Under the proposed arrangement, individuals who have diverted public or private funds into foreign jurisdictions would be granted a specific window to return the capital to Nigeria. In exchange for full disclosure and the voluntary repatriation of these assets, the Senator suggests that such individuals could be granted immunity from prosecution and a waiver on certain penalties. Daniel emphasized that the primary goal should be to re-inject these billions of dollars back into the struggling Nigerian economy to fund critical infrastructure and social programs.
"The reality is that much of our nation's wealth is sitting idle in European and American banks, benefiting foreign economies while our people suffer," Daniel stated. He noted that a "truth and reconciliation" model for financial crimes could provide a faster route to economic recovery than decades of uncertain court battles. While some of his colleagues in the Senate expressed interest in the economic potential of the move, others have raised ethical concerns, arguing that an amnesty could embolden future corruption by suggesting that looters can simply pay their way out of criminal responsibility. The proposal has been referred to the Senate Committee on Anti-Corruption and Financial Crimes for further review.
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Former Ogun State Governor and serving Senator, Gbenga Daniel, has proposed a legislative framework for granting amnesty to Nigerians who voluntarily repatriate stolen funds currently stashed in foreign bank accounts. Senator Gbenga Daniel, representing Ogun East, has sparked a fresh national debate by advocating for a specialized amnesty program aimed at encouraging the return of illicit funds held...
Key takeaways
- Former Ogun State Governor and serving Senator, Gbenga Daniel, has proposed a legislative framework for granting amnesty to Nigerians who voluntarily repatriate stolen funds currently stashed in foreign bank accounts.
- Senator Gbenga Daniel, representing Ogun East, has sparked a fresh national debate by advocating for a specialized amnesty program aimed at encouraging the return of illicit funds held by Nigerians in offshore accounts.
- Speaking during a plenary session on Wednesday, April 1, 2026, the lawmaker argued that the current approach of litigation and international forfeiture is too slow and often results in significant portions of the money being lost to legal fees and foreign administrative costs.Under the proposed arrangement, individuals who have diverted public or private funds into foreign jurisdictions would be granted a specific window to return the capital to Nigeria.
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What is this story about?
Former Ogun State Governor and serving Senator, Gbenga Daniel, has proposed a legislative framework for granting amnesty to Nigerians who voluntarily repatriate stolen funds currently stashed in foreign bank accounts. Senator Gbenga Daniel, representing Ogun East, has sparked a fresh national debate by advocating for a specialized amnesty program aimed at encouraging the return of illicit funds held...
Who published this story?
Glow 99.1 FM published this story with Oyebade Oluwatobiloba listed as author.
When was it published?
April 2, 2026
