N115bn expected from Switzerland, UK, UAE, US

Abimbola Akosile in Lagos and Olawale Ajimotokan in Abuja

In line with the promise President Muhammadu Buhari made on May 14 in London to give details of looted funds recovered by the administration during the first anniversary of his presidency, the federal government yesterday released an interim report specifying the recovered cash and assets. The report contained in a statement in Lagos by the Minister of Information and Culture, Alhaji Lai Mohammed, said the cash recoveries made between May 29, 2015 and May 25, 2016, including recoveries under interim forfeiture (cash and assets), totalled over N3. 4 trillion. It said about N115 billion was being awaited from the Switzerland, United Kingdom, United Arab Emirates, and the United States.



Cash recovery within the period included 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) and varying sums in other currencies, namely, $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. These total about N144.9 billion.

Recoveries under interim forfeiture (cash and assets) during the period included 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) and the following amounts in other currencies: $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 ). These come to about N3. 3 trillion.

Funds awaiting return from foreign jurisdictions included $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).

The recovered funds and assets were listed under four broad categories, namely, cash recoveries; recoveries under interim forfeiture; funds awaiting return from foreign jurisdictions, and non-cash recoveries.

The report also showed that there were non-cash recoveries (farmlands, plots of land, uncompleted buildings, completed buildings, vehicles and maritime vessels) totalling 239 items.

About N39,169,911,023.00 was recovered through the Economic and Financial Crimes Commission, which also secured $128,494,076.66, £2,355 and 11,250 Euros.

In addition, the sums of N5,665,305,527.41 and $8,000,000.00 were recovered from the on-going searchlight on the Office of the National Security Adviser (ONSA), while the loots recovered by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and lodged with CBN were put at N2,632,196,271.71. Also N47.7 million, $1.94 million and £3.50 million in cash were recovered through the Department of State Services (DSS).

Under the report, cash recoveries involving royalty and tax payments to the federal government in JP Morgan account in New York was put at N4,642,958,711.48 (four billion, six hundred and forty-two million, nine hundred and fifty-eight thousand, seven hundred and 11 naira, forty-eight kobo), and $40,727,253.65 (forty million, seven hundred and twenty-seven thousand, two hundred and fifty-three dollars, sixty-five cents).

The office of the Attorney-General of the Federation also recovered N5,500,000,000 (five billion, five hundred million naira) and $5,500,000 (five million, five hundred thousand dollars) in cash.

Buhari had said in an interview during the global anticorruption summit in London, “So far, what has come out, what has been recovered in whatever currency from each ministries, departments and individuals, I intend on the 29th to speak on this because all Nigerians are getting from the mass media because of the number of people arrested either by the EFCC, DSS. But we want to make a comprehensive report on the 29th.”

The president faced widespread criticism when in his Democracy Day speech on May 29 he failed to disclose the recovered funds as promised.

http://www.thisdaylive.com/index.php/2016/06/05/keeping-his-promise-buhari-announces-recovery-of-n3-4-trillion-in-one-year/

This guy's have no conscience. About half of this year's budget criminally stolen away, what will life owe to our children if this had continue unabated and unchecked...??


#May God continue to expose them one after the other, they shall know no peace anywhere they go.....!!

Hmm

And yet they say change is nowhere to be found. Slow and steady wins the race, I will keep on saying it and won't stop.
What Buhari will achieve in the next 3yrs none of is predecessors achieved it.
As for PDP and some Nigerians who have taken buhari for a magician, when that time comes I'll remember y'll.

Luukasz:
And yet they say change is nowhere to be found. Slow and steady wins the race, I will keep on saying it and won't stop.
What Buhari will achieve in the next 3yrs none of is predecessors achieved it.
As for PDP and some Nigerians who have taken buhari for a magician, when that time comes I'll remember y'll.

Seems PDP hexed them. They behave as if PDP own Nigeria.

Let's hope it will not be re-looted.

