L
LequteMan
Guest
In reaction to a report by the High Level Panel headed by ex South Africa President Thabo Mbeki and commissioned by the African Union and the United Nations Economic Commission for Africa (UNECA), Nigeria's Vice President Yemi Osinbajo on Monday claimed that most of the illicit funds from Africa were from Nigeria.
“That shows us very clearly, especially the security agencies, that we simply have to do more. It is evident that so much money is leaving our shores,” he said.
According to him financial institutions that aid corruption should face the consequences.
“There is no way the transfer of these assets can happen without a handshake between the countries that they are transferred from and the international banking institutions in the countries in which they are transferred. There is no way it will happen without some form of connivance. ,
“We have to look at somehow delegitimising those kinds of financial institutions and criminalising them.
“Banks and financial institutions that actually engage in this must be called out and made to face the consequences of engaging in criminal practices. If that is not done, we are not likely to go very far.
“In the agreement and conventions we will be signing, we must ensure that financial institutions are not given a free run and to hold them accountable., “
He also stated that corruption fights back through the media.
“If you look at the anticorruption fight in Nigeria, there is a major fight back in the media. There is a media war, between people fighting corruption and those behind the stolen funds. ,
“It is called ‘media trial’ – I don’t know what that means. If you discover, for instance, large sums of money in an air conditioned room, there is no where it will not make news in the world. ,
“So, this whole idea of trying to legitimise corruption is definitely being fuelled and sponsored by those who have these resources, who have stolen funds.
“Unless we see it as a problem that can bring down our system then we will never be able to fight. I hope we will be able to advance this with other African countries,” he said.,
“That shows us very clearly, especially the security agencies, that we simply have to do more. It is evident that so much money is leaving our shores,” he said.
According to him financial institutions that aid corruption should face the consequences.
“There is no way the transfer of these assets can happen without a handshake between the countries that they are transferred from and the international banking institutions in the countries in which they are transferred. There is no way it will happen without some form of connivance. ,
“We have to look at somehow delegitimising those kinds of financial institutions and criminalising them.
“Banks and financial institutions that actually engage in this must be called out and made to face the consequences of engaging in criminal practices. If that is not done, we are not likely to go very far.
“In the agreement and conventions we will be signing, we must ensure that financial institutions are not given a free run and to hold them accountable., “
He also stated that corruption fights back through the media.
“If you look at the anticorruption fight in Nigeria, there is a major fight back in the media. There is a media war, between people fighting corruption and those behind the stolen funds. ,
“It is called ‘media trial’ – I don’t know what that means. If you discover, for instance, large sums of money in an air conditioned room, there is no where it will not make news in the world. ,
“So, this whole idea of trying to legitimise corruption is definitely being fuelled and sponsored by those who have these resources, who have stolen funds.
“Unless we see it as a problem that can bring down our system then we will never be able to fight. I hope we will be able to advance this with other African countries,” he said.,
