The United Kingdom has reaffirmed its commitment to collaborating with Nigerian agencies to tackle corruption and illicit financial flows. British High Commissioner to Nigeria, Richard Montgomery, made this announcement at a policy conversation on the state of anti-corruption in Nigeria, organized by Agora Policy in Abuja.
Montgomery emphasized the UK’s dedication to working with Nigerian authorities, citing the partnership between the UK’s National Crime Agency and Nigerian agencies, such as the Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit. This collaboration aims to track illicit financial flows and recover corrupt assets, particularly those linked to the UK.
The High Commissioner highlighted the progress made in building beneficial ownership registers in collaboration with Nigerian partners. This initiative enables law enforcement and regulatory agencies to better combat corruption and financial crimes by identifying the true owners of companies.
Montgomery also acknowledged the UK’s support for Nigeria’s Extractive Industries Transparency Initiative, which seeks to improve transparency in the oil and extractive sectors. While progress has been made in providing better information on licensing, revenue, and expenditure, more needs to be done to attract further investment and ensure full transparency in the sector.
The UK’s commitment to tackling financial crime both domestically and internationally was reiterated by Montgomery. He emphasized that real change must come from Nigerian leaders and institutions, while acknowledging the UK’s financial sector’s involvement in global financial secrecy.
Other speakers at the event included World Bank Country Director for Nigeria, Dr. Ndiamé Diop, and Prof. Adele Jinadu, who stressed the need for a holistic approach to addressing corruption in Nigeria. The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, reiterated the agency’s commitment to using the fight against corruption to stimulate the economy and support critical social investment initiatives.
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