NIGERIA RELEASES DETAILS OF RECOVERED LOOTED FUNDS, ASSETS

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