Nigeria, UAE agreement on stolen assets takes off

President Muhammadu Buhari’s anti-corruption drive moved a notch higher yesterday. Nigeria and the United Arab Emirates (UAE)’s agreement on recovery of assets and cash stashed away in UAE by Nigerians takes off next month.

Besides, the collaboration among heads of anti-corruption agencies in Commonwealth (Africa) countries will be stepped up as Nigeria hosts the 8th annual general meeting and conference for heads of anti-corruption agencies in Commonwealth Africa from today in Abuja.

Buhari is expected to open the conference, with the theme: “Partnering towards assets recovery and return”.

Yesterday in Abu Dhabi, officials of the UAE and Nigeria exchanged instruments of ratification on judicial agreements signed between both governments in 2016.

With yesterday’s exchange of instruments, the agreement will now take effect from June 13.

The agreements, which were signed by President Buhari are:

Avoidance of Double Taxation Agreement.

Agreement on Trade Promotion and Protection

Judicial Agreements on Extradition

Transfer of Sentenced Persons

Mutual Legal Assistance on Criminal Matters

Mutual Legal Assistance on Criminal and Commercial Matters(recovery and repatriation of stolen wealth)

The Federal Government has been trying to attach some suspected assets allegedly owned by some Nigerians or  traced to them in UAE.

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