Discrepancies Found In Nigeria's Loot Recovery Records

The House of Representatives ad-hoc committee investigating the status of all recovered assets from 2002 to 2020 by federal agencies has queried the Accountant-General of the Federation over discrepancies and other infractions observed in remittances of recovered funds he made to the Central Bank of Nigeria. Sabo Mohammed, the representative of the Accountant General of the Federation, Ahmed Idris, was unable to defend the differences discovered by the committee during the hearing. The panel is probing the status of all recovered loot as well as movable and immovable asset recovered from 2002 to 2020. Meanwhile, the Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to "urgently direct Finance Minister Zainab Ahmed, to disclose spending details of the U.S.$700 million looted funds reportedly recovered by the government in the past four years, including the list and location of projects completed with the money, as well as details of the contractors who undertook the projects."

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