229 Views

Full Text Of President Buhari’s Statement At The London Anti-Corruption Summit

Full Text of President Buhari’s Statement at the London Anti-Corruption Summit on Thursday May 12, 2016.

The Rt. Hon. David Cameron, Prime Minister of the United Kingdom of Great Britain and Northern Ireland and the Chief Host of the Summit,
Fellow Heads of State of Government,
Distinguished Ladies and Gentlemen,
I feel honoured and privileged to be invited to this Summit dedicated solely to combating corruption, a cankerworm in the social and economic fabrics of all countries. May I first commend Prime Minister Cameron for considering it worthy and timely to convene this Summit. I recall how he championed anti-corruption actions at home and in several international fora as well as his initiative to place tax, trade and transparency on the forefront of the G8 agenda a few years ago. As the Co-chair of the United Nations High Level Panel on the Post-2015 Development Agenda, he took the lead to galvanise agreement to place the anti-corruption fight at the heart of the global approach to combating poverty. Today, this accomplishment is embodied in Goal 16 of the Sustainable Development Goals (SDGs).
Corruption is one of the greatest enemies of our time. It runs completely counter to our values, as it rewards those who do not play by the rules and also creates a system of patronage where the resources are shared out by a small elite, while the majority are trapped in poverty. When it comes to tackling corruption, the international community has unfortunately looked the other way for too long. We need to step up and tackle this evil. This charge sums up why we are gathered here today.
THE ANTI-CORRUPTION STANCE OF THE PRESENT ADMINISTRATION
Excellencies,
Tackling corruption has been a defining feature of my public service. Upon assuming office on May 29th last year, I made fighting corruption as one of the three pillars of our Administration’s priority programmes. Indeed, when I came to office, corruption had become endemic and systemic, threatening the very foundation of our national life, security and democracy. As a result, I have demonstrated zero tolerance for corrupt practices by combating corruption head-on. We are determined to bring integrity to governance through leadership by example.
At the global level, Nigeria is committed to forging strategic partnership with willing countries to combat corruption. For too long, Nigeria has been a victim of both internal and international criminal cartels indulging in corrupt practices. This phenomenon is manifested in the plundering and stealing of public funds, which are then stashed away in secret offshore accounts. As a result, Nigeria is calling on this Summit to create an anti-corruption infrastructure and a strategic action plan that will include the monitoring, tracing and facilitating the recovery of stolen funds and assets hidden in secret accounts abroad.
The anti-corruption measures that we would adopt in this Summit should also include mechanisms that will assist countries like our own in combating illegal activities in the oil sector, involving oil theft that has become a serious threat to the national economy and security. It has been estimated that oil bunkering, which is akin to trade in “blood diamonds”, now costs Nigeria about 7 billion U.S. dollars annually. This Summit must, therefore, come up with measures to combat oil theft, which constitutes a credible threat to global energy security. Multinational oil companies and banks, international financial institutions as well as international shipping lines and insurance firms must cooperate fully with oil producing countries, such as Nigeria, in cleaning up our oil sector and freeing it from the clutches of international fraudsters.
UNDERSCORING THE RELEVANCE OF THE SUMMIT
Excellencies,
This Summit, the first of its kind focusing on anti-corruption, should be leveraged upon by world leaders to send a strong signal to the whole world that corporations and individuals can no longer get away with tax fraud, money laundering, transfer pricing and illicit funds transfer to offshore locations or tax havens. The outcome of this Summit should drive a global process to reduce, if not eliminate, corporate and individual corrupt practices. From today, we should hold these perpetrators to account and freeze their ill-gotten assets.
Furthermore, this Summit should adopt a global anti-corruption agenda that will include transparency, accountability, social justice, as well as fair and legitimate business practices and environment.
Excellencies,
Corruption undermines the ability of countries to finance development. I recall in this regard the landmark Addis Ababa Action Agenda of the Third International Conference on Financing for Development held in January this year. A prominent feature of this global framework is the recognition that good governance and measures to combat corruption and curb illicit financial flows will be integral to the efforts to attain sustainable development Post-2015.
It is for these reasons that the Nigerian government expressed its determination to address illicit financial flows as they serve as major impediments to progress. I wish to reiterate our call in Addis Ababa that the global community must come up with mechanisms for dismantling safe havens, and facilitate the easy return of stolen funds and assets to their countries of origin, as mandated in the United Nations Conventions Against Corruption and Transnational Organized Crimes. Let us seize this opportunity to act now.
We must henceforth see the anti-corruption fight, not as an end in itself, but as an instrument in the fight to eliminate poverty and restore the right order of things.
Excellencies,
I recall our proactive roles at the United Nations in the adoption of the 17 Sustainable Development Goals (SDGs) in September of last year. Goal 16 of the SDGs envisages a world with access to justice and open, accountable institutions as well as recognizes that governance has a development dividend. This provides us a platform to set new milestones for confronting international financial criminality and impunity.
May I plead that we seize the momentum generated by this Summit to design a rules-based architecture to combat corruption in all its forms. The hallmark of this new order must include greater transparency and accountability of all institutions, corporate bodies and individuals. It must also embody stricter enforcement regulations of governing international financial flows and tax havens.
Excellencies,
There is no question that corruption accounts for 10% of the cost of doing business globally. Equally true is that reducing corruption by the same proportion might add 380 billion U.S. dollars yearly to the world economy. These findings are illuminating. But our concerns in Africa go even beyond that
African countries have been accused of endemic corruption, although it is a universal evil. However, African countries have all too often been the victims of international corruption planned and executed from abroad using our own resources. The Report of the High Level Panel on Illicit Financial Flows from Africa, headed by Mr. Thabo Mbeki, former President of South Africa, revealed that Africa loses 50 billion U.S. dollars annually and has lost in excess of 1 trillion U.S. dollars in illicit financial flows over the last 50 years. This amount equals to the total sum of the Official Development Assistance (ODA) received by all African countries during the same period! This finding is as troubling as it is revealing.
We can begin to appreciate the stark reality that every dollar siphoned through dirty deals and corruption to offshore tax havens makes the livelihood and survival of the average African more precarious. We of the African continent, therefore, avail ourselves of this opportunity to call for an end to the plundering of our continent through organised international crime.
RECAPITULATION OF THE COMMITMENTS NIGERIA WANTS LEADERS TO SIGN UP TO AT THE SUMMIT
 
