And we must still borrow $30bn abi. Ok na

divicoded:
Chai! The Ogogoro drinker from Otuoke and his co-travellers really finished this country. Honestly, Nigeria was bleeding while he was at the helm of affairs. Never in the history of Nigeria are we ever going to have this type of non-focused, wicked leaders again, AMEN

#urmumuneverdo?

StOla:

when did zone and state becomes one's name, brother fear God

this is outright madness

olaolulazio:
Previous administration was a mess.

GEJ!!!! Hero of corruption!!!!!!!!

and this current one is messier with the shielding of corrupt people in its party and many more are still defecting or cross carpeting or decamping into it making APC a safe haven for corrupt people.

shammah1:
Tired of hearing all these news. People are still dying of hunger

Bros talk true abeg

How many people you PERSONALLY know wey don die of hunger?

Good job ,well done,but where is the money nah..,can we borrow again.?
We better use these money,and fix Nigerian problems oo!
They are plenty money..

deji15:
EFCC recovers $9.75 million, N1.25 billion in 2 weeks — Magu

http://www.premiumtimesng.com/news/more-news/223076-efcc-recovers-9-75-million-n1-25-billion-2-weeks-magu.html

February 9, 2017

Agency Report

Premium Times
Ibrahim Magu, Acting Chairman of Economic and Financial Crimes Commission (EFCC), on Thursday confirmed the recovery of $9.75 million and £750,000 from a residence in Kaduna state.
He also confirmed that N1.25 billion was recovered from a public servant and said that all the monies were recovered within two weeks.
Mr. Magu stated this in a report he presented to the House of Representatives Committee on Financial Crimes during the 2016 budget performance appraisal and defence of 2017 budget before the committee.
He said the commission recovered N102.91 billion, 8.30 million dollars, GBP 29,155, 12,475 pounds, 117,004 Canadian dollars as proceeds of crime between January and December, 2016.
Other monies recovered during the period, he said, were 806.50 Dirham, 5,000 Francs and 2,000 Rupees.
“Out of the 37 accounts frozen/forfeited, six banks are yet to provide relevant information on the amount accrued into the suspected accounts within the period under review,’’ he said.
The document revealed that the commission secured 135 convictions, out of which 46 were from Lagos zone, 30 from Abuja zone, 22 from Port Harcourt zone, 19 from Kano zone, 15 from Enugu zone and three from Gombe zone during the period.
Mr. Magu acknowledged the support of the committee towards fast-tracking completing of EFCC headquarters in Abuja.


He disclosed that the Federal Ministry of Finance had listed the payment of N1.8 billion out of N2.9 billion meant for completion of the headquarters.
He added that the commission had resuscitated its offices in Kaduna, Ibadan, Benin and Maiduguri as part of efforts to boost its operations across the country.
Mr. Magu urged the legislature to support the fight against graft, saying “corruption is fighting back”.
On recruitment, he said the commission only recruited 331 cadets on equal quota basis across the country except Lagos, Ekiti, Bayelsa and Rivers with lower numbers.
Giving breakdown of the 2016 appropriated allocation to the commission, Mr. Magu told the committee that total budgetary approval was N18.89 billion, but that N14.74 billion representing 78.04 per cent was released.
He explained that N7.62 billion was for personnel cost, overhead was N2.75 billion while capital expenditure was N8.49 billion for the year.
Mr. Magu added that 91.1 per cent component of the released funds had so far been utilised.
Earlier, Chairman of the committee, Kayode Oladele, said that Nigeria had applied to join the league of members of Financial Action Task Force (FATF), an international anti-corruption agency.
He said the move was part of efforts to strengthen ongoing anti-corruption crusade in the country.
Mr. Oladele, who lauded the development, expressed optimism that Nigeria would be admitted as “Observer Member’’ by the end of the year and would become full-time member in the nearest future.
“Our collective efforts to unleash sustainable development in Nigeria through the rooting out of corruption will not produce the desired result if Nigeria is unable to transact in the international market place without let or hindrance.
“In this regard, Nigeria has applied to join the FATF and based on the level of our commitment.
“A high-level delegation from the FATF is due to visit Nigeria in March, 2017, to meet with various stakeholders and report back to its plenary in June, this year.
“I have no doubt that we will be successfully accredited and admitted at the end of the exercise,” he said.


