'FG recovers N78bn from looters,' Minister releases details

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June 4, 2016 11:34 AM

The President Muhammadu Buhari administration said it has recovered the total of N78 billion from May 29, 2015 to May 25, 2016.

The Federal Government has revealed details of assets recovered from those who looted public funds.

Although the Presidency promised that the details would be released last Thursday, at the latest, the Minister of Information and Culture, Lai Mohammed, made the revelation in a statement issued on Saturday, June 4.

The President Muhammadu Buhari administration said it has recovered the total of N78 billion from May 29, 2015 to May 25, 2016.

According to the statement, the recoveries under interim forfeiture (cash and assets) during the period is a total of one hundred and twenty six billion, five hundred and sixty three million, four hundred and eighty one thousand, and ninety five naira, forty three kobo; Nine billion, ninety million, two hundred and forty three thousand, nine hundred and twenty Dollars, fifteen cents ($9,090,243,920.15); Two million, four hundred and eighty four thousand, four hundred and forty seven Pounds, fifty five Pence (2,484,447.55 Pounds Sterling); and Three hundred and three thousand, three hundred and ninety-nine Euros, 17 cents (303,399.17 Euros)

The Minister also disclosed that the financial and assets recoveries made by the various government agencies from May 29 , 2015 to May 26, 2016, are still awaiting return from foreign jurisdictions.

He put the total of the funds at $321,316,726.1 (Three hundred and twenty one million, three hundred and sixteen thousand, seven hundred and twenty six Dollars, one cent); 6,900,000 Pounds (Six million, nine hundred thousand Pounds) and 11,826.11 Euros (Eleven thousand, eight hundred and twenty six Euros, 11 cents).

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Mohammed further revealed that non-cash recoveries during the period totals 239, which includes Farmlands, Plots of Land, Uncompleted Buildings, Completed Buildings, Vehicles and Maritime Vessels.

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