The Federal Government has revealed that it will restlessly push for the restoration of additional $321 looted fund homed in Switzerland.



Federal Executive Council (FEC), Minister of Justice and Attorney General of the Federation Abubakar Malami, made the approval to carry on the mission yesterday.

The minister last month unveiled that $85M had been recovered out of the amount that is relating to the Malabu Oil deal which is supposed to be credited to the country.

Malami was with Minister of Information Lai Mohammed, Minister of Agriculture Audu Ogbeh, Minister of Water Resources Suleiman Adamu and Minister of Trade and Investment, Okechukwu Enelamah.

Malami said: “As you are aware, the Federal Government has been making efforts to recover stolen funds, loot, assets and the efforts have been indeed yielding fruits particularly as it relates to local recoveries. A memo has been presented to council this afternoon by the office of the Attorney General which is intended to shift focus to international recovery.

“Before going into the memo, I think it is important to bring to your attention that recently, about a week ago, we succeeded in recovering 85million dollars relating to Malabu issues from U.K.

“And then, now, there exist a forum, that is Global Assets Recovery Forum taking place in December, in US and we are looking towards that, we are in agreement substantially with Swiss for the recovery of additional sum of 321million dollars.

“That memorandum of understanding has been substantially agreed between Nigeria and Swiss. We intend to now execute or to sign off the agreement during the global forum on assets recovery coming up December.

“The intention of the memo, one is to seek the approval of the council to allow the Attorney General to sign the agreement on behalf of the Government of the Federation of Nigeria. Two, is to develop an instrument of ratification which will now give the Attorney General, the powers to ensure the repatriation of the funds.

“It is collectively agreed upon between Nigeria and Swiss that we on own part should seek the approval of council to ratify the MoU as agreed, and they on their own part too, procure the instrument of ratification that will now give the respective officers of the two countries the desire power and effect to now sign off on the agreement.

Malami said that the Council had already approved the memo.

“The implication of which is that the MoU as negotiated between Nigeria and Swiss has been agreed and ratified by council and then the Attorney General has been mandated to execute the agreement that will see to the repatriation of the 321million dollars and added to it to develop the instrument of ratification that will be expected from both sides of the device which will constitute the basis for the signing of the agreement in December in US during the global forum on assists recovery.” he said

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source: http://www.kingsleyiwu.com.ng/2017/11/federal-government-moves-to-recover.html

recover this, recover that.

after recovering, they will share the money and Npower n immigration won't carry on their recruitment process.