Nigeria makes N1.8b from sale of forfeited assets – Malami

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN) on Thursday, January 12, 2023, revealed how much the Federal Government has realised from forfeited assets.

Malami stated this in a presentation at the PMB Administration Scorecard in Abuja.

What FG made from forfeited assets: According to Malami, the federal government has gathered the sum of N1, 823,788.146.86 from forfeited assets.

Malami said, “In line with the cardinal principle of the present administration in the fight against corruption, a total sum of N1, 823,788.146.86 has been generated from forfeited properties.

Some of the recovered funds are being used on the financing of critical infrastructure. including Lagos-Ibadan Expressway, the Second Niger Bridge and Abuja-Kano Highway.”

How Abacha's loot was spent: The minister disclosed that $641 million recovered loot from Gen. Sani Abacha has been used for social investment and the development of critical infrastructure.

Malami further stated that $319 million out of the $641 million was spent on the Lagos-Ibadan Expressway, the Second Niger Bridge and the Abuja-Kano Highway.

Malami said the Buhari administration has succeeded in addressing mounting judgment debts.