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FG keeps promise, releases details of looted funds and properties
President Muhammadu Buhari

FG keeps promise, releases details of looted funds and properties

When President Muhammad Buhari promised to make the recoveries so.far made in his anti-corruption war public, many did not take him serious by the FG had good its promise via a release by Information and Culture Minister, Alhaji Lai Mohammed. Here are details
The Federal Government made cash recoveries totaling
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);
$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.
In a statement in Lagos on Saturday, the Minister of Information
and Culture, Alhaji Lai Mohammed, also disclosed that Recoveries
Under Interim Forfeiture (cash and assets) during the period totaled
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; $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 ).
According to the statement, which is based on the interim report
on the financial and assets recoveries made by the various
government agencies from 29 May 2015 to 25 May 2016, the
Funds Awaiting Return From Foreign Jurisdictions total
$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).
It showed that Non-Cash Recoveries (Farmlands, Plots of Land,
Uncompleted Buildings, Completed Buildings, Vehicles and
Maritime Vessels) during the period total 239.
The following is the breakdown of the recovered cash and assets:
INTERIM REPORT ON FINANCIAL AND ASSET RECOVERIES MADE
BY THE FEDERAL GOVERNMENT OF NIGERIA FROM 29 MAY 2015
TO 25 MAY 2016
Cash Recoveries
Serial
Items
Naira
US Dollar
GB Pounds
Euro
1
EFCC Cash at hand
39,169,911,023.00
128,494,076.66
2,355
11,250
2
Royalty/tax/payment to FGN account in JP Morgan account New
York
4,642,958,711.48
40,727,253.65
3
ONSA Funds Recovery Account in CBN
5,665,305,527.41
8,000,000.00
4
VAT recovered from companies by ONSA
529,588,293.47
5
EFCC Recovered Funds Account in CBN
19,267,730,359.36
455,253.80
6
ICPC Revenue Collection Recovery in CBN
869,957,444.89
7
Office of the Attorney General
5,500,000,000
5,500,000
8
DSS Recoveries
47,707,000.5
1,943,000.5
3,506,000.46
9
ICPC Cash Asset Recovery
2,632,196,271.71
Total
78,325,354,631.82
185,119,584.61
3,508,355.46
11,250
Recoveries Under Interim Forfeiture
Serial
Items
Naira
US Dollar
GB Pounds
Euro
1
Cash in bank under interim forfeiture
8,281,577,243.92
1,819,866,364.73
3,800.00
113,399.17
2
Amount frozen in bank
48,159,179,518.90
7,131,369,498.49
605,647.55
3
Value of properties under interim forfeiture
41,534,605,998.00
77,844,600.00
1,875,000.00
190,000.00
4
Value of cars under interim forfeiture
52,500,000.00
5
ONSA Funds under interim forfeiture
27,001,464,125.20
43,771,433.73
6
Value of Assets Recovered by ONSA
512,000,000.00
7
ONSA Assets under interim forfeiture
260,000,000.00
8
DSS Recoveries Frozen in Banks
658,929,000.00
226,476.20
9
EFCC Cash in Bank under final forfeiture
103,225,209.41
17,165,547.00
Total
126,563,481,095.43
9,090,243,920.15
2,484,447.55
303,399.17
Grand Total
204,888,835,727.25
9,275,363,504.76
5,992,803.01
314,649.17
PRESS RELEASE
LOOTING: FG RELEASES INTERIM REPORT ON FINANCIAL,
ASSETS RECOVERIES
The Federal Government made cash recoveries totaling
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);
$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.
In a statement in Lagos on Saturday, the Minister of Information
and Culture, Alhaji Lai Mohammed, also disclosed that Recoveries
Under Interim Forfeiture (cash and assets) during the period totaled
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; $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 ).
According to the statement, which is based on the interim report
on the financial and assets recoveries made by the various
government agencies from 29 May 2015 to 25 May 2016, the
Funds Awaiting Return From Foreign Jurisdictions total
$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).
It showed that Non-Cash Recoveries (Farmlands, Plots of Land,
Uncompleted Buildings, Completed Buildings, Vehicles and
Maritime Vessels) during the period total 239.
The following is the breakdown of the recovered cash and assets:
INTERIM REPORT ON FINANCIAL AND ASSET RECOVERIES MADE
BY THE FEDERAL GOVERNMENT OF NIGERIA FROM 29 MAY 2015
TO 25 MAY 2016
Cash Recoveries
Serial
Items
Naira
US Dollar
GB Pounds
Euro
1
EFCC Cash at hand
39,169,911,023.00
128,494,076.66
2,355
11,250
2
Royalty/tax/payment to FGN account in JP Morgan account New
York
4,642,958,711.48
40,727,253.65
3
ONSA Funds Recovery Account in CBN
5,665,305,527.41
8,000,000.00
4
VAT recovered from companies by ONSA
529,588,293.47
5
EFCC Recovered Funds Account in CBN
19,267,730,359.36
455,253.80
6
ICPC Revenue Collection Recovery in CBN
869,957,444.89
7
Office of the Attorney General
5,500,000,000
5,500,000
8
DSS Recoveries
47,707,000.5
1,943,000.5
3,506,000.46
9
ICPC Cash Asset Recovery
2,632,196,271.71
Total
78,325,354,631.82
185,119,584.61
3,508,355.46
11,250
Recoveries Under Interim Forfeiture
Serial
Items
Naira
US Dollar
GB Pounds
Euro
1
Cash in bank under interim forfeiture
8,281,577,243.92
1,819,866,364.73
3,800.00
113,399.17
2
Amount frozen in bank
48,159,179,518.90
7,131,369,498.49
605,647.55
3
Value of properties under interim forfeiture
41,534,605,998.00
77,844,600.00
1,875,000.00
190,000.00
4
Value of cars under interim forfeiture
52,500,000.00
5
ONSA Funds under interim forfeiture
27,001,464,125.20
43,771,433.73
6
Value of Assets Recovered by ONSA
512,000,000.00
7
ONSA Assets under interim forfeiture
260,000,000.00
8
DSS Recoveries Frozen in Banks
658,929,000.00
226,476.20
9
EFCC Cash in Bank under final forfeiture
103,225,209.41
17,165,547.00
Total
126,563,481,095.43
9,090,243,920.15
2,484,447.55
303,399.17
Grand Total
204,888,835,727.25
9,275,363,504.76
5,992,803.01

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