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FG Recovers £6.3m, €5.4m, $390m, N1.8bn Looted Assets

The federal government, under the Muhammadu Buhari administration, said that it recovered £6.3 million, €5.4 million, and $390 million of its assets stowed by corrupt government officials in foreign nests.

The Attorney General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami, made this known on Thursday during a ministerial scorecard of the justice sector from 2015 till date in Abuja.

The Minister also said the government realised a sum of N1.8 billion locally from the sale of forfeited assets in the last seven years of this regime.

He said part of the recovered amount had been used on projects such as the reconstruction of the Abuja–Kano Expressway, Lagos–Ibadan Expressway and the construction of the Second Niger Bridge in the South-East.

“In compliance with presidential mandates and foreign judicial processes, the Ministry has recovered total sums of £6,324,627.66; €5,494,743.71; and $390,000,000 from various jurisdictions.

“Some of the recovered funds are being utilized in the financing of critical infrastructure including Abuja – Kano Expressway, Second Niger Bridge, and Lagos – Ibadan Expressway,” he said.

“A total sum of N1,823,788,146.86 has been generated so far by the Ministry from the forfeited properties,” Mr Malami added.

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