By Emmanuel Ukudolo
Nigeria, June 5 , 2016 – The government of Nigeria has released details of money and properties recovered from looters( recovered looted funds) as promised by President Muhammadu Buhari.
The government however failed to disclose the names of people it recovered the loot from.
In a statement, the Minister of Information, Alhaji Lai Muhammed gave various figures in various currencies, making it difficult to aggregate the money in Naira.
According to him, # 204,888,835,727.25 has been recovered in Naira, while a total of $9,275,363,504.76 was recovered in US Dollars. Another sum, £5,992,803.01 was recovered in British Pounds and the remaining €314,649.17 was in Euro.
In addition, a total sum of $321,316,726.1 and £6,900,000 are awaiting transfer from foreign jurisdiction. Also awaiting transfer is the sum of €11,826.11.
See details below.
INTERIM REPORT ON FINANCIAL AND ASSET RECOVERIES MADE BY THE FEDERAL GOVERNMENT OF NIGERIA FROM 29 MAY 2015 TO 25 MAY 2016
Cash Recoveries
Serial Items Naira(#) US Dollar($) GB Pounds(£)Euro(€)
1 EFCC Cash at hand #39,169,911,023.00 $128,494,076.66 £2,355 €11,250
2 Royalty/tax/payment to FGN account in JP Morgan account New York #4,642,958,711.48 $40,727,253.65
3 ONSA Funds Recovery Account in CBN #5,665,305,527.41 $8,000,000.00
4 VAT recovered from companies by ONSA #529,588,293.47
5 EFCC Recovered Funds Account in CBN #19,267,730,359.36 $455,253.80
6 ICPC Revenue Collection Recovery in CBN #869,957,444.89
7 Office of the Attorney General #5,500,000,000 $5,500,000
8 DSS Recoveries #47,707,000.5$1,943,000.5 £3,506,000.46
9 ICPC Cash Asset Recovery #2,632,196,271.71
Total: #78,325,354,631.82; $185,119,584.61; £3,508,355.46; €11,250
Recoveries Under Interim Forfeiture
Serial Items Naira US Dollar GB Pounds Euro
1 Cash in bank under interim forfeiture #8,281,577,243.92 $1,819,866,364.73 £3,800.00 €113,399.17
2 Amount frozen in bank #48,159,179,518.90 $7,131,369,498.49 £605,647.55
3 Value of properties under interim forfeiture #41,534,605,998.00 $77,844,600.00 £1,875,000.00 €190,000.00
4 Value of cars under interim forfeiture #52,500,000.00
5 ONSA Funds under interim forfeiture #27,001,464,125.20 $43,771,433.73
6 Value of Assets Recovered by ONSA #512,000,000.00
7 ONSA Assets under interim forfeiture #260,000,000.00
8 DSS Recoveries Frozen in Banks #658,929,000.00 $226,476.20
9 EFCC Cash in Bank under final forfeiture #103,225,209.41 $17,165,547.00
Total: #126,563,481,095.43 $9,090,243,920.15 £2,484,447.55 €303,399.17
Grand Total: # 204,888,835,727.25 $9,275,363,504.76 £5,992,803.01 €314,649.17
Funds Awaiting Return From Foreign Jurisdictions
Jurisdiction US Dollar GB Pounds Euro
1 Switzerland $321,000 000
2 UK £6900000
3 UAE $310501 €11826.11
4 USA $6225.1
Total $321,316,726.1 £6,900,000 €11,826.11
Non Cash Recoveries
Serial Items Quantity
ICPC EFCC ONSA
1 Farmland 22
2 Plot of Land 4
3 Uncompleted Building 1
4 Completed Building 33 145 4
5 Vehicles 22 3
6 Maritime Vessels 5
Total ICPC: 82 EFCC: 153 ONSA: 4
Segun Adeyemi
SA to Hon Minister of Information and Culture
