€6.3m looted money recovered, N1.8bn realized from seized assets – Malami
Abubakar Malami, the attorney-general of the federation and minister of justice, has said the federal government recovered €6,324,627 in looted funds from foreign countries, between March 2021 and May 2022.
In addition, he said N1,823,788,146 was realised from the sale of forfeited properties in 18 months.
The minister spoke at news briefing in Abuja.
“Within the period in consideration of 18 months, a total sum of N1,823,788,146 has been generated so far from sale of bid forms and actual sale of forfeited properties.
“Again, stamp duty recoveries arising from the legislation, the office of the attorney-general of the federation is saddled with the responsibility of effecting recovery. Among the recoveries that are sanctioned for the office of the attorney-general is stamp duty.
“[There is] an inter-ministerial committee on audit and recovery of back years of stamp duty because there has been a backlog and there is a need for recovery of such backlog from agencies, corporate bodies among others.
“I’m happy to state that the inter-ministerial committee engaged various recovery agents to recover and generate additional revenue for the government.
“This exercise also provided job opportunities for over 1,000 professionals, including lawyers, accountants, auditors and financial consultants. The ongoing exercise has so far led to the recovery of the sum of N596,055,569.
“In complying with the presidential mandate and foreign judicial processes, the ministry has recovered a total sum of €6,324,627 from various jurisdictions.
“And some of the recovered funds are equally being utilised in the financing of critical infrastructure, including Abuja-Kano expressway, Second Niger bridge and Lagos-Ibadan expressway.”
