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JUST IN: FG reveals amount from sales of forfeited assets

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 JUST IN FG reveals amount from sales of forfeited assets
Abubakar Malami

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN) has revealed the total amount gotten from sales of forfeited properties.

He said that the Federal Government has realised N1, 823,788.146.86 from forfeited assets.
He also said $641million recovered loot from the late military dictator, Gen. Sani Abacha has been used for social investment and development of critical infrastructure.

He said $319million out of the $641million was spent on the Lagos-Ibadan Expressway, the Second Niger Bridge and Abuja-Kano Highway.

On terrorism, he said 3,000 cases were profiled, 1,500 prosecuted and 397 convicted.

Malami, who gave the breakdown in a presentation at the PMB Administration Scorecard in Abuja, said the government has defended international cases to avoid liabilities running into billions of US dollars.

READ ALSO: Forfeited properties: EFCC disqualifies N13bn bid for Banana Island flats

He said: “In line with the cardinal principle of the present administration in the fight against corruption, a total sum of N1, 823,788.146.86 has been generated from forfeited properties.

”A total sum £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.”

He said $641million recovered loot from the late military dictator, Gen. Sani Abacha has been used for social investment and development of critical infrastructure.

He said while $322million was spent on Social Investment for the poor, $319million went to infrastructure including Lagos-Ibadan Expressway, the Second Niger Bridge and Abuja-Kano Highway.

Malami said Buhari administration has suceeded in addressing mounting judgment debts.

“We have saved the government from huge judgment debt liabilities to the tune of over N142bilion and over $507million,” he added

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