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Hilbroy Advisory: EFCC Recovers U.S. $11 Billion, 459 Houses, 593 Vehicles/Oil Vessels
Hilbroy Advisory: EFCC Recovers U.S. $11 Billion, 459 Houses, 593 Vehicles/Oil Vessels
The EFCC Chairman said though Nigeria was yet to have special courts, the crusade for its creation which in 2008 had continued to win more support and advocates across the country.
Montreal,
Quebec,
Canada
(prbd.net)
01/06/2011
Montreal, Quebec, May 31st, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: Chairman of the Economic and Financial Crimes Commission, EFCC, Mrs. Farida Waziri has called for an unconditional repatriation of over $148 billion annually stolen from African countries and hidden in safe havens in developed economies.
Waziri who made the call while presenting the Nigeria's paper at the just concluded 1st Commonwealth Regional Conference for Heads of Anti-Corruption Agencies in Africa, in Gaborone, Botswana, also challenged her colleagues from other African countries to go beyond bemoaning the slow pace of corruption cases in courts to definite demand for the establishment of special courts that would prosecute only graft cases.
She said until this was done, anti-graft agencies on the continent would continue to complain about the slow pace of trial of corruption cases.
The EFCC Chairman said though Nigeria was yet to have special courts, the crusade for its creation which in 2008 had continued to win more support and advocates across the country.
A statement by EFCC's Head of Media and Publicity, Mr. Femi Babafemi, noted that despite the constraints of slow judicial process, the support and independence given to the anti-graft agency by the federal government especially President Good luck Jonathan had made it to cover a lot of grounds within a space of eight years.
According to Waziri, "If without special courts we can secure over 600 convictions within this short time, you can imagine what we will do if we are to have dedicated judges or courts to hear only corruption cases.
"Today, our record of recovery is in excess of $11 billion. But beyond this, we have seized through both summary and interim forfeiture orders 459 units of real estate, 593 units of vehicles/ oil vessels, 404 units of bank accounts and 183,627 units of other assets within the same period even though we are yet to start operating a non-conviction based assets forfeiture regime which we desire."
"What it means is that, with special courts and assets forfeiture law, the war against graft would have been taken to a different level."
Waziri further called on developed countries that have provided safe havens for looted funds to return them unconditionally, noting that the idea of holding on to stolen funds even after they have been traced and established as ill-gotten provides a distortion in global macroeconomic indices.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
About
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
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