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Nigeria recovers N3.2 billion in 14 months from foreign loot

From March 2021 to May 2022, the federal government recovered over N3.2 billion (£6,324,627.66) in stolen funds from various jurisdictions around the world.

In the first 18 months of the Buhari-led regime, it generated a total of N1.82 billion from the sale of bid forms and the actual sale of forfeited properties.

Abubakar Malami, the Attorney-General of the Federation and Minister of Justice, made the announcement to journalists on Thursday at the 46th State House Briefing organised by the Presidential Communications Team at the Aso Rock Villa in Abuja.

According to him, the recovered foreign loot has since been distributed to key infrastructure projects across the country.

They include the Second Niger Bridge, Abuja-Kano Road and the Lagos-Ibadan expressway.

The AGF who noted that the Justice Ministry has supported the Federal Government in various infrastructure funding agreements, lamented that the country currently grapples with a N329bn funding gap.

Malami also explained that an inter-ministerial committee on the audit and recovery of back years on stamp duty has so far recovered N596,055,479.47.

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