The Federal Government (FG) announced that Nigeria recovered £6.3 million, €5.4 million, and $390,000 in assets stashed by corrupt government officials in foreign nests
Abubakar Malami, the Attorney General of the Federation (AGF) and Minister of Justice, during a ministerial scorecard of the Justice Sector from 2015 to date, made the discovery known.
He stated that a portion of the recovered funds were used to rebuild the Abuja-Kano Expressway, the Lagos-Ibadan Expressway, and the Second Niger Bridge in the South-East.
Recovered assets
“In compliance with presidential mandates and foreign judicial processes, the Ministry has recovered total sums of £6,324,627.66 (Six Million, Three Hundred & Twenty-Four Thousand, Six Hundred & Twenty-Seven Pounds, Sixty-Six Pence); €5,494,743.71 (Five Million, Four Hundred and Ninety-Four thousand, Seven Hundred and Forty-Three Euro, Seventy-One Cents); and $390,000,000 (Three Hundred and Ninety Million dollars) from various jurisdictions.
What the money was used for
“Some of the recovered funds are being utilized in the financing of critical infrastructure including Abuja – Kano Expressway, Second Niger Bridge, and Lagos – Ibadan Expressway,” he said.
Malami also stated that the administration of President Muhammadu Buhari earned ₦1.8 billion locally from the sale of forfeited assets from 2015 to date.
“A total sum of N1,823,788,146.86 (One Billion, Eight Hundred and Twenty-Three Million, Seven Hundred & Eighty-Eight Thousand, One Hundred and Forty-Six Thousand naira, Eighty-Six kobo) has been generated so far by the Ministry, from the forfeited properties,” Malami said.
