LAC: Over 1trillion funds where recovered by Buhari; APC stated

Ever since the commencement of President Mohammadu Buhari’s Government from year 2015 till date over 1Trillion Naira worth of stolen funds has been recovered.

The APC Legacy Awareness and Campaign (LAC), a voluntary think-tank group of the governing party led by Mr Ismail Ahmed stated that the most recent Abacha and Ibori Loots were transferred to the Nigeria Sovereign Investment Authority (NSIA), for transparent management under the Presidential Infrastructure Development Fund (PIDF).

The High fund looting includes:$322 million Abacha Loot from the Government of Switzerland; $311 million Abacha Loot from the Bailiwick of Jersey; $100 million recovered by the EFCC for the Nigerian Ports Authority (NPA), from a company operating in the oil and gas sector.

 

It includes 4.2 million pounds sterling of Ibori Loot from the UK Government; 53 billion Naira for the Federal Mortgage Bank of Nigeria (FMBN), from a real estate developer; $43 million security funds from an apartment in Ikoyi; and 189 billion Naira in ‘restrained’ funds from inflated personnel budgets, following ICPC’s scrutiny of practices, systems and procedures of MDAs’ personnel cost from 2019 to 2020.

 

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