Federal Government Releases List Of Recovered Loot

Nigeria’s Federal Government has finally made good on its promise to disclose the assets it has so far recovered.

The President Buhari administration came to power on the back of promises to stamp out corruption. His administration has claimed severally that it has recovered billions from corrupt persons.

An initial promise to disclose the names of looters on democracy day was later broken.

The Federal Ministry of Information has released the details of the amounts.

The sums of N78,325,354,631.82, $185,119,584.61, £3,508,355.46 and €11, 250 between May 29, 2015 and May 25, 2016.

The Federal Government also expects to receive $321,316,726.1, £6,900,000 and €11,826.11.

SerialItemsNairaUS DollarGB PoundsEuro
1EFCC Cash at hand39,169,911,023.00128,494,076.662,35511,250
2Royalty/tax/payment to FGN account in JP Morgan account New York4,642,958,711.4840,727,253.65
3ONSA Funds Recovery Account in CBN5,665,305,527.418,000,000.00
4VAT recovered from companies by ONSA529,588,293.47
5EFCC Recovered Funds Account in CBN19,267,730,359.36455,253.80
6ICPC Revenue Collection Recovery in CBN869,957,444.89
7Office of the Attorney General5,500,000,0005,500,000
8DSS Recoveries47,707,000.51,943,000.53,506,000.46
9ICPC Cash Asset Recovery2,632,196,271.71
Total78,325,354,631.82185,119,584.613,508,355.4611,250

Recoveries Under Interim Forfeiture

SerialItemsNairaUS DollarGB PoundsEuro
1Cash in bank under interim forfeiture8,281,577,243.921,819,866,364.733,800.00113,399.17
2Amount frozen in bank48,159,179,518.907,131,369,498.49605,647.55
3Value of properties under interim forfeiture41,534,605,998.0077,844,600.001,875,000.00190,000.00
4Value of cars under interim forfeiture52,500,000.00
5ONSA Funds under interim forfeiture27,001,464,125.2043,771,433.73
6Value of Assets Recovered by ONSA512,000,000.00
7ONSA Assets under interim forfeiture260,000,000.00
8DSS Recoveries Frozen in Banks658,929,000.00226,476.20
9EFCC Cash in Bank under final forfeiture103,225,209.4117,165,547.00
Total126,563,481,095.439,090,243,920.152,484,447.55303,399.17
Grand Total204,888,835,727.259,275,363,504.765,992,803.01314,649.17

Funds Awaiting Return From Foreign Jurisdictions

JurisdictionUS DollarGB PoundsEuro
1Switzerland321000000
2UK6900000
3UAE31050111826.11
4USA6225.1
Total321,316,726.16,900,00011,826.11

Non Cash Recoveries      

SerialItems Quantity
  ICPCEFCCONSA
1Farmland22  
2Plot of Land4  
3Uncompleted Building1  
4Completed Building331454
5Vehicles223 
6Maritime Vessels 5 
Total821534

1 COMMENT

  1. One would ask..wha is those funds recovered doing in Efcc account. Why dont the recovered fund be paid to the federation account or a special account. Wedont want the fund miaapropriated from there again

LEAVE A REPLY

Please enter your comment!
Please enter your name here