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Amaechi reveals how much loot has been recovered

06 September 2016, 15:06

Abuja - Transport minister Rotimi Amaechi has revealed that the President Muhammadu Buhari-led administration has so far recovered N3.4 trillion in cash and assets from those who looted the country’s treasury in the last administration, Vanguard reports.

Amaechi also said that the federal government discovered N115 billion looted cash and assets in the United States, United Arab Emirates and United Kingdom.

The Minister made those disclosures in the United Kingdom while speaking at the 34th Cambridge University International Symposium on Economic Crime on Monday.

"Our president has stopped at nothing to demonstrate that whosoever is caught in corruption related crimes will not be spared. In his days as military Head of State and through other positions he has held in public life, he has upheld a life of integrity. He is a typical example of how a leader can inspire committed followership through the force of example,” Amaechi stated.

“As someone who has been in active politics for more than 30 years, I have learnt that many well-intended reforms are possible only if the leader can offer the requisite leadership and muster the right political will.

Amaechi continued, “In my country, since our President, Muhammadu Buhari, was elected, he did not leave anyone in doubt that the fight against corruption will not only be taken seriously, but will form a cardinal plank of his policy direction.”

However, the figure declared by Amaechi is different from that of Lai Mohammed, the minister of information, who recently revealed that the federal government recovered about N78 billion, and $3 million from alleged looters since the inauguration of Muhammadu Buhari according to Naij.

Mohammed had stated that these funds cannot rescue Nigeria’s economy as they are a far cry from what the country needs to revive the economy.

The Minister of Budget and National Planning, Udoma Udo Udoma had disclosed that recovered looted funds would be used in funding part of the 2017 budget according to News24.

He noted that N2.1trillion had so far been expended out of the N6.06trillion budgeted for 2016.

He, however, added that only N253billion out of the N1.8trillion earmarked for capital projects had been spent so far

- News 24


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