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Tuesday, 10 March 2020

AGF, Malami Rejects Call To Pay Recovered Loot Into Federation Account

AGF, Malami Rejects Call To Pay Recovered Loot Into Federation Account

The Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), on Tuesday, rejected the call by human rights lawyer, Mr. Femi Falana (SAN), for stolen funds especially the ones linked to the late Head of State, General Sani Abacha, to be returned to the Federation Account.

Malami, through his spokesperson, Dr. Umar Gwandu, was reacting to the suggestion recently made by Falana in Akure, Ondo State, that the recovered loot ought to be paid in the Federation Account and shared among the Federal Government and the federating units.

The minister’s statement was titled, ‘Looted funds: Don’t confuse public with myopic views – Malami replies Falana’.

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He said Falana made “erroneous assertion” on the process of disbursement and use of recovered stolen funds based on the provisions of the Revenue Mobilization, Allocation and Fiscal Commission Act and Section 153 (1) (n) of the Nigerian Constitution.

This he said, “depicts a rash analysis devoid of clear legal foundations”.

The minister said the RMAFC Act “has nothing specific on funds recovered from indicted public officers or assets recovered internationally”.

He noted that Section 80 (1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) “contemplates exceptions to funds not payable into the federation account.”

He added, “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 into contemplation.

“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 Recovery (GFAR) Principles on the Repatriation of Stolen Assets.”

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