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Home Politics

BREAKING: FG releases interim report on recovered loot

Patrick Akpu by Patrick Akpu
June 4, 2016
in Politics
Reading Time: 2 mins read
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BREAKING: FG releases interim report on recovered loot
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The Federal Government has released an interim report of recovered loot. The report shows that the government recovered assets worth N2.034 trillion.

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This was disclosed in a statement issued by Lai Mohammed, minister of information, on Saturday.

The statement said a good part of the recovered assets is awaiting collection, revealing that the current administration has made cash recoveries totaling N78 billion from May 29, 2015, when it came to power, to May 25, 2016.

However, the identities of those who made the refunds were not disclosed.

 

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
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 321000000
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 82 153 4

lootloot 2

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