The federal government says between March 2021 and May 2022,
a total of €6,324,627 was recovered from foreign countries as funds looted from
Nigeria.
Abubakar Malami, minister of justice and attorney-general of
the federation, said this on Thursday at a state house press briefing held in
Abuja.
Malami said the administration of President Muhammadu Buhari
is committed to the recovery of looted funds and the use of the recovered funds
for critical infrastructure development.
Speaking on the sale of forfeited assets, the minister said
the federal government has generated N1,823,788,146 from within the period of
18 months.
“Now coming to the period in consideration, which is the
18-month period we are talking about, I start with revenue generation and sale
of forfeited assets,” he said.
“You are aware that the president has put in place an
inter-ministerial committee that was saddled with the responsibility, not only
identifying the forfeited assets, but indeed disposing assets.
“That committee has been working. Within the period in consideration
of 18 months, a total sum of N1,823,788,146 has been generated so far from sale
of bid forms and actual sale of forfeited properties.
“Again, stamp duty recoveries arising from the legislation,
the office of the attorney-general of the federation is saddled with the
responsibility of effecting recovery. Among the recoveries that are sanctioned
for the office of the attorney-general is stamp duty.
“[There is] an inter-ministerial committee on audit and
recovery of back years of stamp duty because there has been a backlog and there
is a need for recovery of such backlog from agencies, corporate bodies among
others.
“I’m happy to state that the inter-ministerial committee
engaged various recovery agents to recover and generate additional revenue for
the government.
“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.
“In complying with
the presidential mandate and foreign judicial processes, the ministry has
recovered a total sum of €6,324,627 from various jurisdictions.
“And some of the recovered funds are equally being utilised
in the financing of critical infrastructure, including Abuja-Kano expressway,
Second Niger bridge and Lagos-Ibadan expressway.”
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