Nigerian Government Recovers Another $151m, N8bn Looted Funds

Nigerian Government Recovers Another $151m, N8bn Looted Funds

The Federal Government says it recovered another $151m and N8bn looted funds from three sources through whistle-blowers.

This was disclosed by the the Minister of Information and Culture, Alhaji Lai Mohammed, in a statement issued on Sunday in Lagos.

According to him, actionable information given by whistle-blowers to the office of the Minister of Justice and Attorney-General of the Federation led to the recovery of the looted fund.

He said the looted funds do not include the $9.2m in cash allegedly owned by a former Group Managing Director of the NNPC, also a dividend of the whistle-blower policy.

He said, “The biggest amount of $136.7m was recovered from an account in a commercial bank, where the money was kept under an apparently fake account name.

“This was followed by N7bn and $15m from another person and N1bn from yet another.”

The minister reiterated the position of government that there was a primitive and mindless looting of the national treasury under the last administration.