Patiently Waiting For Mr Lia Mohammed statement on this.

masterpiece86:
This guy's have no conscience. About half of this year's budget criminally stolen away, what will life owe to our children if this had continue unabated and unchecked...??
#May God continue to expose them one after the other, they shall know no peace anywhere they go.....!!

AMEN!

PDP had an agenda to bankrupt Nigeria.

Can anyone imagine the useless party claiming the recovery was a lie?
How possible for anyone to say he has recovered monies with him if he doesn't? PDP as a party cannot be taken serious by any serious person.

We need credible opposition parties. Not the loquacious PDP.

Jesus..
Why economy no go crash.
E no go better for anybody wey dey support PDP..
And recovering of loots still going on,by the time dem finish.. E go reach 6trillion money for budget

Jesus..
Why economy no go crash.
E no go better for anybody wey dey support PDP..
And recovering of loots still going on,by the time dem finish.. E go reach 6trillion money for budget

And despite this, APC still said the country is broke?

These may just be fabricated figures.

How are these figures fact, when we know that this government is about to kill us with lies

Uncle clarus our hero of democracy...

What of the corrupt men in APC won't dey probe them to collect more money from them.

Utter nonsense. Fictitious figures splashed on the pages of newspapers with no real evidence. This government thinks every nigerian is a phool. You have recovered this much money, and yet you were going from country to country to beg like a dog. And after they all turned you down, you then placed a fuel tax on Nigerians. Keep on fooling yourselves and the pathetic Yorubas. In 2019, you will see wehn.

If the probe is extended to APC looters I believe PMB will recover close to 10 trillion

He should name the looters as well.

buharifraud:
Utter nonsense. Fictitious figures splashed on the pages of newspapers with no real evidence. This government thinks every nigerian is a phool. You have recovered this much money, and yet you were going from country to country to beg like a dog. And after they all turned you down, you then placed a fuel tax on Nigerians. Keep on fooling yourselves and the pathetic Yorubas. In 2019, you will see wehn.

**** will they start spending the recovered loot just like that without doing feasibility studies on what to do with it.

ArmedRobber:


U re the fool here will they start spending the recovered loot just like that without doing feasibility studies on what to do with it.

Feasibility studies. Look at this clown. Have you not noticed that your ministers and the FG have lost enthusiasm and hope. They are clueless on what to do, they have no money to even guess what to do, and are not even sure of what should be done. Don't worry, keep on fooling yourself, abi we are in this country.

Now we can see the connection between renewed hostilities in the Niger Delta and these recovered funds.

Corruption is surely fighting back.


We will not be deterred.

God bless PMB, God bless Nigeria.

We can milk half of that recovered money from sen saraki alone! In PMB's voice "Kai this is kwarupshan" . Almighty Jehovah help this kwantri Nigeria,amen.

K

Ok

buharifraud:
Utter nonsense. Fictitious figures splashed on the pages of newspapers with no real evidence. This government thinks every nigerian is a phool. You have recovered this much money, and yet you were going from country to country to beg like a dog. And after they all turned you down, you then placed a fuel tax on Nigerians. Keep on fooling yourselves and the pathetic Yorubas. In 2019, you will see wehn.

I'm trying to figure out the reason for the "pathetic yoruba" in ur incoherent senseless rants. Anyways, I'm not surprised. your post shows ur emotional n psychological depth. It shows u are bereft of logical thinking and just a loose kid with mb, ranting and hating like he has been taught at home for no just cause. News flash, Your wailing just started. You still have approximately three years more to wail cos it's obvious you are decided not to see anything good in this govt and yorubas.




God bless you Mr president.

No NAME Here?

May God help us in this country...

Wetin they go use the 3.4trn do? While Nigeria looses over 14billion daily

of what use is the money if it does not end up in the stomach of the masses.

share this money even if na 100 naira each Nigerian.

Thank You sir,
When will that translate to better life?