insistence, the Federal
Government finally revealed
that an amount totalling N126,
563,481,095.43 in forfieture and
other assets have been recovered
from some alleged looters of the
treasury. Cash recovered stand
at N78bn.
The recovered loots, according
to the Minister of Information
and National Orientation, Mr.
Lai Mohammed, were mostly
from individuals and agents of
government of the immediate
past administration.
Mr. Mohammed in a report
tagged, ‘Interim Report on Cash,
Assets Recovered from Treasury
Looters’, the recoveries were
made between May 29, 2015 and
May 25, 2016.
The cash recoveries made so
far in local currency are: N78,
325,354,631.82 (Seventy eight
billion, three hundred and
twenty-five million naira).
The foreign currencies are:
$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 (Three million, five
hundred and eight thousand and
€11, 250 (Eleven thousand, two
hundred and fifty euro) from 29
May 2015 to 25 May 2016.
The Minister said that this
is contained under interim
forfeiture (cash and assets) report.
According to the statement,
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 (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.
Nigerian Pilot Sunday recalls
that claims by the federal
government that some looters
of the treasury had returned
cash and other assets had been
disputed, especially following
President Muhammadu Buhari’s
refusal to name those that had
returned funds.
Only last week, the President
had said that his government
sought legal advice on the matter
of disclosure of the names of
alleged repented looters, asserting
that the legal technicalities
involved demanded that the
government exercised caution
in making public names of some
looters and assets retrieved from
them as well as cash, adding that
the federal government would
disclose them at the appropriate
We also recall that certain
officials currently assisting the
Economic and Financial Crime
Commission, EFCC, were
said to have made entreaties
to government in respect of
returning some looted funds.
The family of one such officials
publicly decried the federal
government’s refusal to accept
their offer to return the alleged N400 million looted by their
son, even as close allies of the
President had been persistently
rumoured to have refunded
N100 million in the early days of
the administration.

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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

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