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Sunday, 5 June 2016

Latest List Of Recoveries From Treasury Looters


The executive council of the Federal Republic of Nigeria has revealed a statement consisting of the total amount of money recovered from looters of public funds and federal treasury since the inception of President Muhammadu Buhari's administration. A document presented and issued by the Minister of Information, Lai Mohammed, though he did not include the names of persons from whom the recoveries were made.

The full statement released by the Minister and a breakdown of the recoveries of funds and assets made so far, are shown below.

List of Looters Released by the Buhari's Administration
The federal government of Nigeria under the leadership of President Muhammadu Buhari listed the cash recoveries in three currencies of which the total sums for the denominations are: 

N78,325,354,631.82 (Seventy-eight billion, three hundred and twenty-five million, three hundred and fifty-four thousand, six hundred and thirty-one Naira and eighty-two kobo);

$185,119,584.61 (One hundred and eighty-five million, one hundred and nineteen thousand, five hundred and eighty-four US dollars, sixty one cents);

3,508,355.46 Pounds Sterling (Three million, five hundred and eight thousand, three hundred and fifty-five Pounds and 46 Pence) and 11, 250 Euros (Eleven thousand, two hundred and fifty Euros) from 29 May 2015 to 25 May 2016.

The statement released on Saturday, 6th June, 2016 in Lagos indicated that the Minister of Information and Culture, Alhaji Lai Mohammed disclosed the recoveries under interim forfeiture (cash and assets) during the period under review to be a total sum of N126,563,481,095.43 (One hundred and twenty six billion, five hundred and sixty-three million, four hundred and eighty-one thousand, and ninety-five Naira, forty-three Kobo; $9,090,243,920.15 (Nine billion, ninety million, two hundred and forty-three thousand, nine hundred and twenty Dollars, fifteen cents; 2,484,447.55 Pounds Sterling (Two million, four hundred and eighty fourthousand, four hundred and forty sevenPounds, fifty five Pence) and 303,399.17 Euros (Three hundred and three thousand, three hundred and ninety-nine Euros, 17 cents ).

According to the statement, which is based on the interim report on the financial and assets recoveries made by the various government agencies from 29 May 2015 to 25 May 2016, the Funds Awaiting Return From Foreign Jurisdictions total $321,316,726.1 (Three hundred and twenty one million, three hundred and sixteen thousand, seven hundred and twenty six Dollars, one cent); 6,900,000 Pounds (Six million, nine hundred thousand Pounds) 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. This is the breakdown of the recovered cash and assets. We will keep you updated with further information on recoveries of looted funds.
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Item Reviewed: Latest List Of Recoveries From Treasury Looters Rating: 5 Reviewed By: Joseph Etim