FLASH| FG Releases List of Looters and Assets Recovered

by on June 4, 2016

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 (N350 to a dollar) (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(N500 to GBP) (Three million, five hundred and eight thousand, three hundred and fifty-five Pounds and 46 Pence) and 11, 250 Euros (N400 to a euro) (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 ).

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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.

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The following is the breakdown of the recovered cash and assets: 


Cash Recoveries

Serial Items 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

Serial Items 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
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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      

Serial Items   Quantity
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
4 June 2016

Leave a reply »

  • yusuf
    June 4, 2016 at 10:59 am

    fulfill at last….change


  • edwin utomhin
    June 4, 2016 at 12:37 pm

    Comment…so with all these money recovered things are still high in the market. Tell us how u are going to spend this money for the poor masses to benefit from. We appreciate how u are be able to recover this money so far. But, use it wisely for the purpose and the benefit of the poor citizens of this country.


  • kk
    June 4, 2016 at 6:26 pm

    why not let nigerians know these ‘so called’ looters? Why hide their identities? anti corruption war must be 100% transparent


  • Habu lawan izge
    June 4, 2016 at 9:26 pm

    Comment…who to blame on this embezzlement now is it pmb or gej shame on p.d .pigs


  • Tim
    June 4, 2016 at 10:47 pm

    Great recveries! Now how are we sure this money wl br judiciously used to subsidise for the benefit of the common man and in particular for the benefit of developing the grossly underdeveloped and impoverished Niger Delta. These money all, I mean all came from the Niger Delta. If IYC, INC and other groups in the Niger Delta, a this money wl end up in further development of Lagos, Abuja and the rest end up in so called politicians pockets in the name of fighting corruption. We have also heard about corruption fighters who have become looters of the looted funds. As far as Ngeria is concerned, no one to to TRUST!


  • Joe gomji
    June 4, 2016 at 11:14 pm

    Nigeria is really moving forward. But how are we going to face the economy situation now with the price of fertilized 8k per bag?


  • okoh silas
    June 4, 2016 at 11:30 pm

    No body recoverd any thing all this are propaganda.


  • Mykel
    June 5, 2016 at 6:15 am

    The last time Nigeria receive money from the loot of Abacha from Switzerland, Mrs Okonja Iweala said they used the money to develop local govt which I didn’t see any development in my own local govt. So, I urged this present government to used this money wisely by developing local area’s, I wondered while I was growing up all the local govt street was tared with coal tar. But since the beginning of democracy things is just keep deeping. Fela have said his people are dying in suffering and smiling, the money should not be shared but used it to develop area such as Niger Delta, middle belt, North East and it should be street not road or GRA. the local govt are tired of voting people who can’t deliver to them, God Bless Nigeria


  • emperor
    June 5, 2016 at 7:55 am

    Comment…God willing, Nigeria will rise again


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