The Federal Government said, yesterday, it had made cash recoveries totaling N78,325,354,631.82; $185,119,584.61; £3,508,355.46 and €11, 250, from looters of public treasury, from May 29, 2015 to May 25, 2016.
The disclosure was in fulfillment of President Muhammadu Buhari’s promise to make public the details of the cash recoveries on his first anniversary in office.
The President had said, in his broadcast to the nation on the first anniversary, that the details would be provided by the Federal Ministry of Information.
Minister of Information and Culture, Alhaji Lai Mohammed, in a statement, also disclosed that Recoveries Under Interim Forfeiture (cash and assets) during the period totaled N126,563,481,095.43; $9,090,243,920.15; £2,484,447.55.
According to the statement, said to have been based on the interim report on the financial and assets recoveries made by the various government agencies from May 29, 2015 to May 25, 2016, the Funds Awaiting Return From Foreign Jurisdictions totaled 321,316,726.1 Dollars; 6,900,000 Pounds Sterling and 11,826.11 Euros (Eleven thousand, eight hundred and twenty six Euros, 11 cents).
It showed that Non-Cash Recoveries (Farmlands, Plots of Land, Uncompleted Buildings, Completed Buildings, Vehicles and Maritime Vessels) during the period total 239.
REASONS FOR NOT NAMING LOOTERS
It has been made known that the reason why names of looters were not disclosed was because of the need to avoid the potential of truncating the cooperation that was already being enjoyed in the drive to recover looted funds – in the first instance – from some of those from whom funds are being recovered, just as the government did not want to jeopardize the willingness of others to return funds in their possession.
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