Nigeria Releases Interim Report On Assets Recovered From Looters

A Statement has been released by the Federal Government of Nigeria on the recovered loot so far.


FULL STATEMENT

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

INTERIM REPORT ON FINANCIAL AND ASSET RECOVERIES MADE BY THE FEDERAL GOVERNMENT OF NIGERIA FROM 29 MAY 2015 TO 25 MAY 2016

Cash Recoveries

      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

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

                                           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

4th June 2016