Nigeria’s Federal Government has appealed to the government of United States (US) to repatriate more illicit funds transferred from Nigeria through its banking system.
The Minister of Foreign Affairs, Yusuf Tuggar made the appealed in his remarks at the 6th Session of the Nigeria-US Bi-National Commission in Abuja.
Tuggar who was represented at the event by the Permanent Secretary, Ministry of Foreign Affairs, Adamu Lamuwa said there is the need for increased support from the U.S..
He noted that $308 million repatriated in the past was a fraction of Nigeria’s money illegally transferred over time.
He reiterated the Nigerian government’s commitment to utilising these funds for the collective benefit of its citizens, in line with agreements with development partners.
He specifically mentioned that the funds would be allocated to infrastructure development, focusing on projects such as roads, schools, education, and other vital sectors requiring substantial investment.
He also said: “I would like to appreciate the fallout of the Democratic National Convention held in February 2020 in Washington, DC. The governments of Nigeria, the United States, and Jersey signed a tripartite agreement to return to Nigeria the sum of over $308 million of funds stolen from the country.
“I would also urge the U.S. to do more because $308 million is a meagre amount when you look at the resources that Nigeria has lost over the years due to illegal transfers of funds from the country.
“The Nigerian government has committed to using these funds for the benefit of all Nigerians, as agreed with development partners. These funds are aimed at developing infrastructure, particularly projects in roads, schools, education, and other sectors of the economy that require this substantial return.”
While noting that the theme for this year’s session is: “Partnership for Mutual Benefit and Development,” has particular relevance and timeliness given the pressing need for such collaboration.
He added that as two major democracies, bolstering ties between these nations holds promise for an even more robust partnership, fostering peace, prosperity, and advancement not only in Africa but globally.
During her remarks, the Assistant Secretary for African Affairs, Molly Phee, highlighted the pivotal role of security cooperation in the Nigeria-U.S. partnership.
Phee who represented the U.S. Deputy Secretary of State, Kurt Campbell, stressed that without security, achieving prosperity becomes challenging and human rights are endangered, while underscoring the joint efforts aimed at tackling Nigeria’s multifaceted security challenges, including terrorism, banditry, and piracy, which pose significant threats to its population.
“Security cooperation is another crucial aspect of our relationship. Without security, prosperity will be elusive and human rights threatened. Together, we are working to address the broad security challenges facing Nigeria, terrorism; banditry and piracy threaten its people.
“The U.S. is committed to helping Nigeria build more capable, professional and accountable security forces while ensuring respect for human rights, and fundamental freedoms, including for religious minorities,” she said.
