TI representatives from 11 African countries adopted the Nyanga Declaration, launching a campaign to repatriate Africa's stolen wealth. The declaration, signed at the regional conference in Zimbabwe, calls for "the sealing of all known loopholes, requiring banks to open their books for inspection where there is reasonable cause to suspect illegal activity, and mandatory liquidation and repatriation of assets known to have been corruptly acquired". The chapters called on members of the United ...read more
TI representatives from 11 African countries adopted the Nyanga Declaration, launching a campaign to repatriate Africa's stolen wealth. The declaration, signed at the regional conference in Zimbabwe, calls for "the sealing of all known loopholes, requiring banks to open their books for inspection where there is reasonable cause to suspect illegal activity, and mandatory liquidation and repatriation of assets known to have been corruptly acquired". The chapters called on members of the United Nations to adopt an international treaty to expedite the tracing, recovery and repatriation of wealth stolen from developing countries and transferred abroad.
Participants expressed their support for the Wolfsberg Anti-Money Laundering Principles adopted by 11 leading international banks as "a first step towards stopping the movement of illicit wealth". The Declaration calls upon the Organisation of African Unity to "take a leadership role in representing the interests of Africa with regard to the return of Africa's stolen wealth wherever it may be found on the globe and, as a first step, (to) adopt all reasonable measures to prevent the illegal appropriation and transfer of moneys from Africa's treasuries".
The full text of the Declaration can be found at:
