*Seeks More Repatriation
THE Federal Government has promised that repatriated illicit funds would be allocated to infrastructure development, focusing on projects in vital sectors requiring substantial investment.
The Minister of Foreign Affairs, Yusuf Tuggar, who made this known at the 6th Session of the Nigeria-United States (US) Bi-national Commission in Abuja, on Monday, April 29, while appealing to the US to repatriate more illicit funds transferred by Nigerian officials through its banking system.
The minister, who was represented by the Permanent Secretary, Ministry of Foreign Affairs, Adamu Lamuwa, reiterated the Nigerian government’s commitment to utilising the funds for the collective benefit of its citizens, in line with agreements with development partners.
He stressed the need for increased support from the US, citing $308million as insufficient, compared to Nigeria’s losses from illegal funds transfers over the years, assuring that the funds would be allocated to infrastructure development, focusing on projects, such as roads, schools, education and other vital sectors requiring substantial investment.
Tuggar said: “The governments of Nigeria, the US and Jersey signed a tripartite agreement to return to Nigeria, the sum of over $30 million of funds stolen from the country.
“I would also urge the US to do more, because $308million 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.”
He emphasised that the theme for this year, “Partnership for Mutual Benefit and Development,’ held particular relevance and timeliness, given the pressing need for such collaboration, adding that as two major democracies, bolstering ties between the countries would hold promise for an even more robust partnership, fostering peace, prosperity and advancement in Africa.
