The president Muhammadu Buhari-led federal government
has finally released the first set of information on loot
recovered during his administration.
The president was expected to give this information during
his address on May 29 which commemorated his first year
in office but it was later revealed that this would be done
through the office of Mr Lai Mohammed, who is the
minister of information and culture.
In a statement issued by the minister on Saturday, June 4,
it was revealed that the country had recovered
N78,325,354,631.82 and also $185,119,584.61. Also
3,508,355.46 Pounds Sterling and 11, 250 Euros were also
recovered between May 29 2015 and 25 May.
Read the full statement issued via the presidency office
below:
The Federal Government made cash recoveries totaling
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 eight 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.
In a statement in Lagos on Saturday, the Minister of
Information and Culture, Alhaji Lai Mohammed, also
disclosed that Recoveries Under Interim Forfeiture (cash
and assets) during the period totaled 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 four thousand, four hundred and forty seven
Pounds, 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.
The following is the breakdown of the recovered cash and
assets:
