FG Gathers N1.8b From Sale Of Forfeited Assets – Malami

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN) on Thursday revealed how much the Federal Government has realised from forfeited assets.

According to Malami, the federal government has gathered the sum of ₦1, 823,788.146.86 from forfeited assets.

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

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

The minister, speaking on terrorism, said 3,000 cases were profiled, 1,500 prosecuted and 397 convicted.

Naija News gathered that Malami stated this in a presentation at the PMB Administration Scorecard in Abuja.

He added that the federal government has defended international cases to avoid liabilities running into billions of US dollars.

Malami said, “In line with the cardinal principle of the present administration in the fight against corruption, a total sum of ₦1, 823,788.146.86 has been generated from forfeited properties.

”A total sum of £6,324.627.66, €5,494,743.71 and $490,000,000 realised from various jurisdictions from 2021 to date.

“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.”

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

He added, “We have saved the government from huge judgment debt liabilities to the tune of over N142 billion and over $507 million.”