Nigeria will in May through President Buhari sign a groundbreaking pact that would make it nigh on impossible for embezzlers of public funds to be able to carry out their activities.
The pact is to be signed in the United Kingdom next month. What it translates to is that any embezzler of public funds will no longer be able to use any of the 60 nations involved in the pact as a safe haven.
The restrictions brought about by the pact include:
- travel restriction or denial of entry visa into the 60 countries;
- rejection of request for political asylum by corrupt political and public office holders;
- likely loss of citizenship;
- no more approval of naturalization for any corrupt person;
- no establishment of shell companies abroad; and
- the corrupt will not be allowed to operate foreign accounts in any of the 60 nations.
According to Sahara Reporters, Attorney General of the Federation Mallam Abubakar Malami, SAN said “The administration of President Muhammadu Buhari is stepping up the fight against corruption. I am happy to bring to your notice that Nigeria and 59 other countries will enter into an agreement in May on the imposition of international sanctions against corrupt political and public office holders. This will take place at the 2016 international summit on anti-corruption in the UK.
“At the May summit, these 60 countries will agree on some sanctions against those who steal public funds or launder money.
“Some of these measures are travel restriction or denial of entry into the 60 countries; rejection of request for political asylum by corrupt political and public officers; no more approval of application for naturalization by any corrupt person; and the corrupt will not be allowed to operate foreign accounts in any of the signatory nation to the pact among others.
“The affected countries will also design ways of sharing intelligence on corrupt officers and money launderers. We will all key into this understanding as part of the global action against corruption.
“With this development, there is no hiding place for any public office holder who steals funds in this country.”
The AGF continued “The President will deliver a keynote address at the May summit. It all borders on the international appreciation of the anti-corruption agenda of this administration.
“In fact, Nigeria is being considered as the 2017 host of the international summit on anti-corruption.”
It has become common practise for stolen funds to be stashed in other nations. One only has to look at the case involving Abacha and his huge stash in Switzerland to see how useful the proposed pact will be.