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The Nigerian government through the Minister of Information, Lai Mohammed today Saturday June 4th partially released list of funds recovered from corrupt former government officials as part of the government’s war against corruption. Although names of the people the assets were recovered from were left out of the list. Read the official statement below…
The Federal Government made cash recoveries totaling:
N78,325,354,631.82 (Seventy eight billion, three hundred and twenty-five million, three hundred and fifty-four thousand, six hundred and thirty one Naira and eighty two kobo);
$185,119,584.61 (One hundred and eight five million, one hundred and nineteen thousand, five hundred and eighty four US dollars, sixty one cents);
3,508,355.46 Pounds Sterling (Three million, five hundred and eight thousand, three hundred and fifty-five Pounds and 46 Pence) and 11, 250 Euros (Eleven thousand, two hundred and fifty Euros) from 29 May 2015 to 25 May 2016.
Minister of Information and Culture, Alhaji Lai Mohammed, also disclosed that Recoveries Under Interim Forfeiture (cash and assets) during the period totaled
N126,563,481,095.43 (One hundred and twenty six billion, five hundred and sixty three million, four hundred and eighty one thousand, and ninety five Naira, forty three Kobo;
$9,090,243,920.15 (Nine billion, ninety million, two hundred and forty three thousand, nine hundred and twenty Dollars, fifteen cents; 2,484,447.55 Pounds Sterling (Two million, four hundred and eighty four thousand, four hundred and forty seven Pounds, fifty five Pence) and
303,399.17 Euros (Three hundred and three thousand, three hundred and ninety-nine Euros, 17 cents)
According to the statement, which is based on the interim report on the financial and assets recoveries made by the various government agencies from 29 May 2015 to 25 May 2016, the Funds Awaiting Return From Foreign Jurisdictions total $321,316,726.1 (Three hundred and twenty one million, three hundred and sixteen thousand, seven hundred and twenty six Dollars, one cent); 6,900,000 Pounds (Six million, nine hundred thousand Pounds) and 11,826.11 Euros (Eleven thousand, eight hundred and twenty six Euros, 11 cents).
It showed that Non-Cash Recoveries (Farmlands, Plots of Land, Uncompleted Buildings, Completed Buildings, Vehicles and Maritime Vessels) during the period total 239.
INTERIM REPORT ON FINANCIAL AND ASSET RECOVERIES MADE BY THE FEDERAL GOVERNMENT OF NIGERIA FROM 29 MAY 2015 TO 25 MAY 2016…
Cash Recoveries
| Serial | Items | Naira | US Dollar | GB Pounds | Euro |
| 1 | EFCC Cash at hand | 39,169,911,023.00 | 128,494,076.66 | 2,355 | 11,250 |
| 2 | Royalty/tax/payment to FGN account in JP Morgan account New York | 4,642,958,711.48 | 40,727,253.65 | ||
| 3 | ONSA Funds Recovery Account in CBN | 5,665,305,527.41 | 8,000,000.00 | ||
| 4 | VAT recovered from companies by ONSA | 529,588,293.47 | |||
| 5 | EFCC Recovered Funds Account in CBN | 19,267,730,359.36 | 455,253.80 | ||
| 6 | ICPC Revenue Collection Recovery in CBN | 869,957,444.89 | |||
| 7 | Office of the Attorney General | 5,500,000,000 | 5,500,000 | ||
| 8 | DSS Recoveries | 47,707,000.5 | 1,943,000.5 | 3,506,000.46 | |
| 9 | ICPC Cash Asset Recovery | 2,632,196,271.71 | |||
| Total | 78,325,354,631.82 | 185,119,584.61 | 3,508,355.46 | 11,250 |
Recoveries Under Interim Forfeiture
| Serial | Items | Naira | US Dollar | GB Pounds | Euro |
| 1 | Cash in bank under interim forfeiture | 8,281,577,243.92 | 1,819,866,364.73 | 3,800.00 | 113,399.17 |
| 2 | Amount frozen in bank | 48,159,179,518.90 | 7,131,369,498.49 | 605,647.55 | |
| 3 | Value of properties under interim forfeiture | 41,534,605,998.00 | 77,844,600.00 | 1,875,000.00 | 190,000.00 |
| 4 | Value of cars under interim forfeiture | 52,500,000.00 | |||
| 5 | ONSA Funds under interim forfeiture | 27,001,464,125.20 | 43,771,433.73 | ||
| 6 | Value of Assets Recovered by ONSA | 512,000,000.00 | |||
| 7 | ONSA Assets under interim forfeiture | 260,000,000.00 | |||
| 8 | DSS Recoveries Frozen in Banks | 658,929,000.00 | 226,476.20 | ||
| 9 | EFCC Cash in Bank under final forfeiture | 103,225,209.41 | 17,165,547.00 | ||
| Total | 126,563,481,095.43 | 9,090,243,920.15 | 2,484,447.55 | 303,399.17 | |
| Grand Total | 204,888,835,727.25 | 9,275,363,504.76 | 5,992,803.01 | 314,649.17 |
Funds Awaiting Return From Foreign Jurisdictions
| Jurisdiction | US Dollar | GB Pounds | Euro | |
| 1 | Switzerland | 321000000 | ||
| 2 | UK | 6900000 | ||
| 3 | UAE | 310501 | 11826.11 | |
| 4 | USA | 6225.1 | ||
| Total | 321,316,726.1 | 6,900,000 | 11,826.11 |
Non Cash Recoveries
| Serial | Items | Quantity | ||
| ICPC | EFCC | ONSA | ||
| 1 | Farmland | 22 | ||
| 2 | Plot of Land | 4 | ||
| 3 | Uncompleted Building | 1 | ||
| 4 | Completed Building | 33 | 145 | 4 |
| 5 | Vehicles | 22 | 3 | |
| 6 | Maritime Vessels | 5 | ||
| Total | 82 | 153 | 4 | |
Segun Adeyemi
SA to Hon Minister of Information and Culture
Lagos
4 June 2016