AGF Malami Officially Announces Recovery of $1Bn Loot Since 2015

AGF Malami Officially Announces Recovery of $1Bn Loot Since 2015

  • The federal government has recovered the sum of $1 billion in looted funds since 2015
  • Abubakar Malami made this announcement on Wednesday during an interactive session with state house correspondents
  • He revealed the federal government has also unveiled a strategy document to help clamp down on corruption

Aso Rock - Nigeria has recovered a total sum of $1 billion in loot since 2015, the minister of justice and attorney-general of the federation, Abubakar Malami, has revealed.

He made this known in Abuja on Wednesday, November 23, at the Aso Villa while briefing state house correspondents at the Federal Executive Council (FEC).

FEC, Malami
President Muhammadu Buhari presided over the Federal Executive Council meeting at the state house. Photo: Aso Rock Villa
Source: Facebook

As reported by The Nation online, Malami revealed that FEC had approved a new strategy document to further enhance the fight against corruption in Nigeria.

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When asked what the loot would be used for, Malami replied that the looted funds would be distributed across various sectors to help enable reforms.

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Malami speaks on issue of budget padding

He revealed that the federal government will not shy away from the issue of budget padding and that preventive measures are ongoing to clamp down on this trend. gathered that Sadiya Umar Farouq who heads the ministry of humanitarian affairs blamed the ministry of finance, budget and national planning for adding N206 billion to the budget of the her ministry (humanitarian affairs).

While defending her 2023 budget, Farouq, during her appearance before the senate committee on special duties on Monday, November 21, stated that her ministry requested a series of projects.

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These projects included the northeast development commission and the national social safety net project stipulated in the 2022 budget, which was not released but was surprised to see an excessive amount in the 2023 budget of the ministry.

In another development, the minister of defense, Bashir Magashi, disclosed to the red chamber that the minister of finance, budget and national planning had induced the sum of N11 billion into his ministry’s 2023 budget.

Asset recovery: Why some people are after AGF Abubakar Malami, group opens up

Meanwhile, the Attorney General of the Federation, Abubakar Malami, has gotten the support of a coalition for Human Rights and Rule of Law over the recent FG's asset recovery drive.

The coalition said the Attorney General of the Federation has the responsibility to ensure the successful implementation of the recovery processes.

According to the organisation the campaign against the move by the AGF is orchestrated by some enemies of the nation.


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