LAGOS – Nigerian Government on Saturday said it has so far made recoveries in cash and assets from treasury looters in the past administration totalling N126,563,481,095.43 (One hundred and twenty six billion, five hundred and sixty three million).
According to a statement by the Minister of Information, Lai Mohammed, 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).
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 Pounds Sterling (Three million, five hundred and eight thousand).
And 11, 250 Euros (Eleven thousand, two hundred and fifty Euros) from 29 May 2015 to 25 May 2016.
Mr Mohammed said 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 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
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 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
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
2Amount frozen in bank48,159,179,518.907,131,369,498.49605,647.55
3 Value of properties under interim forfeiture 41,534,605,998.00 77,844,600.00 1,875,000.00 190,000.00
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
3 UAE 310501 11826.11
4USA6225.1
Total321,316,726.16,900,00011,826.11
Non Cash Recoveries
Serial Items Quantity
ICPCEFCCONSA
1Farmland22
2Plot of Land4
3 Uncompleted Building1
4 Completed Building 33 145 4
5Vehicles223
6Maritime Vessels5
Total 821534
