Nigeria: Confiscation of the Proceeds of Corruption

Abstract

The eradication of corruption is feasible only through the confiscation of the proceeds of corruption. This could be achieved through the joint efforts of national governments, the international community and with the political will in the North. In this paper, it is proposed that zero tolerance to corruption by municipal reforms and international cooperation, could be demonstrated by confiscation of the proceeds of corruption, the billions of dollars illegally kept abroad through money laundering by kleptocrats. The proceeds of corruption should be monitored and policed by an international organisation like the International Criminal Tribunal. The body would avert the disappearance of the money into the black holes of foreign private accounts.

Citation

Olaleye‐Oruene, T.O. (2000), "Nigeria: Confiscation of the Proceeds of Corruption", Journal of Financial Crime, Vol. 8 No. 2, pp. 171-177. https://doi.org/10.1108/eb025981