Excellencies,
To conclude, the new anti-corruption architecture that we seek to build must be ambitious, effective and deliverable. To this end, the commitments Nigeria hopes leaders here present to sign up to should include the following:
a) Tracing, freezing and returning stolen funds to their countries of origin without delay or preconditions. There have been substantial progress, but more remains to be done in this regard;
b) Combating illicit financial flows across international borders, particularly from Africa;
c) Initiating practical and enforceable international actions to tackle oil theft;
d) Introduction of stringent rules and regulations on the registration of beneficial or shell companies and disclosure of their transactions; and
e) A concerted international effort to address the general and pervasive problem of money laundering, which distorts the international financial markets, undermines good governance and serves as a conduit for financing the activities of criminal gangs, including terrorists.
May I finally again commend the British Prime Minister for convening this important Summit and I am hopeful that at its end, it will kick- start real action to combat corruption.
I thank you.
source: Tori.ng

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

Mace Theft: How Ike Ekweremadu Redeemed Lawmakers’ Image
Politics
9 views
Politics
9 views

Mace Theft: How Ike Ekweremadu Redeemed Lawmakers’ Image

PH - April 20, 2018

A member of House of Representatives, Rep. Joseph Akinlaja (Ondo-PDP), has said Deputy President of the Senate, Mr Ike Ekweremadu’s wisdom saved Nigeria a greater embarrassment on…

Why Federal Government Wants Rail Line Between Nigeria And Niger – Amaechi
Business
13 views
Business
13 views

Why Federal Government Wants Rail Line Between Nigeria And Niger – Amaechi

PH - April 20, 2018

The Minister of Transportation, Rotimi Amaechi, has explained that the rail line from Kano in Nigeria to Maradi in Niger Republic was mainly to encourage business owners…

Government Policies Making It Hard For African Youth To Succeed – Tony Elumelu
Business
13 views
Business
13 views

Government Policies Making It Hard For African Youth To Succeed – Tony Elumelu

PH - April 20, 2018

Tony Elumelu, chairman of Heir Holdings, says government policies have been making it hard for African youth to succeed in their endeavours. Speaking on Thursday at a…

How Maryam Sanda Threatened To Cut Late Husband’s Part – Witness Makes Shocking Revelations In Court
Shocking
16 views
Shocking
16 views

How Maryam Sanda Threatened To Cut Late Husband’s Part – Witness Makes Shocking Revelations In Court

PH - April 20, 2018

The first prosecution witness in the trial of Maryam Sanda over the alleged murder of her husband, Bilyamin Bello yesterday gave evidence in court. The witness revealed…

This Is What Singer Wande Coal Has to Say About His Alleged BabyMama’s Child Claims
Best of Nigeria
32 views
Best of Nigeria
32 views

This Is What Singer Wande Coal Has to Say About His Alleged BabyMama’s Child Claims

MT - April 20, 2018

After being accused by his babymama, Temitope Ogunnusi of abducting his son since 2010, Nigerian singer, Wande Coal has finally broken his silence. Ogunnusi had accused Wande…

How My Skin Colour Almost Made Me Lose My First TV Commercial – Ireti Doyle
Best of Nigeria
37 views
Best of Nigeria
37 views

How My Skin Colour Almost Made Me Lose My First TV Commercial – Ireti Doyle

MT - April 20, 2018

Actress Iretiola Doyle has shared a post to encourage ladies who are dark-skinned. The legendary Nollywood actress wrote on how her skin color almost made her lose…

Moment Nollywood Actress, Onyii Alex Got Robbed At Gunpoint At Night (Video)
Entertainment
19 views
Entertainment
19 views

