Recouping proceeds of corruption: is there any need to reverse extant trends by enacting civil forfeiture legal regime in Nigeria?
نویسندگان
چکیده
Purpose The aim of this study is to investigate how Nigeria can seek legal assistance on recovery its stolen assets reduce corruption and ensure no sheltered havens for incomes from corruption. Design/methodology/approach research adopts a conceptual method by using existing literature with the application doctrinal technique. likewise uses primary secondary sources legislations such as legislative provisions, case laws provisions Chapter V United Nations Convention against Corruption process asset recovery. compares Kingdom, USA, Hong Kong in China, South Africa proceeds gain basic features that would be beneficial reforming anti-corruption laws. Findings principle territorial sovereignty under international law makes offence not punishable outside jurisdiction state where was committed. As result, some developed states boost their economy these developing are impoverished. There also an allegation discrepancies figures funds recovered agencies. Thus, there need transparency; civil forfeiture corruption; bilateral treaties; mutual investigation, confiscation among countries tracing returning Research limitations/implications estimates volume looted vary widely because complexity collecting data official statistics do exist each agency occasionally pronouncements without any breakdown terms seized, nature locations values. Such aid policymakers measure effectiveness present enhance effectiveness. Practical implications Considering clandestine manners being committed, it tasking correctly evaluate amount money so, economic impacts nation’s economy. Social Absence accurate Originality/value offers modules management establishing “Assets Management Commission” “Proceeds Forfeiture Funds” reparation victims’ suggests necessity corruption, which presently lacking, creation Proceeds Recovery Commission manage advocate establishment victims
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ژورنال
عنوان ژورنال: Journal of Money Laundering Control
سال: 2021
ISSN: ['1758-7808', '1368-5201']
DOI: https://doi.org/10.1108/jmlc-09-2020-0107