Buhari Seeks World Bank’s Support In Repatriating Looted Funds To Nigeria

Posted by African Examiner Latest Headlines, News Wednesday, April 27th, 2016

ABUJA, NIGERIA (AFRICAN EXAMINER) – President Muhammadu Buhari Wednesday in Abuja urged the World Bank to do all within its powers to facilitate speedy repatriation to Nigeria, of all stolen funds still being held by Swiss authorities.

Buhari made the call while speaking at a meeting with the visiting Managing Director of the World Bank, Ms. Sri Mulyani Indrawati. He explained that the repatriation of the additional $320 million in Switzerland, which has been identified as illegally taken from Nigeria under the Abacha administration, will help to ease the current economic hardship facing the country.

The President assured World Bank boss that his administration was taking appropriate steps to ensure that public funds are no longer stolen or misappropriated by government officials.

‘‘We need the support of the World Bank for the repatriation of the funds.

“We are as concerned as the World Bank about accountability. If such repatriated funds have been misapplied in the past, I assure you that the same will not happen with us.

“Three hundred and twenty million dollars is a lot of money and we will not allow it to be misappropriated or diverted,’’ President Buhari told Ms. Indrawati.

Already, one of the conditions given by the Swiss Authorities for the repatriation of the funds is that it should be expended on the implementation of social programmes for the benefit of the Nigerian people in an efficient and accountable way, guaranteed by the monitoring of the World Bank.

President Buhari also assured the World Bank Managing Director that his administration will honour all agreements with the Bank that will help to stimulate Nigeria’s economy and reduce the level of poverty in the country.

In a statement issued by his SSA on Media and Publicity Mallam Garba Shehu, Buhari stated that Nigeria will applaud greater international assistance for the rehabilitation of damaged homes, schools, health facilities and other infrastructure in the North Eastern states affected by the Boko Haram insurgency.

In her remarks, Ms. Indrawati told President Buhari that the World Bank was ready to use its knowledge, expertise and resources to helpthe country achieve faster growth and development.

‘‘We will strongly support you to create jobs and ensure prosperity in Nigeria,’’ Ms. Indrawati restated. She also expressed the Bank’s full support for the war against corruption being waged by the Buhari Administration.