We Have Recovered N288 Billion Looted During Jonathan’s Presidency–Presidency

By Ikenga Chronicles December 20, 2016

The Presidency has disclosed that the Federal Government has recovered a total sum of N288.6 billion from the previous administration of ex-President Goodluck Jonathan.

The Director-General of Budget Office, Ben Akabueze  made this disclosure while fielding questions from journalists at the 2017 Budget Breakdown organized by the Ministry of Budget and Planning at the Old Banquet Hall of the Presidential Villa, Abuja on Monday, December 19.

This came as the Minister of Budget and National Planning, Udo Udoma allayed fears over the non-approval of the Medium Term Expenditure Framework, MTEF by the National Assembly before the presentation of the 2017 budget estimates last week.

While speaking, Akabueze said: “A total of N288.6 billion. This includes N97.6 billion which is equivalent of ‎$220m dollars expected from the Swiss, part of what is called Abacha loot recovery. Then it also includes N72 billion that has already been received in recent cases of loot recovery. And a balance of N90billion.”

“Other expected recoveries are at an advanced and reasonable stage that we feel comfortable and confident that they would come through in 2017 and so they have been reflected in the budget.”

Udoma on his part said that the National Assembly which already had both the MTEF and the budget would work on them at their own pace. He also underscored the determination of the government to pull Nigeria out of recession.

He said: “With respect to the question about the MTEF, the national assembly has the MTEF which has been updated. And they have the budget, so everything is with them. So, they will determine how they treat it. I am sure the sequence will be they do the MTEF before they do the budget. But everything is with the National Assembly.”

“We are determined to bring succor to our people. The only way is by taking strong actions to change the current trajectory of the Nigerian economy. To get out of the recession and bring the country back on the path of growth, government must find the resources to spend on infrastructure and to spend to reflate the economy”.

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