Nigeria Recover $151 Million And $26.32 Million Loot Fund

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Federal Government has recovered another $151 million and N8 billion ($26.32 million) looted funds from three sources through whistle-blowers.
According to the Nigeria Minister of Information and Culture Alhaji Lai Mohammed statement issued on Sunday in Lagos.
He said 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.
Mohammed said the looted funds not consist the $9.2 million in cash allegedly by a former Group Managing Director of the NNPC, also a dividend of the whistle-blower policy.
“The biggest amount of $136.7 million was recovered from an account in a commercial bank, where the money was kept under an apparently fake account name.
“This was followed by N7 billion and $15 million from another person and N1 billion from yet another,” he said.
The minister reiterated the position of government that there was a primitive and mindless looting of the national treasury under the last administration.
He said the whistle-blower policy has started yielding fruit, few months after its adoption by the government.
“The whistle-blower policy is barely two months old and Nigerians have started feeling its impact, how a few people squirreled away public funds.
It is doubtful if any economy in the world will not feel the impact of such mind-boggling looting of the treasury as was experienced in Nigeria.
“Yet whatever has been recovered so far, including the $9.2 million by the EFCC, is just a tip of the iceberg,” he said.
The minister appealed to Nigerians with useful information on looted funds to continue to provide the authorities with such information, saying confidentiality will be maintained with regards to the source of the information.
He also reminded Nigerians of the financial reward aspect of the policy

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