Senate President says anti-graft agencies are relooting recovered funds

Senate President,

While speaking at the Strategic Retreat on Tracking the Progress of Anti-corruption Bills in the National Assembly on Tuesday, the Senate President said the act is unfortunate as it has become a barrier to retrieving more stolen loot from foreign countries.

He said, "The National Assembly has been strident about the opacity shrouding the management of recovered funds, which in many cases get re-looted by the agencies that investigated and recovered them.

"Nigeria is finding it difficult to convince other nations to return funds looted from our treasury. This is because of the other nations' exasperation over the management of returned assets. Only recently, Mr. President inaugurated a committee to audit all assets recovered by various government agencies."

The Senate President urged all relevant agencies to work faithfully to erase the global impression of Nigeria as a terribly corrupt country.

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Buhari inaugurates audit committee

To provide more accountability, President Muhammadu Buhari inaugurated a three-member committee to audit all assets recovered by government agencies on November 22.

The president swore in Olufemi Lijadu, Chinyere Bibiogha and Mohammad Nami in the presence of cabinet ministers and directed them to audit all remittances up till April 2017.

He said the committee will audit all accounts in which the recovered assets were lodged to ensure reports submitted to him were accurate.

The president said the committee had become necessary because "it has become obvious that fundamental gaps still exist in ensuring that the recovered assets are accounted for, and managed in an accurate, transparent and logical manner."

He directed the committee to conduct the audit within four weeks and submit its report to his office.