Connect with us

FOREIGN NEWS

Repatriation Of Stolen Wealth: UNODC Enhances Recovery Capacities Through Collaboration

Published

on

To facilitate the repatriation of stolen wealth, the United Nations Office on Drugs and Crime (UNODC) is collaborating with civil society organisations and law enforcement agencies to strengthen support and enforcement capabilities, aiming to increase the recovery of illicitly acquired assets.

As part of its efforts to drive legislative reforms, strengthen institutions, and harmonise asset recovery protocols under the Proceeds of Crime (Recovery and Management) Act, the UN agency recently organised a capacity-building workshop in Abuja.

Advertisement

The agency emphasised that a greater understanding of the Proceeds of Crime Act and asset recovery management is crucial to bolster Nigeria’s anti-corruption efforts.

In partnership with the World Bank’s Stolen Asset Recovery Initiative (STAR), the UNODC has pledged to continue supporting Nigeria through technical assistance, capacity development, strategic policy dialogues, and multi-stakeholder engagements.

Advertisement

Cheikh Touré, Country Representative of the UNODC, highlighted the organisation’s long-standing partnership with Nigeria, which has driven legislative reforms, strengthened institutions, and harmonised asset recovery protocols to align with the United Nations Convention Against Corruption (UNCAC) obligations.

He added that this partnership has fostered data-driven policy formulation and empirical research to promote good governance and advance the Sustainable Development Goals (SDGs).

Advertisement

Represented by Princess Chifiero, Programme Coordinator, Anti-Corruption of the UNODC, Touré stated that “under the Stolen Assets Recovery (STAR) Initiative with the World Bank Group, UNODC has enhanced Nigeria’s legislative, investigative, judicial, and enforcement capacities for recovering stolen assets abroad.”

“Working closely with the Federal Ministry of Justice, this collaboration has facilitated the implementation of the 2022 Proceeds of Crime (Recovery and Management) Act, including the adoption of regulations and a centralized database for seized and confiscated assets – tools which were officially launched in May 2025.”

Advertisement

We are committed to providing high-quality news content on a wide range of topics, including the most recent economic and business updates, politics, entertainment, and compelling human interest stories.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending