Politics

The UK’s Position Is That Nigeria Cannot Be Trusted With Money, Says Queen’s Counsel

Philip Hackett, a Queen’s Counsel, has expressed the reservations of the United Kingdom, when it comes to returning looted funds to Nigeria.

Speaking on the theme: ‘Institutionalising the War against Corruption – New Approaches to Assets Tracing and Recovery’, at the Annual General Conference of the Nigerian Bar Association (NBA) in Abuja on Wednesday, Hackett said the issues with accounting for the funds also contributed to the UK’s hesitation on returning looted funds.

He said: “How much money has been recovered? Practically nothing. Nigeria has recovered so little.

“The UK’s position is that Nigeria cannot be trusted with its money. That’s what underpins it (poor asset return rate), and it has to be addressed.”

The session was chaired by Professor Bolaji Owasanoye, Executive Secretary, Presidential Advisory Committee Against Corruption (PACAC), and featured the presence of Ibrahim Magu, the acting Chairman of the Economic and Financial Crimes Commission (EFCC), who was represented by Chile Okoroma, EFCC’s Director of Legal and Prosecution Department.

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