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Saturday 4 June 2016

Details of looters published - Buhari

President Muhammadu Buhari on Saturday partially fulfilled his promise by publishing Details of looters but the names of the corrupt officials from whom the assets were recovered were however not disclosed.


Details of the recoveries, published by the Federal Ministry of Information, showed that the Nigerian government successfully retrieved total cash amount N78,325,354,631.82, $185,119,584.61, £3,508,355.46 and €11, 250 between May 29, 2015 and May 25, 2016.

Also released were recoveries under interim forfeiture, which were a combination of cash and assets, during the same period: N126,563,481,095.43, $9,090,243,920.15, £2,484,447.55 and €303,399.17.

Anticipated repatriation from foreign countries totaled: $321,316,726.1, £6,900,000 and €11,826.11.
The ministry also announced that 239 non-cash recoveries were made during the one-year period.

The non-cash recoveries are – farmlands, plots of land, uncompleted buildings, completed buildings, vehicles and maritime vessels, the ministry said.
Since May 29, the president had endured intense criticism from the Nigerian public who criticised him for failing to fulfill a promise he made on May 14 in London.
Read full statement below. 

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 totalled N126,563,481,095.43 (One hundred and twenty six billion, five hundred and sixty three million, four hundred and eighty one thousand, and ninety five Naira, forty three Kobo; $9,090,243,920.15 (Nine billion, ninety million, two hundred and forty three thousand, nine hundred and twenty Dollars, fifteen cents; 2,484,447.55 Pounds Sterling (Two million, four hundred and eighty four thousand, four hundred and forty seven Pounds, fifty five Pence) and 303,399.17 Euros (Three hundred and three thousand, three hundred and ninety-nine Euros, 17 cents ).

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
SerialItemsNairaUS DollarGB PoundsEuro
1EFCC Cash at hand39,169,911,023.00128,494,076.662,35511,250
2Royalty/tax/payment to FGN account in JP Morgan account New York4,642,958,711.4840,727,253.65
3ONSA Funds Recovery Account in CBN5,665,305,527.418,000,000.00
4VAT recovered from companies by ONSA529,588,293.47
5EFCC Recovered Funds Account in CBN19,267,730,359.36455,253.80
6ICPC Revenue Collection Recovery in CBN869,957,444.89
7Office of the Attorney General5,500,000,0005,500,000
8DSS Recoveries47,707,000.51,943,000.53,506,000.46
9ICPC Cash Asset Recovery2,632,196,271.71
Total78,325,354,631.82185,119,584.613,508,355.4611,250
Recoveries Under Interim Forfeiture
SerialItemsNairaUS DollarGB PoundsEuro
1Cash in bank under interim forfeiture8,281,577,243.921,819,866,364.733,800.00113,399.17
2Amount frozen in bank48,159,179,518.907,131,369,498.49605,647.55
3Value of properties under interim forfeiture41,534,605,998.0077,844,600.001,875,000.00190,000.00
4Value of cars under interim forfeiture52,500,000.00
5ONSA Funds under interim forfeiture27,001,464,125.2043,771,433.73
6Value of Assets Recovered by ONSA512,000,000.00
7ONSA Assets under interim forfeiture260,000,000.00
8DSS Recoveries Frozen in Banks658,929,000.00226,476.20
9EFCC Cash in Bank under final forfeiture103,225,209.4117,165,547.00
Total126,563,481,095.439,090,243,920.152,484,447.55303,399.17
Grand Total204,888,835,727.259,275,363,504.765,992,803.01314,649.17
Funds Awaiting Return From Foreign Jurisdictions
JurisdictionUS DollarGB PoundsEuro
1Switzerland321000000
2UK6900000
3UAE31050111826.11
4USA6225.1
Total321,316,726.16,900,00011,826.11
Non Cash Recoveries      
SerialItemsQuantity
ICPCEFCCONSA
1Farmland22
2Plot of Land4
3Uncompleted Building1
4Completed Building331454
5Vehicles223
6Maritime Vessels5
Total821534
Segun Adeyemi
SA to Hon Minister of Information and Culture
Lagos
4 June 2016
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