FG clears air on whereabouts of recovered looted funds

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Magu had announced N739 billion as the amount recovered in the first two years of his stewardship, while Adeosun said records available to the Office of the Accountant-General of the Federation, OAGF, had only N91.4 billion as amount recovered since 2015. She, consequently, requested the EFCC to clarify where the cash recoveries were deposited, with documentary evidence.

But Special Assistant to the President on Justice Reform, Mrs. Juliet Ibekaku, speaking at a press conference in Abuja, said all stolen public funds recovered so far were paid into special asset recovery accounts with the CBN, which in turn transfered such funds into the Federation Account, from where they had been utilised to fund the budget since 2017.

Ibekaku-Nwagwu, who is also the coordinator of Nigeria’s Open Government Partnership, OGP, said: “As many of you may be aware, government has made significant efforts in asset recovery.

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