The Federal Government has finally released the interim report on funds and assets recovered from individuals who looted the nation’s treasury.
According to a statement from the office of the Minister of
Information and Culture, Alhaji Lai Mohammed, the total cash recoveries
comes to the sum of N78,325,354,631.82; $185,119,584.61, 3,508,355.46 Pounds Sterling, and 11, 250 Euros, from 29 May 2015 to 25 May 2016.
This comes after the Federal Government failed to publish the list of
individuals and the amount stolen on May 29, as earlier promised.
Full text here:
PRESS RELEASE
LOOTING: FG RELEASES INTERIM REPORT ON FINANCIAL, ASSETS RECOVERIES
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.
In a statement in Lagos on Saturday, the 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.
The following is the breakdown of the recovered cash and assets:
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
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