Sat. Dec 3rd, 2022
Stop Lamenting, Join Political Parties – Osinbajo Tells Nigerian Youth

Acting President Yemi Osinbajo, has called for the sanction of banks and other financial institutions that help in financial crimes both locally and internationally. Osinbajo made the call when he spoke at the Conference on Promoting International Co-operation in Combating Illicit Financial Flows and Enhancing Asset Recovery to Foster Sustainable Development in Abuja. Osinbajo in his speech, said many countries have signed treaties for combating drugs and human trafficking related crimes but have failed to deploy such measures towards the fight against financial crimes. Speaking at the event, Osinbajo said:
“Many countries have signed treaties that proceed from drugs, illegal traffic in person proceeds of money. Somehow proceeds from political corruption have not attracted the same outrage that proceeds from narcotics and trafficking in persons have attracted. It took years for some people to agree that when somebody loots money where people make a decent living that is more criminal than the crime against humanity, more dangerous than trafficking in drugs. It is a good thing that we are here with our partners who agree that not only are these stolen assets criminalize but that they are returned to their appropriate owners. There is no way this the transfer of this assets can happen without a handshake between the countries that they are transferred and the international banking institutions in the countries in which they are transferred, there is no way it will happen without some form of connivance. We have to look at somehow delegitimizing those kinds of Financial Institutions and criminalizing them so that banks and financial institutions that actually engage in this are being called out and made to face the consequences of engaging in criminal practices. If that isn’t done we are not likely to go very far. For there to be collaborations, there must first be connivance in the agreement and conventions we will be signing. We must find a way to ensure that financial institutions are not given a free run and must also hold them accountable”.

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