Civil Society Legislative Advocacy Center (CISLAC) on Tuesday called for the establishment of a database with details of recovered assets, from whom the assets were recovered and how the proceeds are utilised.
According to the Executive Director of CISLAC, Malam Auwal Ibrahim Musa Rafsanjani, such database, from 1999 till date, will give Nigerians and the international community especially anti corruption agencies confidence that recovered assets were not relooted and were utilised in a way that it can be beneficial to the larger population.
Addressing the media ahead of a Workshop on Effective Reporting of Nigeria Assets Recovery and Management System on Tuesday in Abuja, Rafsanjani said there were fears locally and internationally that assets recovered from “yesterday looters are not relooted by today looters.
“Lack of synergy and credible information on assets recovered is of great concern to Nigerians. About $18billion is lost abroad every year to tax evasion, money laundry, and stashing of illegal proceeds outside the country, which means Nigeria has the highest illicit financial flow outside Africa.
“These money, which are meant to build food infrastructure to help farmers build their products, build healthcare facilities, build educational facilities, address the Covid-19 pandemic are diverted. This diversion results in abject poverty, insecurity and abysmal government performance.
“Our recommendations: Legal framework on assets recovered enactments; establishment of database with all details for recovered assets, and persons from whom the assets have been recovered and how they were utilised; inclusion of credible civil society organisations and media in assets recovery process and management.”
According to CISLAC, the assets when recovered should be publicly evaluated to ensure that when they are being disposed Nigerians are not shortchanged.
