Buhari’s Administration Properly Utilized Looted Fund – Malami

Buhari’s Administration Properly Utilized Looted Fund – Malami

The Honourable Attorney-General of the Federation and Minister of Justice, Abubakar Malami SAN has said that the looted funds recovered by President Muhammadu Buhari’s administration were judiciously utilized for high-impact public oriented project.

Malami made this known in a Press statement issued and signed by his Special Assistant on Media and Public Relations, Dr. Umar Jibrilu Gwandu, on Tuesday 3rd March, 2020.

According to the Minister, the major amount recovered since assumption of the present government which was $322 million, as recovered from the Swiss Government were transparently and judiciously utilized for the projects specified in the agreement by the parties involved; the Swiss Government and the Federal Government of Nigeria.

He explained that the application of the fund was monitored by World Bank and Civil Society Organisations (CSOs) in the areas of Social Investment Programmes including N-power, School-feeding and associated interventions overseen from the Office of the Vice President, Prof. Yemi Osinbajo.

“The money was judiciously applied for the purpose for which it was meant for and none of the parties; neither the Swiss government, nor the World Bank, much less of the Civil Society Organisation raised any question regarding reputation relating to the application of the funds,” he said.

The Minister disclosed that the looted funds expected from the United States
of America and the Island of Jersey are yet to be received by the
government, “so the issue regarding embezzlement or misappropriation
of same is an imaginary illusion which does not even arise as the
money has not yet been repatriated to Nigeria”.

Malami maintained that the role of the Peoples’ Democratic Party (PDP) relating to transparency and accountability over the looted assets can best be appreciated with particular reference to the 2003 agreement brokered by the PDP government and the question of liability and accountability raised by Falana can best be answered by the implications of the 2003 agreement.

He said looted monies recovered before 2015 were substantially
 recovered by past governments that should be made to account on the application or otherwise of the funds.

Ogundoro Modupe

Deputy Director