The Solicitor General of the Federation (SGF), Mrs. Beatrice Jedy-Agba has called for transparency and openness in the utilization of assets recovered from perpetrators of economic crimes both within the country and abroad.
Jedy-Agba, who doubles as the Permanent Secretary of the Federal Ministry of Justice (FMOJ), noted that the purpose of asset recovery would be defeated if repatriated funds are mismanaged or improperly allocated.
Speaking yesterday at the Asset Recovery Summit in Abuja, she equally called for the strengthening of Nigeria’s laws, policies, and processes, ensuring that the frameworks governing asset recovery remain robust and adaptive.
She told participants that transparency must be the guarding principle for the efforts on asset recovery to be successful and meaningful.
According to her, “Citizens have the right to know how recovered assets are being used, and we must establish reliable mechanisms for public reporting and oversight.
“By institutionalizing clear asset utilization frameworks, we prevent misappropriation and ensure recovered funds serve the interests of national progress.
“We must empower civil society organizations, journalists, and citizen-led initiatives to actively participate in tracking hidden wealth and advocating for responsible asset utilization.
This summit is more than a policy discussion, it is a testament to our shared vision of a Nigeria where transparency, accountability, and the rule of law prevail.
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“Strengthening the Whistleblower Policy will encourage information sharing and uncover undisclosed assets.
“Over the years, Nigeria has recovered substantial funds that had been unlawfully taken from the public trust. These assets, whether repatriated from foreign jurisdictions or reclaimed through domestic enforcement, hold immense potential for national development,” she revealed.
She explained that Nigeria is at a crossroads where decisive action can reshape the asset recovery landscape.
The SGF explained that the summit provides an opportunity to assess challenges and propose legislative improvements that will fortify national anti-corruption efforts.
She expressed appreciation to the United States of America, United Kingdom, Bailiwick of Jersey, Ireland, Switzerland, and France for their continuing support and engagement in Nigeria’s asset recovery efforts.
According to her, the fight against corruption and asset misappropriation transcends borders. Nigeria has made great strides working alongside global enforcement bodies such as the United Nations Office on Drugs and Crime, UNODC, INTERPOL, and the Financial Action Task Force, FATF.
She revealed that collaborations among these nations have been instrumental in tracking illicit financial flows, securing repatriations, and reinforcing international accountability mechanisms. It is through partnerships that Nigeria has reclaimed several stolen assets.
The Permanent Secretary called for steadfast commitment to build and leverage strong alliances that safeguard Nigeria’s financial integrity.