FG rakes N1.8bn from sale of forfeited assets – Malami
Law / Crime

FG rakes N1.8bn from sale of forfeited assets – Malami

The Federal Government has realised more than N1.828 billion in proceeds from the sale of some forfeited assets.

Minister of Justice, Abubakar Malami, announced this during a presentation of President Buhari’s Administration Scorecard on Thursday in Abuja.

Malami said $641 million recovered loot from the late Gen. Sani Abacha was used for social investment and the development of critical infrastructure.

From the amount, the government spent $319 million on the Lagos-Ibadan Expressway, the Second Niger Bridge and the Abuja-Kano Highway.

On terrorism, the minister said the ministry profiled 3,000 cases, prosecuted 1,500 and recorded 397 convicted.

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He also said the federal government defended some international cases to avoid liabilities running into billions of U.S. dollars.

In line with the cardinal principle of the fight against corruption, he said the government generated  N1.8 billion in forfeited properties.

The government also generated £6.325 million, €5,5 million and $490 million from various jurisdictions from 2021 to date.

“The government is using some of the recovered funds to finance critical infrastructure, including Lagos-Ibadan Expressway, the Second Niger Bridge and Abuja-Kano Highway,”  Malami said.




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