Presidency says recovered loot will be spent to better the lives of Nigerians

The Special Adviser to the President on Media and Publicity, Mr.

Speaking to Punch Newspapers, Adesina reportedly said the citizenry can be assured of transparency in the spending of the recovered loot.

In his words, “The President said it sometimes ago in Kaduna that recovered money would be spent on the development of infrastructure. The infrastructure includes roads and railways among others."

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Continuing, Adesina said, 'Nigerians can be assured that the money would be spent transparently and judiciously. They have nothing to fear.

The Federal Government’s target is to recover N386bn of looted fund according to the 2016 Appropriation Act, which has been signed into law by Buhari.

The money, it was stated in the document, would be used to finance budget deficit.

Currently, a total sum of N78, 325,354,631.82; $185,119,584.61; £3,508,355.46 and €11, 250, which adds up to over N115.7bn had recovered while 183 buildings and 5 vessels were reportedly recovered by the EFCC, ICPC, DSS and Office of the Attorney-General of the Federation.