Malami: $1bn Looted Funds Recovered Since 2015

•Says recovered funds spent on poverty alleviation 

•FEC approves new anti-corruption strategy document 

•Govt expresses worry over budget padding

Deji Elumoye in Abuja

The federal government yesterday disclosed that over one billion dollars have been recovered as looted funds by the present administration in the last seven and half years.

The Attorney-General and Minister of Justice, Abubakar Malami, who made this known while briefing newsmen at the end of the weekly Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the State House, Abuja, said $1 billion looted funds had so far been recovered by the Muhammadu Buhari-led administration from May, 2015 to date.

According to him, the current administration has multiplied the success rate at which the anti-corruption agencies have been securing convictions, citing the case of the Economic and Financial Crimes Commission (EFCC), which recorded 3,000 convictions in 2022 alone.

Commenting on the issue of recovery looted funds, Malami stated that the funds had been deployed to various sectors of the economy, including poverty alleviation.

He said: “As I stated, in terms of prevention, we have succeeded and recorded tremendous success, to the extent that as at the time we came on board as a government, for example, only 109 convictions were recorded from the inception of major agencies of government that were saddled with the responsibility of the fight against corruption, spanning over a period of more than 10 years as at the time we came.

“But today, we are recording successes in terms of convictions to the extent that a single agency of government, if you take for example, the EFCC, within a year, I’m talking of 2022, we have recorded over 3,000 convictions.

“So if you are looking at corruption from the perspective of conviction, if your yardstick is to determine what success is in terms of convictions have been recorded, the yardstick is that we have succeeded in moving the convictions to the next level from the point of 109 convictions in over 10 years, by previous administrations, to a point of over 3000 convictions within a year by the government of President Muhammadu Buhari.

“Then if you are looking at it from other perspectives, for example, perspectives related to the recovery of the looted assets, the government of President Muhammadu Buhari has succeeded in recovering around $1 billion from its inception to date.

“You will recall, with precision, that in 2017, over 300 million was indeed recovered from Switzerland, which monies were eventually deployed in the reduction of poverty, in line with the commitment of President Muhammadu Buhari, which in effect gave rise to what we had as NPower, Trader Money, among other multiple programme that were put in place by the government of President Muhammadu Buhari,” he said.

Speaking on the approval of FEC for the National Anti-corruption Strategy Document, Malami explained the same document had been adopted for the period 2017-2022 and had made the fight against corruption really successful, hence the decision of FEC to allow it to run the 2022-2026.

His words: “Considering that the 2017-2022 anti-corruption strategy put in place is lapsing, the need arises for enhanced strategies and that is what gave rise to the need among the justice sector family to come together, review what has been done, and then see what improvement needs to be put in place for the purpose of sustenance and indeed enhancing the fight against corruption.

“So today, the Office of the Attorney-General of the Federation presented a Council memo, seeking approval of the Council for the validation, adoption and the extension of the National Anti-corruption Strategy document from 2022 to 2026.

“I’m happy to report that the memo was taken, deliberated upon and eventually approved by the Council, the implication of which is that we now have in place a new anti-corruption strategy policy document, which is a product of collaboration, consensus among the justice sector and law enforcement agencies.”

Malami also expressed government’s concern over cases of budget padding, which he described as worrisome, noting that every necessary measure would be explored to address it.

The minister while responding to question on budget padding, expressed disappointments with Ministries, Departments and Agencies (MDAs) that are involved in it.

The Minister of Humanitarian Affairs, Disaster Management, and Social Development, Sadiya Umar Farouq, had blamed the Minister of Finance, Zainab Ahmed, for adding N206 billion to the humanitarian ministry’s budget.

While appearing before the Senate Committee on Special Duties on Monday, to defend the 2023 budget, Farouq had claimed that the ministry requested some projects for the North East Development Commission and the National Social Safety Net Project in the 2022 budget, which were not released, but was surprised to see an inflated amount in the 2023 budget of the ministry.

Reacting to the issue, the AGF said: “Whichever way one looks at it, budget padding is bad, because if you budget N5 billion for road and N3 billion of that fund is diverted, it means government has lost that money and it will take a longer period to complete the project.

“The government is concerned and will do what is necessary to address the issue.”

Also briefing, Minister of Works and Housing Babatunde Fashola revealed that FEC approved a budget augmentation of N14 billion for the Kano Western bypass, awarded to Dantata and Sawo.

The road project was raised from N22 billion to 36.89 billion.

“The need to include a flyover and more hydronic facilities to drain water, necessitated the augmentation” adding that “this will link the Kano Maiduguri high way.

He said the contract was inherited from previous administrations but the Muhammadu Buhari administration was determined to complete it.

According to him: “The Ministry of Works and Housing presented a council memo to get approval for the augmentation of the contract price for the completion of the Kano Western bye-pass which we inherited. The project had essentially not been funded in previous budget years.

“We are now executing it by the Sukuk Bond. Council considered and approved the augmentation which was for N14.095 billion. Some of the items covered by the augmentation include the old amount for Value Added Tax (VAT), which was increased from 5-7.5 percent.

“Others are the need to construct a flyover at Dawano International Market interchange and also the need to construct more hydraulic facilities to help drain water especially in the parts of the road that pass through the city centres and towns and the council approved this”.

The Minister added that when completed, the road would link the Kano-Maiduguri highway which is almost completed.

Fashola also said the Ministry sought and got Council’s approval to use the funds approved for the construction of a trailer park along the Enugu-Port Harcourt highway, to complete the main carriage way.