Anti-corruption: FG recovers N200bn in final forfeiture —Malami

November 8, 2019
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The Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), has said the Federal Government has, so far recovered in excess of N200 billion in final forfeiture in its anti-corruption fight.

Malami disclosed this in Abuja on Thursday at a special town hall meeting on ‘Fight Against Corruption,’ organised by the Ministry of Information and Culture.

The minister, who was represented by Mr Abiodun Ayodeji, Special Adviser to the President on Financial Crimes, said there were other recoveries still in the interim.

“We have recovered in excess of N200 billion in final forfeiture and there are recoveries still in the interim that cannot be dealt with.

“The money we have earned for the Federal Government in the process of the anti-corruption war is in the excess of N200 billion.

“Notable among the recoveries is the $325 million Abacha loot and 75 million dollar connected to the Malabu oil transaction,” he said.

The minister said that the recovery was significant considering the effects of corruption on the country.

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“Nigeria has earned in excess of $650 billion from oil in revenue but bulk of the funds is either stolen or mismanaged.

“NEITI recently said that in the last 10 years, $40 billion was stolen due to oil theft alone.

“These have left us with infrastructure that is grossly inadequate to support modern economy.

“It is, therefore, so real that if we do not kill corruption, the menace will kill us, hence the administration is focusing on war against corruption,” he said.

Malami said the government was able to achieve the feat following the implementation of the Nigeria Anti-Corruption Strategy set up by the ministry and endorsed by the Federal Executive Council in July 2017.

Speaking in the same vein, chairman of Code of Conduct Bureau, Muhammed Isah, said the bureau, from November 2018 till date, had investigated 160 cases of corruption to the tune of N40 billion.

He said from the 160 investigated cases, 75 had been filed before the Code of Conduct tribunal for trial.

Isah also noted that from the 14 code of conduct for public officers, the most talked about is Asset Declaration.

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