FG releases list of recovered funds and assets, withholds names of looters

The Minister of Information, Lai Mohammed today Saturday June 4th partially released list of funds recovered from corrupt Individuals, Entertainers, former government officials as part of the government’s war against corruption. Although names of the people the assets were recovered from were left out of the list. Read the official statement detailed below… The Federal Government made cash recoveries totaling:

lai mohammed recovered loots

N78,325,354,631.82 (Seventy eight billion, three hundred and twenty-five million, three hundred and fifty-four thousand, six hundred and thirty one Naira and eighty two kobo);

$185,119,584.61 (One hundred and eight five million, one hundred and nineteen thousand, five hundred and eighty four US dollars, sixty one cents);

3,508,355.46 Pounds Sterling (Three million, five hundred and eight thousand, three hundred and fifty-five Pounds and 46 Pence) and 11, 250 Euros (Eleven thousand, two hundred and fifty Euros) from 29 May 2015 to 25 May 2016.

Minister of Information and Culture, Alhaji Lai Mohammed, also disclosed that Recoveries Under Interim Forfeiture (cash and assets) during the period totaled

N126,563,481,095.43 (One hundred and twenty six billion, five hundred and sixty three million, four hundred and eighty one thousand, and ninety five Naira, forty three Kobo;

$9,090,243,920.15 (Nine billion, ninety million, two hundred and forty three thousand, nine hundred and twenty Dollars, fifteen cents; 2,484,447.55 Pounds Sterling (Two million, four hundred and eighty four thousand, four hundred and forty seven Pounds, fifty five Pence) and

303,399.17 Euros (Three hundred and three thousand, three hundred and ninety-nine Euros, 17 cents)

According to the statement, which is based on the interim report on the financial and assets recoveries made by the various government agencies from 29 May 2015 to 25 May 2016, the Funds Awaiting Return From Foreign Jurisdictions total $321,316,726.1 (Three hundred and twenty one million, three hundred and sixteen thousand, seven hundred and twenty six Dollars, one cent); 6,900,000 Pounds (Six million, nine hundred thousand Pounds) and 11,826.11 Euros (Eleven thousand, eight hundred and twenty six Euros, 11 cents).

It showed that Non-Cash Recoveries (Farmlands, Plots of Land, Uncompleted Buildings, Completed Buildings, Vehicles and Maritime Vessels) during the period total 239.

INTERIM REPORT ON FINANCIAL AND ASSET RECOVERIES MADE BY THE FEDERAL GOVERNMENT OF NIGERIA FROM 29 MAY 2015 TO 25 MAY 2016…

Cash Recoveries

Serial     Items    Naira     US Dollar              GB Pounds          Euro

1              EFCC Cash at hand           39,169,911,023.00            128,494,076.66  2,355     11,250

2              Royalty/tax/payment to FGN account in JP Morgan account New York   4,642,958,711.48               40,727,253.65

3              ONSA Funds Recovery Account in CBN   5,665,305,527.41               8,000,000.00

4              VAT recovered from companies by ONSA             529,588,293.47

5              EFCC Recovered Funds Account in CBN  19,267,730,359.36            455,253.80

6              ICPC Revenue Collection Recovery in CBN            869,957,444.89

7              Office of the Attorney General  5,500,000,000     5,500,000

8              DSS Recoveries 47,707,000.5       1,943,000.5         3,506,000.46

9              ICPC Cash Asset Recovery            2,632,196,271.71

Total      78,325,354,631.82            185,119,584.61  3,508,355.46       11,250Recoveries Under Interim Forfeiture

Serial     Items    Naira     US Dollar              GB Pounds          Euro

1              Cash in bank under interim forfeiture     8,281,577,243.92               1,819,866,364.73               3,800.00               113,399.17

2              Amount frozen in bank 48,159,179,518.90            7,131,369,498.49               605,647.55

3              Value of properties under interim forfeiture       41,534,605,998.00            77,844,600.00     1,875,000.00       190,000.00

4              Value of cars under interim forfeiture    52,500,000.00

5              ONSA Funds under interim forfeiture     27,001,464,125.20            43,771,433.73

6              Value of Assets Recovered by ONSA       512,000,000.00

7              ONSA Assets under interim forfeiture    260,000,000.00

8              DSS Recoveries Frozen in Banks                658,929,000.00  226,476.20

9              EFCC Cash in Bank under final forfeiture                103,225,209.41  17,165,547.00

Total      126,563,481,095.43          9,090,243,920.15               2,484,447.55       303,399.17

Grand Total        204,888,835,727.25          9,275,363,504.76               5,992,803.01       314,649.17Funds Awaiting Return From Foreign Jurisdictions

Jurisdiction         US Dollar              GB Pounds          Euro

1              Switzerland        321000000

2              UK          6900000

3              UAE       310501  11826.11

4              USA       6225.1

Total      321,316,726.1     6,900,000             11,826.11Non Cash Recoveries

Serial     Items                    Quantity

ICPC       EFCC      ONSA

1              Farmland             22

2              Plot of Land        4

3              Uncompleted Building   1

4              Completed Building        33           145         4

5              Vehicles               22           3

6              Maritime Vessels                             5

Total      82           153         4

Segun Adeyemi, SA to Hon Minister of Information and Culture Lagos

4 June 2016

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27 Comments

  1. 3 important things Buhari greatly improved within 1 year in office – Security (Boko Haram), fights corruption, Ogoni Cleanup. This should take years to accomplish but he changed them within 365 days. What an Hero!

