#Buhari fails to disclose details of recovered loot - Punch

President Muhammadu Buhari on Sunday dashed the hopes of millions of Nigerians who were waiting to be told how much his administration had so far recovered from individuals and firms accused of looting the nation’s treasury.

Buhari had in an interview in London while attending the anti-corruption summit organised by British Prime Minister, David Cameron, promised to disclose the figure in his Democracy Day address to the nation.

But in his nationwide address to mark his one year in office on Sunday, Buhari failed to disclose the figure as promised.

Rather, the President promised Nigerians that the Ministry of Information and Culture would will be publishing the details which he said would be updated periodically.


He simply said “significant amount of assets” have been recovered.

He promised that when forfeiture formalities are completed, the monies would be put in the nation’s treasury and be spent transparently in fun fin developmental projects.

The President said, “We are also engaged in making recoveries of stolen assets some of which are in different jurisdictions.

“The processes of recovery can be tedious and time consuming, but today I can confirm that thus far: significant amount of assets have been recovered. A considerable portion of these are at different stages of recovery.

“Full details of the status and categories of the assets will now be published by the Ministry of Information and updated periodically.

“When forfeiture formalities are completed these monies will be credited to the treasury and be openly and transparently used in funding developmental projects and the public will be informed.”