…AGF Abubakar Malami also says money recovered from Abacha loot were invested into capital projects
The Attorney-General of the Federation and Minister of Justice, Abubakar Malami said on Tuesday that the Federal Government was expecting the return of $200 million from The Netherlands and Switzerland as portions of funds recovered from the Oil Prospecting License (oPL) 245 scam.
Malami revealed this in Abuja on Tuesday while opening a capacity building workshop and interactive session with Judiciary Correspondents.
He said, “Due to the anti-corruption crusade of the present administration, we facilitated the recovery of $62 billion arrears from oil companies as part of the federal government Production Sharing Agreement (PSA).
“Also recovered within the period is the sum of $311 million from the United States and New Jersey, in the third phase of Abacha loot and another $6.3 million Abacha loot from the Republic of Northern Ireland.”
He assured that the money has been transferred into the treasury of the federal government for the development of capital investments such as Lagos-Ibadan Expressway, Kano-Abuja Expressway and the Second Niger Bridge in connection with the arrangement signed with the foreign allies.
The minister added that the country retrieved N685 million through the help of whistleblowers in the space of one year and N500 million recovered from forfeited vessels, trucks and barges.
He continued that a legal framework introduced by the ministry of justice had aided the raising of stamp duty collection from N22 billion in the previous years to N66 billion within the last six months of the act amendment.
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