FG recovered 3.2bn looted funds in 14 months – AGF

August 12, 2022
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THE Federal Government says it has recovered over N3.2 billion (£6,324,627.66) stolen from the national treasury from various parts of the world in the space of 14 months. 

The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, disclosed this at the 46th Session of the State House Briefing organised by the Presidential Communications Team at the Presidential Villa, Abuja

The minister said the money was recovered from March 2021 to May 2022.

According to Malami, the recovered foreign loot had since been disbursed into key infrastructure projects nationwide.

The projects include the Second Niger Bridge, Abuja-Kano Road and the LagosIbadan Expressway. 

The AGF also said that the government generated a total of N1.82 billion from the sale of bid forms and actual sale of forfeited properties in the first 18 months of the President Muhammadu Buhari administration.

Malami, who noted that the Justice Ministry has supported the Federal Government in various infrastructure funding agreements, lamented that the country currently grapples with a N329 billion funding gap.

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Stressing that all 648 cases his ministry was defending were from previous administrations, the minister boasted that the ministry had so far saved N54,888,343,888.42 and $507,415,901.10 from successfully defending the government.

He added that the ministry secured convictions in about 1000 terrorism related cases.

“The ministry has so far secured over 1000 convictions on terrorism. Convictions have also been secured in 45 cases by the Complex Casework Group, Maritime Unit, and the Special Task Force on Electricity Offenses and across the 13 zonal offices of the Ministry,” he said.

According to him, the ministry successfully processed over 350 Mutual Legal Assistance and 50 extradition requests including extradition proceedings against suspended Deputy Commissioner of Police Abba Kyari from the United States of America.

Malami also explained that an inter-ministerial committee on the audit and recovery of back years on stamp duty has so far recovered N596,055,479.47.

“This exercise also provided job opportunities for over 1,000 professionals including lawyers, accountants, auditors and financial consultants. The ongoing exercise has so far led to the recovery of the sum of N596,055,569.47,” he said.


Author profile

Usman Mustapha is a solution journalist with International Centre for Investigative Reporting. You can easily reach him via: umustapha@icirnigeria.com. He tweets @UsmanMustapha_M

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