FG Releases Interim Report of Recovered Loot

The Federal Government has released an interim report of recoveries of looted assets and monies, whose announcement was initially fixed for Democracy Day but passed by President Muhammadu Buhari, who shifted it to the Information Minister.

Cash recoveries made from 29 May 2015 to 25 May 2016  total N78,325,354,631.82; $185,119,584.61; #3,508,355.46 Pounds Sterling and E11, 250 Euros, according to a press statement issued on Saturday by Segun Adeyemi, Special Assistant to tge Minister of Information and Culture.

In the statement released in Lagos, the 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; $9,090,243,920.15; 2,484,447.55 Pounds Sterling and 303,399.17 Euros.

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.

The following is the breakdown of the recovered cash and assets:

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

Cash Recoveries