Mr. Oladele commended EFCC for the successes recorded so far and said: “for the first time in Nigeria’s history, anti-corruption searchlights have been beamed on the judiciary and the revelations have been mind-blogging.
“In addition, similar exercises in the arms procurement process by the Nigerian military have also led to several arrests.
“Overall, the EFCC made the highest number of recoveries of stolen resources, running into billions of naira in a single year in the annals of Nigeria’s anti-corruption efforts.”
The chairman solicited the support of Nigerians in stemming the scourge of corruption in various facets of the economy.
According to him, the fight against corruption is one of the most potent weapons to fight recession which structural cause is rooted in waste, looting, misplacement of priorities and misappropriation of yesteryears.
Mr. Oladele also pledged the support of the house to the EFCC and assured of life assurance for the commission’s operatives. (NAN)

Thank you oga Magu. May Almighty ALLAH continue to guide you and may HE reward you for your efforts

olaolulazio:
Previous administration was a mess.

GEJ!!!! Hero of corruption!!!!!!!!

Very soon the lost tribe of Judas will storm this thread to insult people like you.
Tonathan was a colossal mistake.

I think I will quit my job and apply for EFCC job so that I will be getting day pay from this rooted fund

bezimo:
Lies Unlimited.

It's not only millions it's trillions that have been recovered. Telling lies again and again to deceive the gullible that money is been recovered yet the F.G is going out to take loan.

Exactly my mind, and FG and Amechi wants the senate approve loan, nonsense. if these monies have being recovered no need of borrowing.

teebell999:


Any money recovered cannot be touched by anybody no matter your position without passing through due legal processes. So stop masturbating!!

You need to retrieve your sense from the garbage.So there is more wisdom going to borrow money instead of using the alledgely recovered millions of dollars. Your case is beyond redeemable.

Another story

aycapri:
May I know what the government has been using the recovered looted funds for? Am ignorant of this, i need somebody to pls shed more light if u have d idea.

1. Some of the money, the Govt cannot touch until the case is concluded in court and you know how long court cases use to take in Nigeria? It can range from 3 years, 10 years or more.
2. Yes some money were returned willingly or through plead bargain. So far , I doubt the total money returned is up to $1 billion dollars. But for a big country like Nigeria, this is still a drop of rain after many days of drought.
3. This Govt has bailed out states about 3 times as many of them were almost bankrupt as at the beginning of 2015. Where do you think that excess money is coming from despite fall in oil price and lean foreign reserve?
4. As at the end of 2014, the previous Govt was already borrowing to pay salary and has started to owe salary, where do you think the current Govt is getting money to pay their workers?
5. Many oil marketers were owed huge sum of money, where do you think the current oovt is getting the money to clear the debts?
6. Many Federal contractors that have not being paid since 2012 are now being paid and some have returned to site, where do you think the money is coming from?
7. Have you not seeing contractors working on some of Nigeria major roads including railways, where do you think the money is coming from?
8. Over 200,000 thousand graduates were recently engaged by the FG, where do you think the money they are being paid is coming from? Meanwhile FG has not retrenched workers despite the fall in Nigeria oil revenue.
9. Nigeria infrastructure decay is huge so large sums is required to bridge the gap. Mind you Nigeria looters are very smart, Govt has only succeeded in catching the ones that are still in the country and the ones that are being caught , Govt has not being able to recover up to 10% of what they stole
10. When you are investing in infrastructure like this Govt is trying to do despite paucity of fund, it takes time to see the progress. When a road is being built, and before completion which sometimes may take up to 3 or 4 years, before then there might be a detour and many will not appreciate what is going on, but the day the road is completed and open for use, many will rejoice