On Thursday 12th May 2016, the UK Prime Minister - David Cameron hosted a landmark anti-corruption summit in London aimed at stepping up global action to expose, punish and drive out corruption in all walks of life. This summit according to the UK government website is seeking to galvanise a global response to tackle corruption. As well as agreeing a package of actions to tackle corruption across the board, it also dealt with issues including corporate secrecy, government transparency, the enforcement of international anti-corruption laws, and the strengthening of international institutions.
The summit communique stressed that; “corruption is at the heart of so many of the world’s problems. It erodes public trust in government, undermines the rule of law, and may give rise to political and economic grievances that may, in conjunction with other factors, fuel violent extremism. Tackling corruption is vital for sustaining economic stability and growth, maintaining security of societies, protecting human rights, reducing poverty, protecting the environment for future generations and addressing serious and organised crime. No country is immune from corruption and governments need to work together and with partners from business and civil society to tackle it successfully.”
The summit communique stressed that; “corruption is at the heart of so many of the world’s problems. It erodes public trust in government, undermines the rule of law, and may give rise to political and economic grievances that may, in conjunction with other factors, fuel violent extremism. Tackling corruption is vital for sustaining economic stability and growth, maintaining security of societies, protecting human rights, reducing poverty, protecting the environment for future generations and addressing serious and organised crime. No country is immune from corruption and governments need to work together and with partners from business and civil society to tackle it successfully.”
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| Anti-corruption Summit, London 2016. Source: BBC |
- expose corruption so there is nowhere to hide
- punish the perpetrators and support those affected by corruption
- drive out the culture of corruption wherever it exists
Among the attendees in London was the Nigerian President - Muhammadu Buhari whose country was labelled as “fantastically corrupt” by david Cameron prior to the summit. Asked if he was disappointed with the UK Prime Minister’s comments, Mr Buhari said he was rather interested in the return of stolen assets held in British Banks - credit to him really. If all the money stolen by corrupt African officials sitting in foreign banks were return back to Africa, then it will go a long way in offsetting that burden of foreign aid to the continent.
It is no hidden fact that the corruption endemic in Africa is the greatest setback to development efforts in the continent. But it is equally blatant that corruption in Africa and indeed in the developing world is mainly facilitated by foreign firms in developed/western countries. Most foreign firms are often accused of engaging in bribery in order to secure favourable deals in their overseas operations. According to Transparency International, half of all OECD countries are violating their international obligations to crack down on bribery by their companies overseas.
Thankfully though a global plan to recover stolen assets was launched at the anti-corruption summit in London. To be held in the US sometime next year, it shall be co-hosted by the UK and supported by the UN and the World Bank. A step in the right direction to tackle Africa’s greatest nemesis and a global menace for that matter. Hopefully sooner rather than later, there will be no more hiding place for ill-gotten wealth anywhere in the world.
It is no hidden fact that the corruption endemic in Africa is the greatest setback to development efforts in the continent. But it is equally blatant that corruption in Africa and indeed in the developing world is mainly facilitated by foreign firms in developed/western countries. Most foreign firms are often accused of engaging in bribery in order to secure favourable deals in their overseas operations. According to Transparency International, half of all OECD countries are violating their international obligations to crack down on bribery by their companies overseas.
Thankfully though a global plan to recover stolen assets was launched at the anti-corruption summit in London. To be held in the US sometime next year, it shall be co-hosted by the UK and supported by the UN and the World Bank. A step in the right direction to tackle Africa’s greatest nemesis and a global menace for that matter. Hopefully sooner rather than later, there will be no more hiding place for ill-gotten wealth anywhere in the world.
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