IT IS NOT EASY TO RETRIEVE LOOTS SAYS ICPC CHAIRMAN

The chairman of the Independent Corrupt Practices and other related Offences Commission, Prof. Bolaji Owasanoye, says it is not easy to retrieve money stolen and stashed in foreign countries.

He spoke at the conference tagged: “Nigeria Foreign Policy under the Administration of President Muhammadu Buhari”, hosted by the Nigerian Institute of International Affairs (NIIA) in Lagos.

He said the present administration had made tremendous progress, exploring all available bilateral relationships to track down stolen money and assets stashed away in foreign countries.

“It is not easy to retrieve money stolen and stashed in foreign countries notwithstanding the fact that some of these countries have laws against money laundering in their respective jurisdictions. However, this administration has so far adopted a number of diplomatic options that have seen to the return of stolen money and we are still going to keep on in that regard to secure more.

“The truth is, for many of these countries when money is stolen in your country and are brought to be saved in their economies, it is not such an easy process that such money would be handed over to you as simple as that, “ Owansoye said.

A foreign affairs expert, Prof. Alaba Ogunsanwo, said the administration deserved commendation from carrying forward foreign policies started by past governments.