We Recovered Millions Of Looted Funds Stored In Foreign Currencies Abroad

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The Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami has said that Nigeria recovered £6.3m, €5.4, and $390,000 of its assets stowed by corrupt government officials in foreign accounts.

Malami made this known on Thursday, Jan. 12, during a ministerial scorecard of the Justice Sector from 2015 till date.

He said: “In compliance with presidential mandates and foreign judicial processes, the Ministry has recovered total sums of £6,324,627.66 (Six Million, Three Hundred & Twenty-Four Thousand, Six Hundred & Twenty-Seven Pounds, Sixty-Six Pence); €5,494,743.71 (Five Million, Four Hundred and Ninety-Four thousand, Seven Hundred and Forty-Three Euro, Seventy-One Cents); and $390,000,000 (Three Hundred and Ninety Million dollars) from various jurisdictions.

“Some of the recovered funds are being utilized in the financing of critical infrastructure including Abuja – Kano Expressway, Second Niger Bridge, and Lagos – Ibadan Expressway.”

The minister also said the Buhari administration realized a sum of N1.8bn locally from the sale of forfeited assets between 2015 and till date.

“A total sum of N1,823,788,146.86 (One Billion, Eight Hundred and Twenty-Three Million, Seven Hundred & Eighty-Eight Thousand, One Hundred and Forty-Six Thousand naira, Eighty-Six kobo) has been generated so far by the Ministry, from the forfeited properties,” he said.

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