CSOs: how $505m recovered funds were re-looted

 A field assessment report on the projects embarked upon with recovered public funds by previous governments has alleged re-looting of the funds.

The assessment was conducted Coalition of Civil Society organizations including Human and Environmental Development Agenda, (HEDA Resource Centre), Civil Society Network Against Corruption, (CSNAC), Journalists for Democratic Rights, (JODER), Value and Integrity Group and PLAYYA.

The investigation was said to have focused on the $505 million Abacha loot recovered from Swiss Government in 2004 which the government under President Olusegun Obasanjo committed to financing specific projects under the millennium development goals (MDGs).

However, the findings conducted by the CSOs early this year revealed that most of the projects were either not carried out or abandoned.

The report said project sites scattered across 23 locations in five geo-political zones of the country.

It includes sites in Rivers, Cross River, Imo, Anambra, Oyo, Ogun, Adamawa and Sokoto States.

Presenting the report at a press briefing in Lagos on Thursday, Chairman of CSNAC, Suraju Olanrewaju said the coalition is compiling the list of contractors with a view to forwarding them to the anti-graft agencies for investigations.