loots hidden all over the world.

“It’s been a busy year for us.

“There had been challenges.

“We’ve justified the establishment of the committee.

“I can mention two or even three countries which had agreed to return stolen loot, hidden and traced to their countries.

“Switzerland has cooperated very well, United States of America and UK too.”

When asked how much will be recovered from the three countries, Sagay said: “ I can’t tell you how much.”

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Sagay also revealed that the Presidency had accepted PACAC’s recommendation that a special court to try corruption and other related cases be created.

While explaining that PACAC has done a lot of interaction with judges in order to enhance their capacity so they could handle corruption cases, he noted that professionals were brought from different countries to train the judges.

Speaking on banks that ignored certain laws concerning Treasury Single Account, Sagay said that such banks support and hide stolen money for corrupt Nigerians.

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He said that since such banks have refused to obey the law, they were liable and their managers could be arrested.

He said: “Refusing to follow laws on TSA by banks is a criminal offence.

“If such banks are found out, they would be prosecuted.”

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