Looted funds: Falana confusing Nigerians – AGF Malami
based on the provisions of the Revenue Mobilization, Allocation and Fiscal Commission .
The minister said it was misleading to give the impression that recoveries and usage of stolen funds stashed abroad are provided for by the RMAFC Act when recoveries are product of by multiple jurisdictional legislations, thereby bringing recoveries into the purview of conflict of laws. “The recovery of stolen assets and the subsequent uses to which these funds may be employed are subject to international agreements between Nigeria and the affected countries, thereby bringing conflict of laws“Importantly also, these repatriated funds are based on cooperation and mutual assistance agreements, especially the United Nation Convention against Corruption and Implementation of the Global Forum on Asset“The African Union and the ECOWAS Protocols on recovery of illicit funds are...
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