The UK parliament passed a provision of the Criminal Finance Bill in April last year. A key section of this bill is the introduction of the Unexplained Wealth Orders which came into effect last week. This move has been hailed as a critical tool to promote the global fight against corruption and illicit flows. The unexplained wealth orders will allow the UK authorities freeze and recover suspicious assets in excess of fifty thousand pounds, until they have been properly accounted for by their owners. Mustafa Chike-Ob, Executive Vice Chairman of Alpha African Advisory and former Managing Director of the Asset Management Corporation of Nigeria joins CNBC Africa to discuss this and more.
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