Federal government recovers N57.9bn and $666m from looters

Federal government recovers N57.9bn and $666m from looters

It was gathered that the federal government has recovered more than N57.9 billion and $666.68 million through the anti-corruption war.

The Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami, revealed that the Ministry of Justice in line with the anti-corruption war, recovered the money.

The minister made this revelation in Abuja, while defending the ministry’s 2017 Appropriation bill before the Senate Committee on Judiciary, Human Rights and Legal Matters.

Malami said: “N50 billion was the fine paid by MTN company while N7 billion and $10 Million US Dollar was recovered from private residence.

Aside some money voluntarily returned, $250 million under interim forfeiture was alleged proceeds of oil bunkering and also $136.676 million awaiting actual remittance and $270 Million was government fund recovered from commercial banks.

He said that the ministry operated through 2016 without capital budget.

He said: “Our budgetary proposal of N18, 528,093,480.00 was not appropriated thereby compelling the Ministry to operate on a zero capital budget”.

In spite of all the odds, he expressed joy for the uncommon achievements recorded by the Ministry as a result of the recoveries made which culminated to increased revenue of the Federal government.

“I am happy to state however, that we as a Ministry recorded modest achievements in the act of contributing to the revenue generation of the Federal Government notwithstanding the zero capital budgets.”

He said underscored the need for additional funding given the enormous additional responsibilities arising from the passage of the Administration of Criminal Justice Act (ACJA) 2015.

In his response to Senator Ovie Omo-Agege, representing Delta West, on payment of outstanding judgment debts, the Minister explained that he was conscious and perturbed.

“Efforts are on-going to offset the outstanding and probably abate future debts.’’

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