All the things we lost: FG releases yet another report on looting recoveries

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#NigeriansAreNotCriminals - Buhari 2

Almost 3 Trillion Naira recovered by President Buhari and his government from looters and over $9 Billion assets frozen. This is how I know that the gods we serve either do not exist or have turned their ears away from us.

If our gods heard our prayers, why have Jehovah and Allah not rid us of these thieves who have robbed, pillaged and raped our lands? Who have turned us into savages who scramble with anger, violence and bloodshed to even get anything done?

Why have Orunmila, Sonpona, Amadioha and Sango not moved on our behalf and cursed them with diseases and terrible deaths?

Why will no good man rise out of the sordid ruins that is Nigeria and make a change? I know for a fact that most of us have the propensity to steal – shoot, even if you didn’t want to, relatives would squirm their way out of the woodwork with pressures and demands that would pressurise you to…keep a little behind for yourself.

We can’t all be completely bad though, surely? Surely there must be a few incorruptible men and women who would, who could steer the country aright? Even now, with all that we have lost, we could still start TODAY and become the giant of Africa once again.

Words fail me and my heart is heavy when it comes to my country, Nigeria. I also fully understand and own the hypocrisy of blogging from a developed nation complete with constant electricity, utilities, infrastructure and a fairly stable petrol price. I understand my words may raise a foul smell to the nostrils of the reader. But yet, I weep.

Make of the press release below what you will. I have neither opinion nor sympathies one way or the other. Nigerian leaders have been recovering stolen loot since before I had teeth in my head but there is no transparency as to what happens to the stolen loot after that. Is it put back in the Federal Reserves? Is a single road better as a result of it? Or a single kWatt of electricity added to the national grid? Sick of it all.


LOOTING: FG RELEASES INTERIM REPORT ON FINANCIAL, ASSETS RECOVERIES

The Federal Government made cash recoveries totalling N78,325,354,631.82 (Seventy eight billion, three hundred and twenty-five million, three hundred and fifty-four thousand, six hundred and thirty one Naira and eighty two kobo); $185,119,584.61 (One hundred and eight five million, one hundred and nineteen thousand, five hundred and eighty four US dollars, sixty one cents); 3,508,355.46 Pounds Sterling (Three million, five hundred and eight thousand, three hundred and fifty-five Pounds and 46 Pence) and 11, 250 Euros (Eleven thousand, two hundred and fifty Euros) from 29 May 2015 to 25 May 2016.

In a statement in Lagos on Saturday, the Minister of Information and Culture, Alhaji Lai Mohammed, also disclosed that Recoveries Under Interim Forfeiture (cash and assets) during the period totalled N126,563,481,095.43 (One hundred and twenty six billion, five hundred and sixty three million, four hundred and eighty one thousand, and ninety five Naira, forty three Kobo; $9,090,243,920.15 (Nine billion, ninety million, two hundred and forty three thousand, nine hundred and twenty Dollars, fifteen cents; 2,484,447.55 Pounds Sterling (Two million, four hundred and eighty four thousand, four hundred and forty seven Pounds, fifty five Pence) and 303,399.17 Euros (Three hundred and three thousand, three hundred and ninety-nine Euros, 17 cents ).

According to the statement, which is based on the interim report on the financial and assets recoveries made by the various government agencies from 29 May 2015 to 25 May 2016, the Funds Awaiting Return From Foreign Jurisdictions total $321,316,726.1 (Three hundred and twenty one million, three hundred and sixteen thousand, seven hundred and twenty six Dollars, one cent); 6,900,000 Pounds (Six million, nine hundred thousand Pounds) and 11,826.11 Euros (Eleven thousand, eight hundred and twenty six Euros, 11 cents).

It showed that Non-Cash Recoveries (Farmlands, Plots of Land, Uncompleted Buildings, Completed Buildings, Vehicles and Maritime Vessels) during the period total 239.

The following is the breakdown of the recovered cash and assets:

INTERIM REPORT ON FINANCIAL AND ASSET RECOVERIES MADE BY THE FEDERAL GOVERNMENT OF NIGERIA FROM 29 MAY 2015 TO 25 MAY 2016
Cash Recoveries

Serial Items Naira US Dollar GB Pounds Euro
1 EFCC Cash at hand 39,169,911,023.00 128,494,076.66 2,355 11,250
2 Royalty/tax/payment to FGN account in JP Morgan account New York 4,642,958,711.48 40,727,253.65
3 ONSA Funds Recovery Account in CBN 5,665,305,527.41 8,000,000.00
4 VAT recovered from companies by ONSA 529,588,293.47
5 EFCC Recovered Funds Account in CBN 19,267,730,359.36 455,253.80
6 ICPC Revenue Collection Recovery in CBN 869,957,444.89
7 Office of the Attorney General 5,500,000,000 5,500,000
8 DSS Recoveries 47,707,000.5 1,943,000.5 3,506,000.46
9 ICPC Cash Asset Recovery 2,632,196,271.71
Total 78,325,354,631.82 185,119,584.61 3,508,355.46 11,250

Recoveries Under Interim Forfeiture

Serial Items Naira US Dollar GB Pounds Euro
1 Cash in bank under interim forfeiture 8,281,577,243.92 1,819,866,364.73 3,800.00 113,399.17
2 Amount frozen in bank 48,159,179,518.90 7,131,369,498.49 605,647.55
3 Value of properties under interim forfeiture 41,534,605,998.00 77,844,600.00 1,875,000.00 190,000.00
4 Value of cars under interim forfeiture 52,500,000.00
5 ONSA Funds under interim forfeiture 27,001,464,125.20 43,771,433.73
6 Value of Assets Recovered by ONSA 512,000,000.00
7 ONSA Assets under interim forfeiture 260,000,000.00
8 DSS Recoveries Frozen in Banks 658,929,000.00 226,476.20
9 EFCC Cash in Bank under final forfeiture 103,225,209.41 17,165,547.00
Total 126,563,481,095.43 9,090,243,920.15 2,484,447.55 303,399.17
Grand Total 204,888,835,727.25 9,275,363,504.76 5,992,803.01 314,649.17

Funds Awaiting Return From Foreign Jurisdictions

Jurisdiction US Dollar GB Pounds Euro
1 Switzerland 321000000
2 UK 6900000
3 UAE 310501 11826.11
4 USA 6225.1

Total 321,316,726.1 6,900,000 11,826.11

Non Cash Recoveries

Serial Items Quantity
ICPC EFCC ONSA
1 Farmland 22
2 Plot of Land 4
3 Uncompleted Building 1
4 Completed Building 33 145 4
5 Vehicles 22 3
6 Maritime Vessels 5
Total 82 153 4

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