The Federal Government said it recovered N3.2bn (£6,324,627.66) of looted funds in 14 months. The period spanned March 2021 to May 2022. The recovered monies were from different countries across the world. It also announced that it garnered about N1.82bn from the sale of bid forms and the actual sale of properties that were pronounced forfeited to the Federal Government by various Courts of competent jurisdiction.
Attorney-General of the Federation and Minister of Justice, Abubakar Malami, made the disclosure on Thursday in Abuja at the 46th Session of the State House Briefing. The briefing was organised by the Presidential Communications Team.
Malami stated that the recovered foreign loots have since been disbursed into key infrastructure projects nationwide. These, he said, include the Second Niger Bridge, Abuja-Kano Road and the Lagos-Ibadan expressway. Malami, however, lamented that the country is still struggling with a funding gap of about N329bn.
He equally explained that an inter-ministerial committee on the audit and recovery of back years on stamp duty has so far recovered N596,055,479.47.