FG Finally Release Details Of Recovered Loots


The Federal Government of Nigeria has finally released the details of the recovered loots by various agencies under the President Muhammadu Buhari administration.

The Federal Government listed the cash recovery under the Buhari-led administration from 29 May 2015 to 25 May 2016 as N78,325,354,631.82 (Seventy eight billNion, three hundred and twenty-five million, three hundred and fifty-four thousand, six hundred and thirty one Naira and eighty two kobo); $185,119,584.61 (One hundred and eight five million, one hundred and nineteen thousand, five hundred and eighty four US dollars, sixty one cents); 3,508,355.46 Pounds Sterling (Three million, five hundred and eight thousand, three hundred and fifty-five Pounds and 46 Pence) and 11, 250 Euros (Eleven thousand, two hundred and fifty Euros).

The details of the recovery was made public on Saturday in Lagos by the minister of Information and Culture, Alhaji Lai Mohammed.

The minister also disclosed recoveries under Interim Forfeiture both in cash and assets as N126,563,481,095.43 (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; $9,090,243,920.15 (Nine billion, ninety million, two hundred and forty three thousand, nine hundred and twenty Dollars, fifteen cents; 2,484,447.55 Pounds Sterling (Two million, four hundred and eighty four thousand, four hundred and forty seven Pounds, fifty five Pence) and 303,399.17 Euros (Three hundred and three thousand, three hundred and ninety- nine Euros, 17 cents).

The statement also noted the Funds Awaiting Return from Foreign Jurisdiction as $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).

The public announcement of the recovered funds is in line with the President, Muhammadu Buhari’s promise of transparency during his administration.




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