Proceeds recovered by the United States (U.S.) government from bribery and corruption cases in foreign countries like Nigeria may soon be applied for their proper and intended public use.
This disclosure was made by the U.S. Attorney-General, Eric Holder, while addressing the African Union (AU) summit in Kampala on Sunday, attended by African Presidents including Nigeria’s Goodluck Jonathan
Announcing what he called Kleptocracy Asset Recovery Initiative, Holder said the U.S. Department of Justice is launching the new initiative with the aim of “combating large-scale foreign official corruption and recovering public funds for their intended - and proper - use: for the people of our nations.”
Before now, the U.S. has been recovering parts of bribery and corruption proceeds in cases of foreign corruption without paying attention to the fact that part of those stolen funds were meant for public use in the countries outside the U.S. where the corruption occurred.
