All NewsEconomyNews

$1bn looted funds recovered in seven years, says AGF Malami

Cross Udo and Deborah Onyofufeke, Abuja
The Federal Government yesterday said it has recovered $1bn looted funds from the inception of President Muhammadu Buhari’s administration in 2015 to date.

The Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, stated this while briefing State House Correspondents at the end of the weekly Federal Executive Council (FEC), meeting presided over by Buhari at the Council Chamber, Presidential Villa in Abuja.

Malami affirmed that the recovered assets had been deployed to various sectors of the economy including poverty alleviation.

The AGF, while revealing that the Federal Government had recorded only 109 convictions before 2015, said the Buhari administration has convicted over 3,000 offenders and recovered about $1bn to date, just as he expressed the government’s concern over sundry cases of budget padding, describing the development as worrisome.

He noted, however, that necessary measures would be explored to address the menace.


*As FEC Okays’ new anti-corruption strategy document

He announced the Council’s approval of the new Anti-corruption Strategy Document to strengthen the anti-graft fight in the country.

He said, “FEC approved validation extension of the National Anti-Corruption program to 2026. A new policy which resulted from cooperation amongst Justice.”

He noted that the anti-corruption initiatives had helped the government to recover about $1b stolen funds from the public coffers, adding that “the new anti-corruption strategy will strengthen the war against corruption between 2022 to 2026.“

The Minister also expressed the government’s concern over cases of budget padding, describing it as worrisome, and adding that every necessary measure would be explored to address it.

We’ll make withdrawal of huge cash unattractive to promote cashless economy – Emefiele

*FG expresses disappointment over reports of budget padding

Malami, while responding to a question on budget padding, decried the menace allegedly carried out by Ministries, Departments, and Agencies (MDAs).

Specifically, Malami’s position is coming on the heels of several revelations from the ongoing MDAs budget defence at the National Assembly.

Recall that the Minister of Humanitarian Affairs, Disaster Management, and Social Development, Sadiya Farouk had blamed the Minister of Finance, Zainab Ahmed, for adding N206bn to the humanitarian ministry’s budget.

Farouq, who appeared before the Senate Committee on Special Duties on Monday to defend the 2023 budget, claimed that the ministry requested some projects for the North East Development Commission and the National Social Safety Net Project in the 2022 budget, which were not released, but was surprised to see an inflated amount in the 2023 budget of the ministry.

Elisha Abbo (APC Senator representing Adamawa North Senatorial district), had asked the minister about the inflated N206bn in the budget.

The minister said, “Yes, we made mention of the projects for 2022 that were not released, and part of it was for the NEDC.”

Malami, while responding to questions on the revelations alleging budget padding, stated that the Federal Government was studying the details and will do what was necessary to address it.

“Whichever way one looks at it, budget padding is bad, because if you budget N5bn for road and N3bn of that fund is diverted, it means the government has lost that money and it will take a longer period to complete the project. The Government is concerned and will do what is necessary to address the issue.”

Minister of Works and Housing Babatunde Fashola revealed the council’s approval of a budget augmentation of N14bn on the Kano Western bypass, awarded to Dantata and Sawo.

“The road project was raised from N22bn to N36.89bn. The need to include a flyover and more hydronic facilities to drain water, necessitated the augmentation” adding that “this will link the Kano-Maiduguri highway.

He said FEC also approved a note on the Enugu to Port Harcourt road, 56 kilometres, adding that “there were delays on the trailer parks and litigations from communities whose lands were affected by the road project,” Fashola said.

Show More

Related Articles

Leave a Reply

Back to top button

Adblock Detected

Please turn off Adblocker or whitelist this website in your Adblocker to enable us display ads