Nigeria Recovers N1.8b From Sale Of Forfeited Assets – Malami

Posted by Nwa Diokpa Latest Headlines, News Across Nigeria Thursday, January 12th, 2023

(AFRICAN EXAMINER) – The Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN) on Thursday, January 12, 2023, disclosed the amount the Federal Government has realised from forfeited assets.

Malami disclosed this during a presentation at the PMB Administration Scorecard in Abuja.

According to Malami, the federal government has received the sum of N1, 823,788.146.86 from forfeited assets.

Malami said: “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.

“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 also disclosed that the $641 million recovered loot from Gen. Sani Abacha has been used for social investment and the development of critical infrastructure.

He pointed out that $319 million out of the $641 million was spent on the Lagos-Ibadan Expressway, the Second Niger Bridge and the Abuja-Kano Highway.

Malami disclosed that the Buhari administration has succeeded in addressing mounting judgment debts.