'Is China's Frustrating Nigeria’s Anti-corruption Crusade?'

 

 

 

'Is China's Frustrating Nigeria’s  Anti-corruption Crusade?'

The Economic and Financial Crimes Commission (EFCC), and the Association of Chief Audit Executives of Banks in Nigeria today formed a collaboration to investigate global financial crimes involving Nigerians.

This is just as the EFCC  pointed fingers at some Asian countries, especially China, allegedly frustrating  Nigeria's efforts in tracing monies transferred without due process.

The team of auditors from Nigerian banks on a visit to EFCC acting Chairman, Ibrahim Magu,

led by the Chairman of the Auditors’ Association, Bimbo Dawodu, said it was important for the commission to reawaken the collaboration with bank auditors so as to achieve remarkable success in the was against graft.

 According to him, “There were collaborative capacity building courses we had together but that has not been happening of late. EFCC can also benefit from the expertise of our members where the need arises”, he said.

 

The association sought EFCC's help in getting other nations to cooperate with the Auditors in the area of financial investigations. They named China and some other Asian countries as those who do not cooperate with such investigations. The association members asked if Interpol could help in this regard.

 

In his response, Magu collaborated that China’s cooperation level is not encouraging, adding that:

“But we can go either through Interpol or government to government," he said.

Magu added the anti-graft agency had enjoyed reasonable level of cooperation from the United States and the United Kingdom, in terms of financial investigations, but said London has not been proactive in a single case of $2 billion involving an old generation bank.