No room to hide stolen money from Nigeria, others here again, says British PM

…As Buhari seeks Commonwealth help to curb terrorism, corruption in Nigeria’s oil sector

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MALTA: BRITISH Prime Minister, David Cameron, has issued stern warning to corrupt public officials and money launderers in Nigeria and other developing countries who often steal money to hide them abroad in foreign banks and financial institutions.

Cameron warned them that henceforth the Commonwealth and other developed countries would no longer tolerate such act in their determined efforts to fight corruption and promote good governance in developing countries.

The Prime Minister made this known on Saturday at the Commonwealth Heads of Government Meeting on corruption, which he chaired in Malta while responding to earlier call by President Muhammadu Buhari to the international community to give more needed support to his administration in its efforts to stamp out corruption in the country’s oil and gas sector.

“We care passionately about this issue of fighting corruption,” the British Prime Minister said, according to a release by the Senior Special Assistant to the President (Media and Publicity), Mr. Shehu Garba.

“In my view, this issue needs to have a much higher billing on the international agenda, not just because fighting corruption is right in itself, but because all the other things we want to achieve as countries and members of the Commonwealth depend on our success in doing so,” Cameron said.
He further stressed: “If we want fair economic growth, we need to reject corruption. If we want to see fair and sustainable development, we need to deal with corruption.  I think this is an absolutely vital issue.”

“It is an issue for all of us because so much of the money stolen from developing countries is hidden in developed countries,” Cameron said, while further stressing: “So dealing with money laundering, dealing with beneficial ownership and making sure we stop stolen money being hidden away in developed countries is absolutely vital.”

Earlier, Buhari had said that the corruption in the oil industry and outright theft of the nation’s crude oil increased due to the culture of impunity under past administrations.

Similarly, at another forum where Buhari alongside other leaders were hosted to a banquet by Her Majesty, Queen Elizabeth II, he sought the establishment of a Commonwealth Committee to oversee the rendering of greater assistance and support to Nigeria and other member-countries that have been adversely affected by the scourge of terrorism.

The Secretary-General of the United Nations, Mr. Ban Ki Moon, also attended the banquet.

Buhari expressed the hope that the committee would have been established before the next meeting of the organisation, the Special Adviser to the President (Media and Publicity), Mr. Femi Adesina, said in another release.

Buhari told Cameron and others that corruption thrive in the oil sector because of the ease of transferring illicit funds abroad and the institutional protection given to corrupt officials in the past.
“Now that we have the political will to stop impunity, we need the cooperation and assistance of the international community,” the President told his listeners who included the leaders of Australia, Canada, Singapore, Malta, Sri Lanka, Botswana, and Trinidad and Tobago.
He stressed: “We must all work together to compel multinational oil companies, international financial institutions and international shipping lines to stop aiding and abetting corruption in the oil sector in Nigeria.”

And at the Queen’s banquet, President said that he also expected the proposed committee to visit member-countries of the Commonwealth where terrorist organisations have established a foothold with a view to evolving practical strategies for more meaningful assistance to the affected countries.

Buhari urged the Commonwealth to show greater resolve in helping Nigeria and other developing nations in its ranks to overcome the challenges of economic development, security, terrorism and corruption.

“With the improvement of global communications, terrorism has no borders now,” he said.

He added: “What happened recently in France had a profound effect on all of us, but very few countries realize that Nigeria has suffered terrorist casualties of over 10,000 killed in the last six years.

“Right now, we have over two million internally displaced persons, most of whom are women and children, and most of the children are orphans.”

Buhari, who informed the Queen and others of efforts by Nigeria and other members of the Lake Chad Basin Commission to curb the menace of Boko Haram, noted that the problem of terrorism in West Africa had been aggravated by the collapse of the Gadhafi regime in Libya.

“We have agreed to a joint task-force for the elimination of Boko Haram, but it may not be easy, especially after the events in Libya when trained people with weapons moved back to Sahel region from where they were recruited by the former Libyan leader,” the President said.

“Those weapons and expertise in their use are now aggravating the situation in the Sahel and further south,” he further pointed out.

While calling for greater international support for Nigeria and other countries affected by terrorism, the President expressed his administration’s appreciation of the assistance already being received from the Commonwealth, Britain, the Group of Seven Industrialized Nations, France and the United States.

His words: “I am grateful to Britain, France and the United States. They have already sent teams to train the Nigeria Military and Police in the control of terrorism.

“The Commonwealth has helped us in so many ways by the visible support they have been giving to help us overcome the problem of terrorism.”