The Civil Society Legislative Advocacy Centre (CISLAC) and Transparency International Nigeria (TI Nigeria) have commended the United Kingdom government for its role in recovering $9.5 million in stolen Nigerian assets.
The organisations described the development as a positive example of international cooperation in the fight against corruption and illicit financial flows.
Executive Director of CISLAC and Head of Transparency International Nigeria, Comrade Auwal Musa Rafsanjani, in a statement on Saturday, said the recovery aligns with the objectives of Nigeria’s Proceeds of Crime Act (POCA), 2022, which provides a comprehensive legal framework for tracing, freezing, confiscating, managing and repatriating proceeds of crime, both locally and from foreign jurisdictions.
He noted that POCA remains Nigeria’s principal instrument for ensuring that criminals do not benefit from corruption and other financial crimes, particularly funds looted and concealed abroad.
According to him, the latest recovery underscores the importance of mutual legal assistance and cross-border collaboration, which they described as central to strengthening Nigeria’s asset recovery efforts and deterring illicit financial flows.
While welcoming the return of the funds, Rafsanjani raised concerns over the utilisation and management of recovered assets, stressing that Nigerians continue to have limited access to information on how such funds are deployed despite significant recoveries recorded over the past decade.
He said public dissatisfaction persists over the lack of transparency surrounding recovered assets, adding that civil society groups have developed accountability frameworks in line with POCA to prevent re-looting and ensure that recovered funds are used for the public good.
The CISLAC boss argued that Nigeria must focus not only on recovering looted funds but also on blocking the systemic lapses that enable theft in the first place.
According to him, with estimated annual losses of about $18 billion to illicit financial flows, recovery efforts alone are insufficient, urging the sanitisation of financial institutions and systems to prevent public funds from being illegally siphoned out of the country.
He warned that Nigeria’s high share of illicit financial flows in Africa contributes directly to poverty, weak infrastructure development and global reputational damage, noting that Nigerians often face suspicion and discrimination abroad due to credibility issues linked to domestic financial mismanagement.
Rafsanjani identified key accountability measures required to guarantee transparency, including independent monitoring and oversight of recovered assets, public disclosure of Memoranda of Understanding guiding asset repatriation, and clear information on where and how recovered funds will be spent.
He called for public reporting, regular audits and strict sanctions against individuals involved in re-looting recovered proceeds of crime, as provided under POCA.
Rafsanjani further insisted that recovered assets should be lodged in dedicated accounts to enable proper tracking and accountability, warning that once such funds are paid into general government accounts, transparency becomes difficult and the risk of absorption into routine spending increases.
He urged the Federal Government to fully implement the Proceeds of Crime Act and honour its commitments under the Global Forum on Asset Recovery, including transparent management of recovered assets and their use to improve citizens’ welfare.
The statement also called for independent oversight by the National Assembly to ensure that recovered funds are effectively traced, tracked and measured in line with POCA’s objectives.
He highlighted ongoing challenges faced by civil society organisations, particularly limited access to timely and accurate information on recovered assets, and urged the government to provide clearer and more consistent data to counter misinformation and fake news.
While describing the $9.5 million recovery as a positive development, the organisations warned that weak enforcement, prolonged litigation, institutional weaknesses and procedural delays continue to undermine Nigeria’s asset recovery regime.
They called on the government to prioritise the effective implementation of POCA, strengthen institutions, block financial leakages and safeguard public resources to ensure that recovered assets deliver tangible benefits to Nigerians.
