Osinbajo - Foreign Institutions Help Thieves Steal Nigeria's Money
The Acting President wants people to call a spade, a spade and not a garden tool.
He has challenged financial institutions in Nigeria and those abroad to stop allowing themselves to be used to steal Nigeria's scare and limited resources.
Professor Yemi Osinbajo said this on Monday in Abuja while giving an address at the 'Conference on Promoting International Co-operation in Combating Illicit Financial Flows and Enhancing Asset Recovery to Foster Sustainable Development'.
He described the practice as a “handshake’’ between the countries where the funds are transferred from and financial institutions and countries to which the assets are transferred.
“So we must work at somehow delegitimizing those kinds of transactions and criminalizing them, just as Mr Akere Muna said, so that banks and financial institutions that are engaged in this are actually called out and are made to face the consequences of engaging in criminal conduct.
“If that isn’t done we are not likely to get very far", he said.
“If we don’t ensure that people are as outraged as we are we are not going to get very far no matter what we say.
“Every country will protect its financial institutions as best as it can as long as it is not necessarily suffering any major damage; they probably will not cooperate,’’ he added.