Collective European Union action could mean no hiding places for evaders, no safe haven for tax avoiders, and no treasure islands for money launderers.
At the World Bank, we are already working with our clients in developing countries to improve their governance systems, collect taxes, fight corruption, and recover stolen assets.
We in Nigeria have seen just how difficult it is to get back stolen assets from the international financial system, such as banks that ought not have received those funds in the first place if even the most routine questions were asked.
Tracing, freezing, and return of stolen assets has proved in many cases to be exceptionally difficult for most African countries.
If I were to reason like those who roll out red carpets, I would say we might have some repatriations from the City of London.
I worked for this company that repossessed cars. Sure enough, the day after I quit, they repossessed my car, but that would probably be my strangest job to date. You have to work your way up to become a hardcore repo man.
We have police stations for the poor but CBI, CVC and CAGs for the rich with nearly nil recovery of ill usurped wealth.
Take my assets - but leave me my organization and in five years I'll have it all back.
