Economic and Financial Crimes Commission (EFCC)in Ilorin, Kwara state is tracking N370m money of the state government.
Speaking during a walk to mark the 3rd African Union, Anti-Corruption Day rally in Illorin, Zonal head of EFCC, Isyaku Sharu said the money was converted to pounds sterling and used to purchase property in the United Kingdom by a highly placed politician in the state.
“In Ilorin zone we are also tracking M370M that was converted to pounds and found it’s way to UK for a particular property of one highly placed politically exposed person.Very soon you will hear from us.”
Sharu said the EFCC is committed to recovering the stolen funs as Nigeria has long suffered looting of her common wealth to the western world.
“The continent is losing over $50 billion yearly due to illegally acquired assets allocated all over the world and the process of tracing, freezing, management and eventual repatriation of assets is a long process, hence the need for the involvement of relevant instruments through international cooperation to repatriate stolen assets back to Africa.”
“You can all agree with me that it involves the invocation of relevant instruments to partner with international cooperation. Extradition,mutual legal accentrity, freezing among others are the process. But to our greatest surprise with all these complex nature, after all said and done the repatriated funds that were brought back to the country would still be stolen by the same people”
He also called for collaborations by the stakeholders to reverse the trend.
“So, heads of anticorruption agencies in Africa have persistently sought for the support and collaboration of global communities for the repatriation of stolen wealth back to African countries. “The need to straighten international cooperation among the anti corruption agencies in africa for purposes of developing an African common position frame work on asset recovery and return can therefore never be over emphasized.”