Random Pagan Verse:
It is time to sing in the seat of the wise,
Of what at Urds Well I saw in silence,
saw and thought on.
Long I listened to men
Runes heard spoken, (counsels revealed.)
At Hars hall, In Hars hall:
There I heard this.

Author Topic: N18.1 Billion looted Nigeria funds recovered in 2016  (Read 440 times)

Offline yungcrux (OP)

  • Global Moderator
  • Hero Member
  • *****
  • Date Registered: Sep 2015
  • Posts: 1065
  • Karma: +0/-0
    • View Profile
N18.1 Billion looted Nigeria funds recovered in 2016
« on: January 27, 2017, 10:39:15 AM »


The Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami (SAN), said on Thursday that his ministry recovered N18.1billion of looted public funds in 2016.



The minister, who was silent on the individuals and institutions from who the money was recovered, said efforts were on to recover more this year.

“We have made progress in the recovery of looted funds. Last year, over N15billion and $10.5m were recovered,” Malami said.

The AGF spoke in Abuja while playing host to members of the Senate Committee on Judiciary, Human Rights and Legal Matters, who were in the Federal Ministry of Justice in furtherance of their oversight function.

He said Federal Government’s efforts to effectively prosecute the anti-corruption war and recover more looted funds were being hampered by the legislature’s delay in the passage of relevant bills such as the Proceeds of Crime Act and the need for autonomy for the Nigeria Financial Intelligence Unit (NFIU).

He noted that the absence of these important laws informed why the country was not yet admitted as a member of the Financial Action Task force.

The minister, who gave details of his ministry implementation of last year’s Appropriation Act, said it performed well despite the paucity of funds.

He said of the N3, 921,612,815 allocated to the ministry in last year’s budget, N3, 723,833,877 has so far been released, from which it has expended N3, 672,730,661.16 as at December 31, 2016 on personnel and non-regular allowances.

The Senate Committee’s Chairman, Senator David Umar, assured the minister of the committee willingness to assist the ministry surpass its last year’s performance.

He said works were ongoing on the bills mentioned by the minister.


 

 

Nigeria Single Treasury Acct TSA boost revenue collections as FAAC shares N511bn

Started by mastercode

Replies: 0
Views: 491
Last post August 30, 2015, 04:07:58 PM
by mastercode
Nigeria-South African country?s media confirms legitimacy $9.3M of arms deal

Started by mastercode

Replies: 0
Views: 514
Last post October 07, 2014, 11:34:33 AM
by mastercode
Tony Elumelu launches Empowerment Fund to revitalize Nigeria distressed areas

Started by admin

Replies: 0
Views: 621
Last post October 17, 2014, 01:11:34 PM
by admin
Fuel scarcity - okonjo iweala accused Oil marketers of holding Nigeria to ransom

Started by mastercode

Replies: 0
Views: 714
Last post May 04, 2015, 09:43:56 AM
by mastercode
President Buhari Tells NNPC New Boss - Recover all Stolen Nigeria Oil Money

Started by mastercode

Replies: 0
Views: 331
Last post August 05, 2015, 05:01:21 PM
by mastercode
President Buhari hails British support for repatriation of Nigeria?s stolen fund

Started by mastercode

Replies: 0
Views: 401
Last post October 07, 2015, 08:26:29 PM
by mastercode
Nigeria Finance Minister Adeosun emerges new chairman of ECOWAS Investment Bank

Started by legendguru

Replies: 0
Views: 634
Last post August 23, 2017, 12:36:51 AM
by legendguru
FirstBank sustains support for Nigeria Association of the Blind on White Cane Da

Started by admin

Replies: 0
Views: 390
Last post October 15, 2014, 07:07:30 PM
by admin
ARMS DEAL: Finally, South Africa returns seized $15m to Nigeria

Started by mastercode

Replies: 0
Views: 452
Last post October 25, 2014, 09:41:20 PM
by mastercode
Nigeria's first lady, Patience Jonathan denies asking Governor Amaechi for money

Started by mastercode

Replies: 0
Views: 437
Last post October 26, 2014, 11:12:26 PM
by mastercode