Breaking news: Nigeria releases interim report on assets recovered from looters

BREAKING: Nigeria releases interim report on assets recovered from looters June 4, 2016Sani Tukur  Muhammadu Buhari in an Aljazeera Interview   President Muhammadu Buhari on Saturday partially fulfilled his promise to publish specific details of funds traced to and recovered from corrupt former government officials as part of his war against endemic graft. Details of the recoveries, published by the Federal Ministry of Information, showed that the Nigerian government successfully retrieved total cash amount N78,325,354,631.82, $185,119,584.61, £3,508,355.46 and €11, 250 between May 29, 2015 and May 25, 2016. Also released were recoveries under interim forfeiture, which were a combination of cash and assets, during the same period: N126,563,481,095.43, $9,090,243,920.15, £2,484,447.55 and €303,399.17. Anticipated repatriation from foreign countries totaled: $321,316,726.1, £6,900,000 and €11,826.11. The ministry also announced that 239 non-cash recoveries were made during the one-year period. The non-cash recoveries are – farmlands, plots of land, uncompleted buildings, completed buildings, vehicles and maritime vessels, the ministry said. Since May 29, the president had endured intense criticism from the Nigerian public who criticised him for failing to fulfill a promise he made on May 14 in London. Read full statement below.  The Federal Government made cash recoveries totaling 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 SerialItemsNairaUS DollarGB PoundsEuro1EFCC Cash at hand39,169,911,023.00128,494,076.662,35511,2502Royalty/tax/payment to FGN account in JP Morgan account New York4,642,958,711.4840,727,253.653ONSA Funds Recovery Account in CBN5,665,305,527.418,000,000.004VAT recovered from companies by ONSA529,588,293.475EFCC Recovered Funds Account in CBN19,267,730,359.36455,253.806ICPC Revenue Collection Recovery in CBN869,957,444.897Office of the Attorney General5,500,000,0005,500,0008DSS Recoveries47,707,000.51,943,000.53,506,000.469ICPC Cash Asset Recovery2,632,196,271.71Total78,325,354,631.82185,119,584.613,508,355.4611,250 Recoveries Under Interim Forfeiture SerialItemsNairaUS DollarGB PoundsEuro1Cash in bank under interim forfeiture8,281,577,243.921,819,866,364.733,800.00113,399.172Amount frozen in bank48,159,179,518.907,131,369,498.49605,647.553Value of properties under interim forfeiture41,534,605,998.0077,844,600.001,875,000.00190,000.004Value of cars under interim forfeiture52,500,000.005ONSA Funds under interim forfeiture27,001,464,125.2043,771,433.736Value of Assets Recovered by ONSA512,000,000.007ONSA Assets under interim forfeiture260,000,000.008DSS Recoveries Frozen in Banks658,929,000.00226,476.209EFCC Cash in Bank under final forfeiture103,225,209.4117,165,547.00Total126,563,481,095.439,090,243,920.152,484,447.55303,399.17Grand Total204,888,835,727.259,275,363,504.765,992,803.01314,649.17 Funds Awaiting Return From Foreign Jurisdictions JurisdictionUS DollarGB PoundsEuro1Switzerland3210000002UK69000003UAE31050111826.114USA6225.1Total321,316,726.16,900,00011,826.11 Non Cash Recoveries       SerialItems Quantity  ICPCEFCCONSA1Farmland22  2Plot of Land4  3Uncompleted Building1  4Completed Building3314545Vehicles223 6Maritime Vessels 5 Total821534 Segun Adeyemi SA to Hon Minister of Information and Culture Lagos 4 June 2016