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Saturday, 4 June 2016

Nigeria Seizes Billions Of Pounds In Looted Cash



Nigerian officials say they have seized more than $10.3bn (£7.1bn) in looted cash and assets in the past year as part of an anti-corruption drive by the country's president.
Information Minister Lai Mohammed said the funds include $583.5m in cash and $9.7bn in cash and assets under interim forfeiture, including sea-going vessels, buildings and land.

The minister's special adviser Segun Adeyemi told Reuters: "All these are monies recovered from individuals and entities who had either hidden, stolen, diverted or were in possession of monies belonging to the nation.
"These recovered funds include monies withheld by past government officials, monies kept in private accounts, monies diverted to private pockets and monies in possession of government officials not disclosed after leaving government."
Nigeria also expects the return of some $330m stolen from its public treasury and moved to overseas banks, most of it in Switzerland, according to Mr Mohammed.
He did not name any officials, but the government has previously promised to publish their names.
Hundreds of people have reportedly been arrested on suspicion of corruption offences in Nigeria during the past year.
Current trials include that of retired Colonel Sambo Dasuki, national security advisor to former president Goodluck Jonathan.
He is accused of diverting $2.1bn in funds intended to fight Boko Haram insurgents.
Dasuki's financial director Shuaibu Salisu has told the court that $47m in cash was put into 11 suitcases and taken from the country's central bank to his home.
But Dasuki says Mr Jonathan had told him the money should be used to bribe party officials to help him win his party's presidential nomination.


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