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FG Set To Recover £200m Looted Fund Stashed In UK

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The Muhammadu Buhari-led administration has disclosed that it is planning to recover looted 200 million pounds stashed in the United Kingdom.

Minister of Justice and Attorney-General of the Federation, Abubakar Malami, made this known on Wednesday on the sidelines of the United Nations General Assembly in New York.

According to the minister, the Federal Government is embarking on a massive recovery of assets belonging to the country, adding that it is employing a strategy to recover the looted funds.

Malami explained that the government’s fight against corruption and illicit financial flow in the country is already yielding positive results.

He added that the government is fully committed to its anti-corruption fight and by extension spreading its dragnet to those who are in the custody of laundered or stolen funds.

The minister stated that he would not like to further disclose the strategy the federal government will use in making the recovery,

Malami added that the government is trying to gather international momentum associated with the processes and procedures, in terms of making things easier for countries to recover assets with ease”.

He said: “We are looking at the possibility of recovering further 200m pounds among others but then, that does not mean they are not other associated assets being pursued, in terms of other countries of the world inclusive of Ireland.

“We are pursuing a lot of assets across the globe and then we intend to coordinate further meetings relating to recovery in the United Kingdom which is associated with certain personalities.

Ige Olugbenga is a fine-grained journalist. He loves the smell of a good lead and has a penchant for finding out something nobody else knows. Gbenga is an alumnus of the prestigious Adekunle Ajasin University, Ondo State and The Polytechnic, Ibadan.