ICPC Proffers Return Of All Foreign Loot As Solution To Nigeria’s Perpetual Borrowing

 ICPC Proffers Return Of All Foreign Loot As Solution To Nigeria’s Perpetual Borrowing

The Independent Corrupt Practices and other Related Offences Commission, ICPC, has said Nigeria will not need external loans if stolen money stashed away in foreign Banks by corrupt Politicians and Heads of State are repatriated. 

ICPC Spokesperson, Mrs Azuka Ogugua stated this in Abuja on Monday, July 12, 2021, while speaking on the occasion of the 2021 African Union Anti-Corruption Day marked every July 11, 2021. 

Over five billion dollars was allegedly stolen by the late Military Head of State, General Sani Abacha between 1993 and 1998. 

The ICPC Spokesperson said Nigeria and other African Countries would not need to borrow funds outside the continent if all the looted funds were repatriated. 

She stressed the need for a common African policy on repatriation of stolen funds. 

The ICPC Spokesperson also said the Common African Position on Asset Recovery, which Nigeria is a signatory to, has been helpful in tracing and recovering looted funds outside Africa.

TINU

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