The United Kingdom will release the names of Nigerian property owners in its borders following negotiations with the Federal government of Nigeria, Premium Times Times.
The Nigerian government is taking the measures in the fight against corruption in its country.
“There’s no doubt that rogues in government oppress and impoverish their people by corruption and this must be sanctioned by collective action. We need to make sure that there is no safe haven for you (corrupt officials) to run to.” Said Bolaji Owosanoye, Executive Secretary, Presidential Advisory Committee against Corruption
Britain has promised to release the names by 2018 after negotiations between the two countries reached advanced stage according to Mr. Owosanoye.
“Britain has promised that by 2018, she will provide Nigeria with the information about who owns what and where; that’s very helpful. These include all the houses that have been bought by public officials or accounts that are held by public officials on which they are right now not paying taxes or which they cannot explain the sources.” Said Mr. Owosanoye
The presidential aide further said that Nigeria and other African countries, who are victims of illicit financial flows, must challenge developed countries to block illicit financial flows from developing countries.
“If all countries criminalize this, then it becomes much more difficult unless you want to buy the house on Mars,” he said
The Aide further added that research records show that at least 60 per cent of capital flight from Africa is from Nigeria because of the size of its economy.
“The proposed “Unexplained Wealth Order in England,’’ which hopefully we were told would pass through the legal process this year, should really help to deepen the conversation… and help to quickly recover assets,” the presidential aide said.
