Vice-President Yemi Osinbajo on Thursday lamented that the tracing and returning of stolen assets had become difficult for most African countries.
He attributed the phenomenon to lack of the adherence to the rules promoting transparency in international banking and financial systems.
He said corruption directly fuelled the activities of Boko Haram insurgents in the North-East of the country.
Osinbajo reportedly said this in his remarks at the anti-corruption and integrity forum of the Organisation for Economic Cooperation and Development in Paris.
The Vice-President called for a robust framework on the reparation of stolen assets in order to ‘ensure quick restitution to victim countries’.
The Vice-President noted that it is also clear that most economies ravaged by corruption, usually both as a cause and consequence, do have institutions that are too weak to fight corruption and illicit financial flows.
He made a case for international collaboration which he said remained the smartest and most effective approach to apprehend and deter perpetrators, and ensure restitution of stolen assets.
Osinbajo said in West Africa, efforts towards regional cooperation against graft was under way.
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