Abubakar revealed this in a statement issued today by Dr Umar Gwandu, Special Assistant on Media and Public Relations Office of the Minister in Abuja.
According to him, the weird statement by Falana on the process of disbursement and use of recovered stolen funds based on the provisions of the Revenue Mobilization, Allocation and Fiscal Commission Act and Section 153 (1) (n) of the Constitution of the Federal Republic of Nigeria 1999 only depicted an hasty analysis that had no legal foundation.
He added that it is also very misleading to give the impression that recoveries and usage of stolen funds stashed abroad are provided for by the Revenue Mobilization, Allocation and Fiscal Commission Act.
His words, “The Revenue Mobilization, Allocation and Fiscal Commission Act have nothing specific on funds recovered from indicted public officers or assets recovered internationally.
“It merely mentions accruals and disbursement of revenue from the Federation Account.
“So, questions of recovery of stolen funds from indicted public officers and illicit assets recovered internally are not contemplated by the spirit of the law internationally and are appropriately dealt with by other relevant laws.”
“It is, therefore, misleading to give the impression that recoveries and usage of stolen funds stashed abroad are provided for by the Revenue Mobilization, Allocation and Fiscal Commission Act.
“More so when recoveries are product of multiple jurisdictional legislations, thereby bringing recoveries into the purview of conflict of laws.
“One cannot situate rights and entitlements on looted funds and recovered assets with myopic and narrow understating of concepts of the application of local legislation.”
“Section 6 of the Revenue Mobilization, Allocation and Fiscal Commission Act has in part clearly outlines the powers of the Commission.
“In particular, sub-section (1) (a) empowers the Commission to monitor the accruals to and the disbursement of revenue from the Federation Account.
“This purely targets revenue already in the federation account or funds accruing from sources designated by the Constitution of the Federal Republic of Nigeria 1999, as amended.”
“It is interesting to note that Section 80 (1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) contemplates exceptions to funds not payable into the federation account.
“The Section recognises the possibility of having public funds being administered other than through the derivation formula if the funds (in this case recovered stolen funds) were established for a specific purpose.
“The recovery of stolen assets and the subsequent uses are subject to international agreements between Nigeria and the affected countries, thereby bringing conflict of laws into contemplation.”
“The African Union and the ECOWAS Protocols on recovery of illicit funds are equally relevant when it comes to the role of the Nigeria in relation to its other partners.
“As a member of the committee of nations and a respectable international partner, Nigeria must always strive to fulfil its international commitments in the repatriation and use of stolen funds and assets.”
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