ANEEJ Report:140m Nigerians Multi-dimensionally Poor

Kuni Tyessi in Abuja

The Africa Network for Environment and Economic Justice, ANEEJ, has said that despite recovered looted assets by the Nigerian government, no fewer than 140 million persons in working age bracket are still multi- dimensionally poor. 

It also revealed that the existing huge gap which is 65 percent of the population remains a challenge in the impactful utilisation of the recovered funds based on realities on ground, as portrayed by World Bank statistics. 

Executive Director of ANEEJ, David Ugolor, who stated this yesterday in Abuja at “the launch of policy brief on assessing the implementation of key GFAR principles in asset return and management in Nigeria”, said high level of poverty and unemployment formed the basis of the research that has provided implementation principles that will give remarkable solutions.

Ugolor said the spotlight on Global Forum on Asset Recovery, GFAR presupposes that once corrupt assets have been identified and legally confiscated, it should be put into use for the benefit of all citizens.

He added this is in line with fulfilling the SDG 2030 goals.

He disclosed that Nigeria and its international partners developed and adopted ten principles for disposition and transfer of confiscated stolen assets, which are referred to as GFAR Principles, while noting that international asset return agreements and MoUs for implementation were also signed.

According to him: “Background and rationale of the research included: high level of poverty as 140 million Nigerians or 65 percent of its population are multi-dimensionally poor. There is also high unemployment rate. World Bank statistics shows that out of 122 million in the working age bracket, only 31 million are employed. 

“Since then, Nigeria has recovered stolen asset from various foreign jurisdictions including the $311.8 million Abacha loot from the Bailiwick of Jersey in 2020, the 5.5 million Euro Abacha loot recovered from Northern Island in 2020, the $954,807.40 Alamieyesiegha loot recovered from the US in 2023, and many others. 

“This landmark publication is the outcome of a six-month research commissioned in October 2024, with support from the Foreign, Commonwealth & Development Office (FCDO). 

“We are excited to contribute to knowledge through the publication of this policy brief which we will influence advocacy priority for stakeholders working on illicit financial flow globally.

“All these events justified the necessity for ANEEJ to undertake comprehensive research to assess the implementation of Key GFAR Principles in Asset Return and Management in Nigeria, covering the past five years.”

Meanwhile, the research particularly examined the application of the GFAR principles relating to transparency and accountability, inclusion of non-government stakeholders, return of assets to beneficiaries, and preclusion of benefit to offenders. 

Also, it made recommendations for improving asset recovery and management framework in Nigeria with a comprehensive understanding of the money laundering risks amongst others.