Dr. Efe Anaughe, President Warien Rose Foundation and a leading anti-corruption advocate, has emphasized the critical role of asset recovery in dismantling corruption.
According to her, it is a coordinated effort to tackle corruption, money laundering, and illicit financial flows, the Warien Rose Foundation, in collaboration with the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), recently hosted a high-level virtual training on asset recovery and financial transparency
.She added that training empowered professionals to master techniques for identifying hidden assets and recovering looted funds. It’s about turning knowledge in action,” she said.
However the virtual session is seen as a bold step toward a more accountable, transparent, and corruption-free financial system in West Africa.
The training equips stakeholders with advanced strategies in asset recovery and management.Foster partnerships among institutions fighting financial crimes.
The training also provide practical insights into tracing hidden assets and overcoming recovery challenges.
Another keynote speaker, Ms. Princess Chifiero, National Project Officer at the United Nations Office on Drugs and Crime (UNODC), represented the Country Head of UNODC. She highlighted the importance of integrity, transparency, and global cooperation in asset recovery and the fight against illicit financial flows.
Also speaking at the forum, Barrister Yvonne William-Mbata, Assistant Chief Superintendent and Head of the Legal Unit at the Lagos office of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), stressed the need for both local and international legal collaboration.
“Effective asset recovery demands strong legal frameworks and cooperative alliances across borders,” she noted.
Among keys lessons from the training included:cutting-edge strategies for tracing and recovering assets and Legal frameworks and best practices for effective asset management.
The role of transparency and economic reasoning in financial governance.
Among the challenges highlighted during the session:difficulty in locating and tracing stolen assets.The need for stronger international cooperation mechanisms and ensuring transparency and proper utilization of recovered assets.
However, to address these issues, GIABA and the Warien Rose Foundation emphasized: enhanced capacity-building initiatives for stakeholders,stronger public awareness campaigns on financial crimes and strengthening institutional frameworks to prevent asset mismanagement.
The training attracted participants from law enforcement agencies, financial institutions, civil society organizations, and government agencies. The organizers reaffirmed their commitment to continuous professional development, with more sessions planned to reach a wider audience across Africa.
Dr. Anaughe concluded, “Reducing money laundering and terrorism financing begins with strengthening our systems. From tracing illicit wealth to educating the public, every effort counts.”
