Tag: stolen funds

  • Stolen Funds: FG Moves To Recover £200m Stashed In The United States

    Stolen Funds: FG Moves To Recover £200m Stashed In The United States

    The Federal Government has said it would recover 200 million pounds stashed in the United States, as it embarks on a massive recovery of assets belonging to the country.

    This is according to the Attorney-General of the Federation, Abubakar Malami who was speaking on the sidelines of the United Nations General Assembly in New York.

    Speaking on the fight against corruption and illicit financial flow in the country, he said,  “We are looking at the possibility of recovering further 200m pounds among others but then, that does not mean they are not other associated assets being pursued, in terms of other countries of the world inclusive of Ireland.

    “We are pursuing a lot of assets across the globe and then we intend to coordinate further meetings relating to recovery in the United Kingdom which is associated with certain personalities”.

    The AGF said he would not like to further disclose the strategy the federal government will use in making the recovery, but noted that the “government is trying to gather international momentum associated with the processes and procedures, in terms of making things easier for countries to recover assets with ease”.

    He added that the government is fully committed to its anti-corruption campaign and by extension spreading its dragnet to those who are in the custody of laundered or stolen funds.

  • COVID 19: Group urges FG to intensify campaign to recover stolen funds 

    COVID 19: Group urges FG to intensify campaign to recover stolen funds 

    A Civil Society Group, Nigeria Youth for Social Justice  has called on  the Federal Government to carry out further investigations aimed at recovering more of the country’s wealth allegedly stolen by corrupt officials and politicians.
     
    Convener of the group, Mr Felix Attah made the call in an interview with Daybreak on Friday in Abuja.
    Attah noted that in the wake of dwindling revenue due to the outbreak of the Corona Virus, government should explore every avenue to recover stolen funds as a palliative for the loss in oil revenue.
    Making particular reference to the country’s wealth allegedly stolen by the former Head of State, Gen. Sani Abacha, Attah said that he believed there was a lot more stolen funds to be recovered.
    “The over N1.7 trillion of the funds recovered from the former head of state only points to the fact that there is more money which only further investigation can reveal.
    ” I believe that if these funds are recovered and injected into the system, the call by the National Assembly for a downward review of the budget will not arise.”
    He commended the efforts of the President Mohhamadu Buhari-led administration so far with regards to recovery of stolen funds adding that the efforts needed to be intensified.