The federal government has revealed that 55 public offers embezzled a total of N1.34 trillion, in seven years – between 2006 and 2013.
Minister of Information and Culture Alhaji Lai Mohammed announced this at a press conference in Abuja, on Monday, January 18.
He said the figure represented more than a quarter of last year’s national budget.
He revealed that 15 former governors allegedly stole 146.84 billion naira; four former ministers, 7 billion naira and 12 former federal and state officials, N14 billion. Eight people in the banking industry allegedly stole 524 billion while 11 businessmen allegedly stole 653 billion naira.
The period covered the end of former President Olusegun Obasanjo’s second tenure, late President Umaru Musa Yar’Adua and his successor, Goodluck Jonathan.
Using World Bank Rates and Costs, the minister said one third of the stolen funds could have provided 635.18 kilometres of road; built 36 ultra modern hospitals, that is one ultra modern hospital per state; built 183 schools; educated 3,974 children from primary to tertiary level at 25.24 million per child; and built 20,062 units of 2-bedroom houses. “This is the money that a few people, just 55 in number, allegedly stole within a period of just eight years. “The situation is dire and the time to act is now,” Lai Mohammed said.
He added: “And instead of a national outrage, all we hear are these nonsensical statements that the Government is fighting only the opposition, or that the government is engaging in vendetta. T
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