Nigeria and 59 other nations set to sign sanction on looters

President Muhammadu Buhari of Nigeria

The Federal Government of Nigeria and 59 other nations will in May sign agreement on the sanctions to be imposed on corrupt political and public office holders. President Muhammadu Buhari will join 59 other world leaders in the United Kingdom to seal the pact by which any of the 60 countries involved would no longer be a “safe haven” for treasury looters. Some of the sanctions that may be imposed on culprits include:
•    travel restriction or denial of entry visa into the 60 countries;
•    rejection of request for political asylum by corrupt political and public office holders;
•    likely loss of citizenship;
•    no more approval of naturalization for any corrupt person;
•    no establishment of shell companies abroad; and
•    the corrupt will not be allowed to operate foreign accounts in any of the 60 nations.

The agreement will make it difficult for those stealing public funds in the country to escape abroad or operate slush accounts to stash cash away. The affected countries will also design ways of sharing intelligence on corrupt officers and money launderers. We will all key into this understanding as part of the global action against corruption. With this development there will be no hiding place for any public office holder who steals funds from these countries.