EFCC RECOVERED LOOTS: N116.2bn, 239 property recovered


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Details of cash, assets seized in Nigeria, overseas

From Magnus Eze, Abuja

TRUE to its word, the Federal Government yesterday released details of funds confiscated from individuals, which were allegedly stolen from government treasury, including seized assets acquired with

such looted funds. The funds recovered in cash in naira, US dollars, British pounds and Euro amounted to a little over N116.2 billion.

President Muhammadu Buhari had in his Democracy Day broadcast promised that details of the recovered looted funds would be disclosed within the week. Senior Special Assistant

to the President on Media and Publicity, Mallam Garba Shehu, was specific that it would be released Thursday.

However, the Minister of Information and Culture, Alhaji Lai Mohammed, in a statement made available to the media in Abuja yesterday gave details of the interim report on the financial and assets recoveries made by the various government agencies from May 29, 2015 to May 25, 2016.

According to him, the details showed that the government recovered cash totaling N78,325,354,631.82;;

$185,119,584.61;; 3,508,355.46 Pounds Sterling, and 11, 250 Euros from 29 May 2015 to 25 May 2016. Mohammed also disclosed that recoveries under interim forfeiture (cash and assets) during the period totaled N126,563,481,095.43;; US$9,090,243,920.15;; 2,484,447.55 Pounds Sterling and 303,399.17 Euros.

The statement said that the interim report on the financial and assets recoveries made by the various government agencies showed that “the funds awaiting return from foreign jurisdictions amounted to $321,316,726.1;; 6,900,000 Pounds and 11,826.11 Euros.” It further showed that non-­cash recoveries including farmlands, plots of land, uncompleted buildings, completed buildings, vehicles and maritime

vessels during the period totaled 239. The statement, however, did not give details of those the loots were recovered from.

Below is a tabulated breakdown of the recovered cash and assets:

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