Buhari: My Govt Recovered N152bn Looted Funds in 2021

*Other recoveries include $386m, £1.1m, €157,000

Kingsley Nwezeh in Abuja

President Muhammadu Buhari has said that his administration’s anti-corruption drive led to the recovery of  N152 billion between January and December, 2021.Other recoveries include $386 million, 1.1 million pounds and 1.7 million Saudi Riyals. In an interview with Bloomberg, President Buhari said such recoveries was not possible with previous administration because there was palpable fear that the looted funds  may be relooted.”Starting with our whistleblowing policy enacted in my first year in office, hundreds of millions in stolen funds have been returned. Working with our international partners, hundreds of millions of various currencies have been returned from abroad – primarily from the UK, US, and Switzerland – and used as social and welfare funds distributed directly to the poorest during the covid pandemic and the provision of long-delayed infrastructure – roads, bridges, rail, and power.”As an illustration, monetary recoveries (January-December) 2021 show that more N152 billion has been recovered. Dollar recoveries for the year amount to over USD 386 million; GBP, more than 1.1 million; Euro, about 157,000; Saudi Riyals about 1.7 million, some more in digital and other currencies”, he said.”Those partners refused to return these monies held for decades to previous Nigerian administrations in the certainty they would simply be re-stolen. They changed their approach with us because they knew my administration could be trusted”, he said.