Follow the links to read the stories and analyses on YNaija: Recovered loots not enough to stop foreign borrowings – FG Robert Mugabe refuses to resign after talks with military Patience Jonathan begs court to release her $5.8m and N3.5bn
The Federal Government on Thursday said the recovered loots from corrupt individuals were not enough to stop the country from borrowing. Senior Special Adviser on Media and Publicity to the Vice President, Laolu Akande said this while speaking at the Fourth Presidential Economic Communications Workshop. He said, “In the last two budgets, 2016 and 2017,... Read More
The Attorney General of the Federation and Minister of Justice, Abubakar Malami on Thursday revealed that the Federal Government has recovered N15 billion and $10.5 million. Malami disclosed this on Thursday in Abuja when the Senate Committee on Judiciary, Human Rights and Legal Matters visited the ministry on its oversight function. “Let me put it... Read More
The Federal Government says it plans to use N250 billion out of funds recovered from corrupt officials to finance the 2017 budget. Ben Akabueze, director-general of the National Budget Office, disclosed this while fielding questions from reporters at the presidential villa in Abuja, on Monday. Akabueze said N72 billion of the money had already been... Read More
The Senate on Thursday said the Economic and Financial Crimes Commission (EFCC) will be empowered to keep 2 per cent of recovered loots as soon as it amends the Act which established it. Chairman, Senate Committee on Anti-Corruption, Senator Chukwuka Utazi said this during visits to anti-corruption agencies and offices. Utazi said, “There is a... Read More
The Federal Government is planning to fund the 2017 budget deficit of N2.69 trn from recovered loots, Punch reports. According to the news platform, the proposal was made in the Medium Term Expenditure Framework/Fiscal Strategy Paper, which was submitted to the National Assembly. Recall that the Senate had rejected the document stating that it was... Read More
The Peoples Democratic Party (PDP) on Wednesday raised questions on how loots said to have been recovered by the Buhari-led administration have been used. In a statement by its National Publicity Secretary Prince Dayo Adeyeye, the party called on the National Assembly to reject Buhari’s request to borrowing the sum of $30bn as it was... Read More
The Economic and Financial Crimes Commission (EFCC) on Tuesday said it has surpassed a 12-year record in terms of recovery of looted funds in the last 11 months. This was disclosed by the commission’s chairman, Ibrahim Magu when a team of participants at the National Management Course of the Pakistani National School of Policy visited... Read More
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu has said there should be a review of the laws that allows the agency keep a percentage of recovered loots. Magu was represented by the David Tukura, deputy director of planning, policy and statistics of the commission at the national anti-corruption conference organised by the... Read More
Vice President, Yemi Osinbajo on Monday said recovered loots will be used to fund the budget. Osinbajo spoke at the at the 22nd Nigerian Economic Summit on Monday. He said the Federal Government was expecting some stashed loots with the US and some with the Swiss government. “If you look in the 2016 budget, N350bn is... Read More
Human rights lawyer, Femi Falana, on Saturday asked the Federal Government to stop keeping the recovered loots, stating that it can be used to solve some of the country’s problems. Falana said this in an interview with Punch in Abuja while reacting to comments by the Minister of Information and Culture, Lai Mohammed who revealed... Read More
The Economic and Financial Crimes Commission (EFCC) says the sum of N1,956,007,975.81 has accrued to the federal government as interest from funds seized by a former Inspector General of Police, Tafa Balogun, and others. The Nation reports that an EFCC document also showed that properties seized from the founder of the defunct Intercontinental Bank, Erastus Akingbola, former Edo... Read More
The Economic and Financial Crimes Commission, EFCC has given a thorough breakdown on how recovered looted funds were spent. In a publication published on Friday entitled “What EFCC did with recovered loot”, the Commission said it is putting the records straight to answer questions posed by many Nigerians on its activities. It also addressed allegations... Read More
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