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Saturday, September 24, 2022

#Buhari’s Government Recovers N3.2bn Foreign Loot And Generates N1.82bn From The Sales Of Forfeited Properties In Over 14 Months

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The federal government under President Muhammadu Buhari’s administration has recovered over N3.2bn (£6,324,627.66) of stolen monies from various jurisdictions globally from March 2021 to May 2022.

This is as it generated a total of N1.82bn from the sale of bid forms and actual sale of forfeited properties in the first 18 months of the current administration.

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, disclosed these to journalists at the 46th Session of the State House Briefing organised by the Presidential Communications Team at the Aso Rock Villa, Abuja, on Thursday, August 11, 2022

According to him, the recovered foreign loots have since been disbursed into key infrastructure projects nationwide.

They include the Second Niger Bridge, Abuja-Kano Road and the Lagos-Ibadan expressway.

The AGF who noted that the Justice Ministry has supported the Federal Government in various infrastructure funding agreements lamented that the country currently grapples with a N329bn funding gap.

Malami also explained that an inter-ministerial committee on the audit and recovery of back years on stamp duty has so far recovered N596,055,479.47.

These monies claimed to have been recovered by Buhari’s government are widely believed to have been siphoned out of Nigeria in the 1990s by the associates and family of former Head of State, General Sani Abacha.

The recent recovery of the loot in 2020 was $311 million which was repatriated to Nigeria from the United States and the Bailiwick of Jersey.

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