The Nigerian government on Saturday announced the recovery over 78.3 billion naira, US$185.1 million, 3.5 million pounds and 11.2 million euros from looted funds between May 29, 2015, and May 25, 2016. (US$1=200 naira).
The revelation is contained in a statement issued in Lagos by the Minister of Information and Culture, Alhaji Lai Mohammed, through his Special Adviser, Mr. Segun Adeyemi.
The minister said that the statement was based on the interim report on the financial and assets recoveries made by the various government agencies.
The Minister also disclosed that recoveries under interim forfeiture (cash and assets) during the period totaled over 126.6 billion Naira, US$ 9.09 billion, 2.5 million pounds and 303,399.17 Euros.
He said that funds awaiting return from foreign jurisdictions totaled over US$ 321.3 million, 6.9 million pounds and 11,826.11 euros.
The minister disclosed that 239 assets, including farmlands, plots of land, uncompleted buildings, completed buildings, vehicles and maritime vessels were recovered during the period.
Funds Awaiting Return From Foreign Jurisdictions
1 Switzerland: US$ 321,000,000.
2 UK: 6,900,000 pounds.
3 UAE: US$ 310,501 and 11826.11 Euros.
4 USA: US$ 6,225.1.
Total = US$ 321,316,726.1; 6,900,000 pounds and 11,826.11 Euros.
Photo credit: Nigeria Online
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