Nigeria signs agreement with UAE on recovery of stolen funds

President Muhammadu Buhari in UAE

Nigeria and the United Arab Emirates (UAE) Tuesday in Abu Dhabi signed six agreements to enhance bilateral relations between them.

The signing of the agreements on trade, finance and judicial matters was witnessed by President Muhammadu Buhari and the Crown Prince of the United Arab Emirates, Mohammed Bin Zayed Al Nahyan.

Nigeria’s Minister of Finance, Kemi Adeosun, and the UAE Minister of State for Financial Affairs, Obaid Attayar, signed the Avoidance of Double Taxation Agreement, while the Minister of Trade and Investment, Okechukwu Enelamah, signed the Agreement on Trade Promotion and Protection with the UAE Minister of State for Financial Affairs.

The Minister of Justice, Abubakar Malami, and his counterpart in the United Arab Emirates, Bin Saeed Albadi, signed the Judicial Agreements on Extradition, Transfer of Sentenced Persons, Mutual Legal Assistance on Criminal Matters, and Mutual Legal Assistance on Criminal and Commercial Matters, which includes the recovery and repatriation of stolen wealth.

At a reception after the signing of the agreements, President Buhari reiterated his commitment to fighting corruption and restoring Nigeria’s dignity in the comity of nations.

The president also urged all Islamic countries to support the fight against terrorism in Nigeria and denounce the atrocities of Boko Haram as un-Islamic and against the teachings of Prophet Mohammed.

In his remarks, Prince Zayed Al Nahyan said the relationship between Nigeria and the UAE would be strengthened by President Buhari’s visit and the signing of the agreements.

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  • bib

    Good move. Safe havens are fast dwindling for the thieving crowd!

  • Johnson

    This is a landmark agreement. I commend the government for this timely initiative in the fight against corruption. It confirms that a lot of work is going on in the background. I also commend the UAE govt for the sacrifice-not allowing dirty money to find sanctuary in their country

  • New Nigerian

    This is wonderful news on the work to killing corruption (before it kills Nigeria), recovering looted commonwealth, eliminating terrorism and reviving the economy on the journey of Nigeria back to it’s rightful place in the comity of Nations.

  • Sword of Damocles

    Huge Agreements. The betrayers of Nigeria hid a lot of Nigeria’s stolen monies in the UAE. Chai, these bastards(looters & betrayers) will curse the day they decided to “put the bottom of their s on Nigeria’s neck”. I believe in an almighty Creator/Being, and I know that our Creator is JUST, thus I have confidence that these traitors & their families will get the JUSTICE that every bone in their miserable bodies is CRYING Out for. Let us dare to overthrow the ruling elites, and watch how Nigeria will blossom & bloom, God save the FRN

  • objective

    Smart move; because that is where loots are channelled now.

    • Tunsj

      Agreed. Many of them have a lot of properties in Dubai.

      • band olu

        Most of Ekiti state allocation is invested in Dubai……Don’t say I told u oooo…

        • Holy truth

          Noted.

      • dah

        All the 36 states in nigeria is represented including abuja . why only ekiti state?

  • ilesanmi

    It is one thing to sign an agreement for diplomacy sake and entirely different hing to abide and enforce the terms of the agreement to the letter. When the details of this agreement on repatriation of crime fund will be made available legal experts may locate much lacuna as well as tall legal mountains that must be climbed to get fund repatriated from that state.
    Don’t forget that UAE owes much of it rapid development to illicit fund stashed and invested in that economy.

    .

    • Bryan

      It almost sounds like you are pained by this agreement. You are already looking out for loopholes in the agreement. May God help you.

      • Reymeline

        His response does not mean he is against the agreement – he is try to call our attention that a lot has been invested in Dubai by our policitian-tooter and thus has contributed to the developmnetal growth of Dubai and if UAE govt discovers it may have adverse effect on their economy, they may turn deaf hear in recover of the looted funds and property

        • ilesanmi

          Thanks for proper reasoning

    • tundemash

      We know rogues and their benefactors are saddened by this development.

  • Screw-em

    The workings of a genius on display for all to see. “F9” in math yet putting our so called Harvard and O’tuoke “PhD’s” to shame! …Sai Changiii for sure!!!!!!!

    • Olu from South Africa

      I think the air has been cleared that the “PhD” is “…PDP thing…”

  • Datti

    Some governors and ex-governors will be shitting in their pants now. Next place for these types of agreement is South Africa

    • Olu from South Africa

      I hope PMB gets full support of SA. All our money in SA can be found in Sandton and some of the looters of our commonwealth are friend to the big boss here.

  • ijelejames

    Very good agreement. Go ahead Buhari, Meaningful Nigerians are behind you.

    • Reymeline

      Meaningful Nigerians are behind you – I like this statement

  • Holy truth

    Nice moves, d blood pressure of these heartless treasury looters would have gone high now with this news. Wow! I’m so excited & pleased with this news.
    Some idiots who are d enemies of good things would call my able president all kinds of names 4 doing what needs to be done to get all d stolen money back. God will give buhari divine wisdom dat will make him successful in any steps he takes to recover our stolen money.

  • Wale

    Hmmmmmm
    Nigerian Government would now own a lot properties in Dubai and Abu Dhabi.
    Somebody please let me know when the auction start. Clean Nigerian citizens should have the first shot at it.

  • kumi

    What happens to atiku and tinubu and all the northern Governors that work under PDP that are now in APC buhari thank you for starting this campaign the next president coming after you will still investigate APC government