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Finally FG releases reports of recovered looted funds

By Olaolu Oladipo, Lagos

The Federal Government has released official figures of sums so far collected from some past officials of state whom it has been investigating for corruption and corrupt practices while in office.

A statement issued by the Minister of Information and Culture, Alhaji Lai Mohammed obtained by BLACKFACE on Saturday gave the figures so far recovered as N78,325,354,631.82, $185,119,584.61, 3,508,355.46 Pounds Sterling.

According to the statement figures form series of efforts that had been made by a committee that the Federal Government had put in place for such purposes and that the recoveries were made between 29 May 2015 to 25 May 2016.

Mohammed in the statement also disclosed that Recoveries Under Interim Forfeiture (cash and assets) during the period totalled N126,563,481,095.43; $9,090,243,920.15; 2,484,447.55 Pounds Sterling and 303,399.17.

The statement is based on an interim report on the financial and assets recoveries made by the various government agencies from 29 May 2015 to 25 May 2016.

The minister added that the Funds Awaiting Return From Foreign Jurisdictions total $321,316,726.1 6,900,000 Pounds and 11,826.11 Euros .

It showed that Non-Cash Recoveries (Farmlands, Plots of Land, Uncompleted Buildings, Completed Buildings, Vehicles and Maritime Vessels) during the period total 239.


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