N3.2bn looted funds recovered in 14 months – FG | Dailytrust

N3.2bn looted funds recovered in 14 months – FG

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, Thursday said Nigeria recovered over N3.2bn (£6,324,627.66) of stolen monies from various jurisdictions globally from March 2021 to May 2022.

He sspoke at the 46th Session of the State House Briefing organised by the Presidential Communications Team at the Presidential Villa, Abuja. 

He said the recovered foreign loots had since been disbursed into key infrastructure projects nationwide, including the Second Niger Bridge, Abuja-Kano Road and the Lagos-Ibadan expressway. 

The minister also said the federal government raised N1.82bn from the sale of bid forms and actual sale of forfeited properties in the last 18 months.

He said Nigeria currently faced a N329bn funding gap. 

He noted that all 648 cases his ministry was defending were incurred by previous administrations.

He said the ministry had so far saved N54,888,343,888.42 and $507,415,901.10 from successfully defending the government.

He said his ministry had secured over 1,000 convictions on terrorism-related cases within the last 18 months apart from the convictions for 312 criminal cases already got within that period.

Malami said his ministry had successfully processed over 350 Mutual Legal Assistance and 50 extradition requests including extradition proceedings against suspended DCP Abba Kyari from the United States of America.

He also said an inter-ministerial committee on the audit and recovery of years on stamp duty had so far recovered N596,055,479.47.

“This exercise also provided job opportunities for over 1,000 professionals including lawyers, accountants, auditors and financial consultants. The ongoing exercise has so far led to the recovery of the sum of N596,055,569.47,” he said.


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