Moment Nollywood Actress, Onyii Alex Got Robbed At Gunpoint At Night (Video)

MT - April 20, 2018

Popular Nigerian actress, Onyii Alex has told a story, detailing how she was robbed recently. She took to her Instagram page to share the testimony. According to…

SEE What Nigerian Big Boy Did With Money At His Sister- in-law’s Wedding (Pics/Video)
Entertainment
22 views
Entertainment
22 views

SEE What Nigerian Big Boy Did With Money At His Sister- in-law’s Wedding (Pics/Video)

MT - April 20, 2018

Nigerian billionaire, Nwanta Anayoeze Yonaracha popularly known as TMT who is an Oil and Gas magnate was pictured spraying some millions at his sister- in-law’s wedding, Mrs…

Revealed: 5 Times The Mace Has Come Under Serious Attack In Nigeria’s History
Politics
27 views
Politics
27 views

Revealed: 5 Times The Mace Has Come Under Serious Attack In Nigeria’s History

MT - April 20, 2018

No, the disappearance of the mace from the floor of the senate on Wednesday, April 18, 2018, isn’t the first time that lawmaking symbol of authority has…

#BBNaija: Emotional Cee-C Finally Apologizes to Tobi After Raining Insults On Him Yesterday (Videos)
Entertainment
84 views
Entertainment
84 views

#BBNaija: Emotional Cee-C Finally Apologizes to Tobi After Raining Insults On Him Yesterday (Videos)

MT - April 19, 2018

  Social media went abuzz yesterday when Big Brother Naija housemate, Cee-C went haywire and poured abusive words on fellow housemate, Tobi. Many Nigerians who became really…

P-Square’s Paul Okoye Seen Drinking Garri in His Lagos Mansion (Photos)
Entertainment
76 views
Entertainment
76 views

P-Square’s Paul Okoye Seen Drinking Garri in His Lagos Mansion (Photos)

MT - April 19, 2018

Multi award-winning Nigerian singer, Paul Okoye popularly known as Rude Boy of the defunct P-Square has taken to his Instagram page to share an unbelievable photo of…

Popular Comedian, Arole Reveals How He Nearly Died At An Event With Reekado Banks
Best of Nigeria
70 views
Best of Nigeria
70 views

Popular Comedian, Arole Reveals How He Nearly Died At An Event With Reekado Banks

MT - April 19, 2018

Woli Arole, one of the Nigerian comedians causing some serious buzz on social media, has stunned his fans with a story about his life. The comedian took…

7 Things You Probably Didn’t Know About Afropop Singer, Simi As She Turns 30
Best of Nigeria
59 views
Best of Nigeria
59 views

7 Things You Probably Didn’t Know About Afropop Singer, Simi As She Turns 30

MT - April 19, 2018

Simisola Bolatito Ogunleye simply known as Simi is one of the top female musicians in Nigeria. Simi warmed her way into the hearts of Nigerians with her soulful renditions…

9 Times Cee C Has Shown She is the Most Controversial BBNaija 2018 Housemate
Best of Nigeria
64 views
Best of Nigeria
64 views

9 Times Cee C Has Shown She is the Most Controversial BBNaija 2018 Housemate

MT - April 19, 2018

There is no doubt that BB Naija 2018housemate is trending right now and has always trended for being controversial.   She has said, acted, and behaved in…

BBNaija’s Lolu And Anto Hang Out With Singer Tekno
Best of Nigeria
63 views
Best of Nigeria
63 views

BBNaija’s Lolu And Anto Hang Out With Singer Tekno

MT - April 19, 2018

Former Big Brother Naija ,Housemate Lolu And Anto meets with Tekno. The former big brother naija who are currently on tour meets with Tekno at Naija fm…

Read Prophet Olagoroye Faleyimu’s Prophesies On Funke Akindele: ‘Marry A Gateman To Have Child’
Best of Nigeria
70 views
Best of Nigeria
70 views

Read Prophet Olagoroye Faleyimu’s Prophesies On Funke Akindele: ‘Marry A Gateman To Have Child’

MT - April 19, 2018

Popular Lagos-based prophet Olagoroye Faleyimu in a recent chat with Yoruba Movie Magazine has once again urged Funke Akindele to go for prayers if she ever wants…

Jayne Senior: Child Abuse Informer Invited To Nigeria
World Buzz
57 views
World Buzz
57 views

Jayne Senior: Child Abuse Informer Invited To Nigeria

PH - April 19, 2018

Rotherham child abuse whistleblower Jayne Senior is to lead a delegation to Nigeria offering advice on how to tackle child sexual exploitation (CSE). She will travel to…

5 Quotes that Show President Buhari is Bad at Diplomacy
Best of Nigeria
71 views
Best of Nigeria
71 views

5 Quotes that Show President Buhari is Bad at Diplomacy

MT - April 19, 2018

Nigeria’s President Muhammadu Buhari has again courted controversy with his statements at the ongoing Commonwealth Heads of Government Meeting in the United Kingdom. A recent comment belittling Nigeria’s young people has…

Loading...