  2. All this money recovered and masses are still suffering and increment on fuel, electricity bills , unfavourable policies.

    • Olodo, na so they teach u for school?
      If u collect money or salary, ur life go change? Abi u no go make plans on how to utilize am

    • Olodo, na so they teach u for school?
      If u collect money or salary, ur life go change? Abi u no go make plans on how to utilize am

      Proudly Naija
      God Bless Nigeria

  3. I don taya to hear big big money without seeing them
    Tomorrow Kemi Adeosun will say ”that’s not the actual amount that that was what they ‘planned’ on getting from looters by this year end yadayada yadayadayada”
    *hisses*

  4. Share this money to all citizens in cash..we don’t want ur project infrastructure or long term plans for now …use your budget to do that …share the money to all Nigerians in cash abeg

  5. This is a very welcome and heartwarming development. This is the first time we are hearing this type of very good news from any government in this country under democratic govt. My PMB, I trust u 100% and pls continue with the good work, with the prayers of well meaning Nigerians and Grace of God, u will surely take us all (Nigerians) to the promised land to delight and happiness of all of us, including haters!

  6. Could this have happened under Pdp?.This is a serious minded president who has distanced himself from the megalomaniac style of Obj and Gej.
    Is this not a landmark achievement in twelve months?

  7. Well done PMB Thank you APC truely this is a government of change mathra. We have not seen any yet APC will take Nigeria to their Eldorado very soon Said Baba!!!!!!!!!!!!

  8. I think we have the right to know their names, in case they come back during election so we citizens will not make mistakes voting for the wrong person

  9. This money should be used to reflate our economy right away. Don’t place them in the banks anymore. If anyone of the looters makes a claim and wins in the court we can then give the money back in bits and pieces. Use the money to repair roads, pay teachers and reduce unemployment. God bless PMB

  10. We have heard Billions have been recovered o! Accountability!!!!! If we don’t know the sources of the money, how can we avoid the thieves when they appear for elections again. Some have joined APC since, and are being protected to thief again. After all, na small dem bring so, the real money still dey for inside Azip Water tanks and underground bonkers. Thank you for the collections. But no come change mouth after o! Because, una matter no dey stay for one place o! Today na one, tomorrow same story go change and una mouth na hi go strong pass person wey come ask question.

  11. Congratulations to this administration for the good work.
    However this is not enough
    This administration needs to name the looters
    Documenting money or assets retuned without a name to the person who returned the assets or money gives room for corruption.
    Transparency is the issue here and it raises so many questions.
    How do we know who returned the money?
    How do we know that the person returned all, none or some?
    How will the person who returned the money know that the amount he returned has been returned or recorded in government coffers?
    This process lacks proper accountability and transparency.
    This administration needs to be up and about to prevent unnecessary insinuations.
    Also, they need to be anti-corruption through transparent dealings and not pro-corruption by dealing otherwise
    Finally the obtained money needs to be spent judiciously on Nigeria,
    All sectors were the government did poorly needs an injection
    God bless Nigeria.

  12. Wonderful and beautiful achievement by APC government lead by PMB, my prayer is almighty Allah will guide U and UR team to make Good used of this money and many Nigerians could see the impart of this money in our life. God bless u and God bless my country Nigeria. Amin!

  13. Congratulations to Mr President and all Nigerians on this epoch making occasion. The figures so far recovered are quite staggering but, what are Nigerians going to see and read when the NNPC and other revenue generating ministries and agencies books opened for probe purposes? I strongly support that the names of the looters should be mentioned
    God bless Nigeria

  14. Congratulations to PMB and his government , the amount declared so far is rather small given the level of noise being made about corruption, this 78 billion naira and 185 million dollars will not make appreciable impact on the economy as at this time. The Government of today should get down to real work with less noise about corruption.

  15. Good development, all I know is that, they will use it judiciously, with non or little misappropriation. Because out of eleven disciples, there we find Judas. PMB can not overseen all the ministries. But with prayer, the Judas of our day will not see the light of the day IJN.

  16. Good development,happy to heard these. Our able President this is wonderful,God will help you to lead us to our promise land.

  17. I appreciate this development I will also like PMB to dig deeper, look around you I mean those in your fold and there about you may still find those wanting bring them to book only then will majority of Nigerians appreciate this fight in full.

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