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FG Generates N1.8b From Sale Of Forfeited Assets – Malami Presents Score Card

THEWILL APP ADS 2

January 12, (THEWILL) – The Federal Government raked in a total N1,823,788.146.86 from sales of forfeited assets, Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), disclosed on Thursday.

He also said $641 million recovered loot from the late military dictator, Gen. Sani Abacha, has been used for social investment and development of critical infrastructure.

According to the AGF, $319 million out of the $641 million was spent on the Lagos-Ibadan Expressway, the Second Niger Bridge and Abuja-Kano Highway.

On terrorism, he said 3,000 cases were profiled, 1,500 prosecuted and 397 convicted.

Malami, who gave the breakdown in a presentation at the PMB Administration Scorecard in Abuja, said the government has defended international cases to avoid liabilities running into billions of US dollars.

“In line with the cardinal principle of the present administration in the fight against corruption, a total sum of N1,823,788.146.86 has been generated from forfeited properties.

“A total sum £6,324.627.66, €5,494,743.71 and $490,000,000 realised from various jurisdictions from 2021 to date.

“Some of the recovered funds are being used on the financing of critical infrastructure. including Lagos-Ibadan Expressway, the Second Niger Bridge and Abuja-Kano Highway”, he said.

Malami said $641 million recovered loot from the late military dictator, Gen. Sani Abacha has been used for social investment and development of critical infrastructure.

He said while $322 million was spent on Social Investment for the poor, $319 million went to infrastructure including Lagos-Ibadan Expressway, the Second Niger Bridge and Abuja-Kano Highway.

Malami also said the Buhari administration has succeeded in addressing mounting judgement debts.

“We have saved the government from huge judgement debt liabilities to the tune of over N142 bilion and over $507 million”, he added.