CoSP10: Group lauds rising profile of Nigeria in asset recovery

From:Femi Oyelola, Kaduna

The Africa Network for Environment and Economic Justice (ANEEJ), has lauded Nigeria’s rising profile in beneficial ownership and transparency in asset recovery.
This was contained in a statement by the Executive Director of ANEEJ Rev. David Ugolor and made available to the media in Kaduna yesterday.
He stated this at the Tenth Session of the Conference of the States Parties to the United Nations Convention against Corruption (CoSP10) in Atlanta, United States.
The group, a leading civil society organization dedicated to combating corruption said they are particularly elated about Nigeria’s rising profile as a leading country in Asset recovery and beneficial ownership transparency of legal persons and legal arrangements in the UN.
This according to him is coming after intense and difficult rounds of negotiations, which commenced in Vienna in November, and to the glory of God, the draft resolution on beneficial ownership transparency was agreed upon in the committee of the whole, now adopted as a resolution of CoPs 10. This is a big victory for those of us working in the sector.”
Ugolor, a Sussex University Alumni further stated that “the resolution highlights a significant step forward in the global fight against corruption.
The commitment to enhancing beneficial ownership transparency aligns with our mission to hold those engaging in corrupt acts accountable. The Conference, in its resolution on “Enhancing the Use of Beneficial Ownership Information to Strengthen Asset Recovery,” underscores the crucial role of beneficial ownership transparency in combating corruption & addressing the misuse of legal entities for concealing illicit proceeds.
“We are encouraged that the conference recognizes that the loss of resources caused by corruption, including complex cases such as those involving multiple national jurisdictions and vast quantities of assets, which constitutes a substantial proportion of the resources of States, and has a particularly negative impact on developing countries like Nigeria.”