FG Releases Interim Report On Financial, Assets Recoveries

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Hon Minister of Information and Culture, Alhaji Lai Mohammed

Hon Minister of Information and Culture, Alhaji Lai Mohammed

The Federal Government has finally released the interim report on funds and assets recovered from individuals who looted the nation’s treasury as promised by President Muhammadu Buhari in his Democracy Day broadcast to the nation.

A statement from the office of the Minister Of Information And Culture, Alhaji Lai Mohammed, revealed that the total cash recoveries amounted to N78,325,354,631.82 (Seventy eight billion, three hundred and twenty-five million, three hundred and fifty-four thousand, six hundred and thirty one Naira and eighty two kobo), $185,119,584.61 (One hundred and eight five million, one hundred and nineteen thousand, five hundred and eighty four US dollars, sixty one cents); 3,508,355.46 Pounds Sterling (Three million, five hundred and eight thousand, three hundred and fifty-five Pounds and 46 Pence) and 11, 250 Euros (Eleven thousand, two hundred and fifty Euros) from 29 May 2015 to 25 May 2016.

Here is the full statement from the Minister of Information, Alhaji Lai Mohammed.

LOOTING: FG RELEASES INTERIM REPORT ON FINANCIAL, ASSETS RECOVERIES

The Federal Government made cash recoveries totaling N78,325,354,631.82 (Seventy eight billion, three hundred and twenty-five million, three hundred and fifty-four thousand, six hundred and thirty one Naira and eighty two kobo); $185,119,584.61 (One hundred and eight five million, one hundred and nineteen thousand, five hundred and eighty four US dollars, sixty one cents); 3,508,355.46 Pounds Sterling (Three million, five hundred and eight thousand, three hundred and fifty-five Pounds and 46 Pence) and 11, 250 Euros (Eleven thousand, two hundred and fifty Euros) from 29 May 2015 to 25 May 2016.

In a statement in Lagos on Saturday, 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 (One hundred and twenty six billion, five hundred and sixty …Read More

Source:: PM Newspaper