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Over N3.2bn foreign loot recovered in 14 month

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Over N3.2bn foreign loot recovered in 14 month

From March 2021 to May 2022, the federal government recovered nearly N3.2 billion (£6,324,627.66) in stolen funds from various countries across the world.

This is because in the first 18 months of the Buhari administration, it made a total of N1.82 billion from the sale of bid forms and the actual sale of seized properties.

Abubakar Malami, the Attorney-General of the Federation and Minister of Justice, revealed these to the media on Thursday during the 46th State House Briefing, which was held at the Aso Rock Villa in Abuja and was hosted by the Presidential Communications Team.

He claims that important national infrastructure projects have since received funding from the confiscated foreign cash.

They consist of the Lagos-Ibadan expressway, the Abuja-Kano Road, and the Second Niger Bridge.

The AGF expressed regret that the nation is now struggling with a N329 billion budget imbalance, noting that the Justice Ministry has assisted the Federal Government in a number of infrastructure funding deals.

Malami added that N596,055,479.47 has so far been collected by an inter-ministerial committee on the audit and recovery of back years on stamp duty.

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