President Muhammadu Buhari has recovered over N1trillion stolen funds from corrupt Nigerians since assumption of office in 2015.
An All Progressives Congress (APC) voluntary think-tank group, the APC Legacy Awareness and Campaign, which made this claim
has equally expressed confidence that the president was laying solid and sustainable foundation for Nigeria’s greatness.
The group made this claim on Thursday in a statement signed by the quartets of Barr Ismail Ahmed, Lanre Issa-Onilu, Tolu Ogunlesi, and Salihu Moh Lukman, stressed that since Buhari assumed office in 2015, close to a trillion Naira worth of stolen funds and assets has been recovered.
The statement noted: “We recognize that under Buhari’s watch the federal government has prioritized the recovery and return of stolen assets belonging to the Nigerian people.”
“One of the first things the President did upon assumption of office was the establishment of the Presidential Advisory Committee Against Corruption (PACAC), which has helped expand technical capacity within Nigeria’s anti-corruption agencies, as well as within the Judiciary.
“One outcome of this is the significant increase in the use of Non-Conviction Based Asset Forfeiture Mechanisms (Interim and Final Forfeitures) by the country’s anti-corruption agencies.
“High-profile recoveries include the following: $322 million Abacha loot from the government of Switzerland; $311 million Abacha Loot from the Bailiwick of Jersey; $100 million recovered by the EFCC for the Nigerian Ports Authority (NPA), from a company operating in the oil and gas sector; 4.2 million pounds sterling of Ibori Loot from the UK Government; N53 billion for the Federal Mortgage Bank of Nigeria (FMBN), from a real estate developer; $43 million security funds from an apartment in Ikoyi; and N189 billion in ‘restrained’ funds from inflated personnel budgets, following ICPC’s scrutiny of practices, systems and procedures of MDAs’ personnel cost from 2019 to 2020.
“Billions of Naira in pension funds have been recovered from local and foreign Insurance Companies who have been holding on to assets of the Pension Transitional Arrangement Directorate (PTAD).
“ICPC’s audit of Constituency Projects covering 2015 to 2018 helped recover N2 billion of diverted funds and assets, and also forced about 300 contractors to return to site to complete abandoned or poorly-executed projects. In August 2021 the ICPC commenced the third Phase of this Constituency and Executive Projects Tracking Exercise.
“In 2019 alone, ICPC also recovered 32 billion Naira worth of Land, Buildings and Vehicles. In 2021, the EFCC and ICPC have continued their recovery efforts, with billions of Naira in cash assets already recovered, either through Interim or Final Forfeiture Orders,” the statement read.