Sagay: Why it’s difficult to recover $450m in Swiss Bank

In this Interview with JOHN CHIKEZIE, the chairman of the Presidential Advisory Committee Against Corruption, Professor Itse Sagays, SAN gives an insight into why the Economic and Financial Crimes Commission (EFCC) loses more than winning corruption cases in court What is your committee doing to revive the anti-corruption war especially as the Economic and Financial Crimes Commission (EFCC loses more cases in court? For now, appeals, arguments and points are being x-rayed and prepared. This is simply because there is a difference between justice and law. We don’t want a situation where one would apply law and achieve injustice. So, we are working hard to ensure that law and justice are both harmonized and also working hard on the appeals. Two government officials and some businessmen were alleged to have stolen the sum of N52 trillion in the past seven years. What is the government doing to recover the fund? They are all virtually being prosecuted right now. They are people you know very well but I won’t mention their names. Although, they include bankers and all the big bankers you know that were under trial; some have being tried with plea bargain and they spent about six months before they were eventually released. Hence, some have been concluded while others are still going on. There is one of them, for example, who has gone back as a governor and when he finishes, he is going to be taken back for the trial. Acting President, Yemi Osibanjo said it is costly to recover some of these stolen funds. What has the government done so far in this regards? Well, the ones that are costly are those that are locked up abroad- outside the shores of the country. Most especially, those ones that at the face of it, appear to be willing to release the money but in reality, they are not. At times, there are huge deductions made and costs at the other end. In several occasions, you find people who refer to themselves as consultants, who are helping to trace these funds and thereafter, present huge bills. So, these are some of the issues experienced during the process. The procedures can be complicated, especially when you have to go through a court. So, those are the things causing or creating the high cost or expenses. What is the sum total of these stolen funds trapped in some western countries? It’s really impossible for me to quote the exact figures because there are people who have a deeper knowledge of that than me. The one I know that is outstanding is about $450 million in Switzerland; there could be more which I don’t know but this is the one I know of. What are the difficulties or frustrations experienced in the process of retrieving the looted money? There are several ones like I said earlier. In some cases, they would insist that you go to court to establish a case so that the court can deliver a judgment in your favour. Like the ones in Switzerland, although they are not insisting on that process and are ready to return the money, but they are given conditions where they want the United Nations to be the ones to actually detect how the money should be spent, after we have received it. Therefore, those are the things causing the problems. Former vice president, Mohammed Namadi Sambo is raising the alarm that security agents are desperate to nail him, any faintest idea of this frequent raids on Sambo’s residence by security operatives? I have not the faintest idea as to what their agenda might be. I only know a little as written and published in the papers. But one thing I would say is that these agencies don’t act frivolously because there must be something they must be looking for. And, it may be unfair on the former VP, I would agree, especially because of the repeated nature, but obviously, there is something important they are unto. But I don’t know what it is since nobody has consulted me or given me any information in that regard. How would you rate Buhari, Osinbajo administration in the war against corruption? Since the passage of our first leaders, like Awolowo, Azikiwe and Ahmadu Bello, we have not been lucky enough to have highly principled, consistent, committed men of great integrity and honour like President Buhari and Vice President Osinbajo. Perhaps the only other previous administration close to the present one, is the Murtala Mohammed/Obasanjo Administration. Having been victimized, brutalized, looted, marginalized and contemptuously treated by past administrations, particularly the 12 year torture and brigandry of the PDP, Nigerians are extremely lucky that Buhari and Osinbajo have come on a rescue mission to bring us back from the brink of destruction. We now have leaders who are in office to serve Nigeria and who stand on integrity and high principles. Acting President Yemi Osinbajo has said that no going back on Ibrahim Magu despite Senate’s brouhaha. What is your view? By the statement released by the Acting President to-night, vowing that he and the President will stand by Ibrahim Magu to the end, we are re-assured that if you are committed to your duties and exhibit integrity, an intrepidity and indomitable spirit in your work, no power on earth can shake you. All evil powers holding Nigeria hostage by their unbridled corruption, arrogance, vanity and vindictiveness will be defeated. The message of Buhari and Osinbajo in the Magu saga, is that they have the courage, determination and commitment to fight evil to standstill and that the darkness of corruption will not be tolerated in the bright light of a sane, sanitized and corruption free society they are trying to establish in Nigeria. Let all of us, Nigerian masses, come out in our millions to stand shoulder to shoulder with these exceptional leaders to kick evil, fraud, looting and corruption out of Nigeria. I am personally elated that I have now found an administration that I am ready to serve with all my heart because of their basic decency and love for Nigeria. newtelegraphonline]]>