FG Recovers £6.32Million Foreign Looted Funds in 14 Months

The federal government said it has recovered over N3.2bn (£6,324,627.66) of looted funds from various jurisdictions globally from March 2021 to May 2022.

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, who disclosed these to journalists at the 46th Session of the State House Briefing organised by the Presidential Communications Team at the Aso Rock Villa, Abuja.

He also revealed that the government has generated a total of N1.82bn from the sale of bid forms and actual sale of forfeited properties in the first 18 months of the Buhari-led regime.

According to him, the recovered foreign loots have since been disbursed into key infrastructure projects nationwide.

They include the Second Niger Bridge, Abuja-Kano Road and the Lagos-Ibadan expressway.

The AGF who noted that the Justice Ministry has supported the Federal Government in various infrastructure funding agreements, lamented that the country currently grapples with a N329bn funding gap.

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.