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What has become of Nigeria’s recovered loots? Lawmakers investigate

Members of Nigeria’s lower legislative house may have began an inquest into how huge sums of money stolen from Nigeria but recovered and returned to the country is being managed

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Members of Nigeria’s lower legislative house may have began an inquest into how huge sums of money stolen from Nigeria but recovered and returned to the country is being managed. Speaker of the House of Representatives, Hon. Yakubu Dogara, gave an indication in this development recently.

Speaking at a public hearing by the House Joint Committee on Public Accounts and Finance on the need to ascertain the status of recovered Public funds and assets from 1999 to date, Dogara informed that lawmakers were bent on investigating the confusion that has trailed the exercise.

“It is common knowledge that there are a lot of conflicting reports and claims from various agencies of government concerning the status of the funds and assets recovered from some citizens and corporate entities by law enforcement agencies. As a Parliament, we cannot fold our arms and allow the confusion trailing the whereabouts of the recovered funds and assets to continue.

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This is why the House of Representatives resolved to mandate this Joint Committee to investigate the issue in the interest of accountability and transparency.”

He added, “We believe that as a Parliament, we owe the people of Nigeria the duty to ascertain the resources available to government and how they are being appropriated in their interest. This is in line with the exercise of our Constitutional powers in Sections 88 and 89 of the Nigerian Constitution, 1999 as amended.”

The total value of recovered funds and assets is estimated at $2trillion and the House has also mandated its Committee on Financial Crimes to investigate whether any crimes have been committed in the course of the management and disbursement of funds recovered by the Federal Government in the last 12 years.

Politics

Mozambique’s top court affirms governing party’s victory in recent election

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The highest court in Mozambique affirmed Monday that the incumbent Frelimo party won the October election, sparking widespread demonstrations from opposition parties who claim the vote was manipulated.

Fears of fresh bloodshed have been raised in the nation already shaken by weeks of fatal protests after Mozambique’s top electoral court mostly confirmed the results of the country’s contentious October elections, reinforcing the Frelimo party’s decades-long hold on power.

The final decision on the election process rests with the Constitutional Council. Mozambique, a nation of over 35 million people in Southern Africa that Frelimo has ruled since 1975, is expected to see more protests in response to its judgement.

Mozambique operates a framework of a semi-presidential representative democratic republic in a multi-party system. The president of Mozambique serves as both the head of state and the head of government.

The government exercises executive power. The administration and the Assembly of the Republic have the authority to enact laws.

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Alliance of Sahel States opposes ECOWAS disengagement schedule

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The Economic Community of West African States (ECOWAS) withdrawal timeline has been rejected by the Alliance of Sahel States (AES), which is made up of Mali, Burkina Faso, and Niger.

The AES claims that the ECOWAS is attempting to destabilise their newly formed organisation.

During a meeting last week in Abuja, Nigeria, the regional organisation announced a six-month withdrawal period to give the three nations time to change their minds after their official departure date at the end of January 2025.

However, this decision is “nothing more than yet another attempt by the French and its auxiliaries to continue planning and carrying out destabilising actions against the AES,” according to the heads of state of the AES.

“This unilateral decision is not binding on the ESA countries,” the statement continues. Before the conference, they stated that their choice to leave the organisation was “irreversible.”

According to the president of the Ecowas Commission, this will be a “transition period” that ends on “July 29, 2025” to “keep the doors of Ecowas open.”

The three nations accused the bloc of neglecting to assist them in resolving their domestic security challenges and of imposing “inhumane and irresponsible” sanctions related to the coup.

The three nations that were involved in the coup have mostly rejected ECOWAS’ attempts to undo their withdrawal. They are creating their alliance and have begun thinking about how to issue travel passports independently of ECOWAS.

It is anticipated that they will finish giving their one-year notice of departure in January.

Visa-free travel to other ECOWAS members is a significant perk of membership, and it is unclear how this would alter after the three nations exit the group.

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