The Federal Government yesterday made public the much awaited list of cash recoveries from looters within the last one year. The money, which was in local and hard currencies, totalled over N115billion.
The government did not, however, reveal the names of the individuals the funds were recovered from.
President Muhammadu Buhari had last month promised to release details of the funds recovered by various government agencies on May 29, when he would be one year in office, but he instead assigned the task to the Ministry of Information.
Giving the breakdown of the N115bn, the Federal Government in a statement by the Minister of Information, Alhaji Lai Mohammed, said the recovered loot comprised N78.3bn, $185.1m, £3.3m and €11,250.
Also made public were the recoveries of N126.5bn, $9.0bn, £2.4m and €303,399.17 under Interim Forfeiture, comprising both cash and assets.
According to the statement, which is based on the interim report on the financial and assets recoveries made by the various government agencies, the funds awaiting return from foreign jurisdictions totaled $321.3m, £6,900,000 and €11,826.11.
It also showed that non-cash recoveries of farmlands, plots of land, uncompleted buildings, completed buildings, vehicles and maritime vessels numbering 239 were made during the same period.
The cash and assets were retrieved by the Economic and Financial Crimes Commission (EFCC), Office of the National Security Adviser (ONSA), Independent Corrupt Practices Commission (ICPC), Office of the Attorney General of the Federation and the Department of Security Service (DSS).
A breakdown of the showed cash at hand with the EFCC is worth about N39 billion, funds recovered from the ONSA is worth N4 billion, while VAT recovered from companies by ONSA is worth N5 million.
Others, it added, include cash in bank under interim forfeiture worth over N8 billion, amount frozen in bank worth over N48 billion, amongst others.
Reacting to the disclosure, the Senate Leader, Ali Ndume, said the amount recovered showed that the Federal Government was serious in its fight against corruption.
In a phone interview last night, Ndume said the Senate was in total support of the Federal Government in its moves to recover all the stolen funds.
He said at a time when the country’s revenue was shrinking, there was an urgent need to aggressively recover the stolen funds.
“We are on the same page with the Federal Government, we will enact new laws and amend existing ones if need be to fast track the recovery of the funds for the benefit of all. It behoves not only the Senate but all Nigerians to support the Federal Government to recover the looted fund for the execution of projects that would benefit all,” he said.
On the nondisclosure of the names of the looters, he said, “There are legal issues to it. So, I think what the Federal Government has done so far is the best and on our part, we will continue to support the President to fight corruption, recover stolen funds and ensure the prosecution of the perpetrators, if need be.”
Meanwhile, the Presidency yesterday said the law would take its course in respect of the recovered assets.
The Special Adviser to the President on Media and Publicity, Mr Femi Adesina, while responding to a question on what would be the next line of action for the government on the recovered funds and assets, said that would be disclosed at the appropriate time.
“It is an ongoing thing. The law will take its course. At the appropriate time, the next line of action will fall in place,” Adesina said.
Posted via Rayyanu Z Usman
Comments