Nigeria publishes details of recovered assets, withholds names of looters

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.

The names of the corrupt officials from whom the assets were recovered were however not disclosed.

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

Serial	Items	Naira	US Dollar	GB Pounds	Euro
1	EFCC Cash at hand	39,169,911,023.00	128,494,076.66	2,355	11,250
2	Royalty/tax/payment to FGN account in JP Morgan account New York	4,642,958,711.48	40,727,253.65
3	ONSA Funds Recovery Account in CBN	5,665,305,527.41	8,000,000.00
4	VAT recovered from companies by ONSA	529,588,293.47
5	EFCC Recovered Funds Account in CBN	19,267,730,359.36	455,253.80
6	ICPC Revenue Collection Recovery in CBN	869,957,444.89
7	Office of the Attorney General	5,500,000,000	5,500,000
8	DSS Recoveries	47,707,000.5	1,943,000.5	3,506,000.46
9	ICPC Cash Asset Recovery	2,632,196,271.71
	Total	78,325,354,631.82	185,119,584.61	3,508,355.46	11,250

Recoveries Under Interim Forfeiture

Serial	Items	Naira	US Dollar	GB Pounds	Euro
1	Cash in bank under interim forfeiture	8,281,577,243.92	1,819,866,364.73	3,800.00	113,399.17
2	Amount frozen in bank	48,159,179,518.90	7,131,369,498.49	605,647.55
3	Value of properties under interim forfeiture	41,534,605,998.00	77,844,600.00	1,875,000.00	190,000.00
4	Value of cars under interim forfeiture	52,500,000.00
5	ONSA Funds under interim forfeiture	27,001,464,125.20	43,771,433.73
6	Value of Assets Recovered by ONSA	512,000,000.00
7	ONSA Assets under interim forfeiture	260,000,000.00
8	DSS Recoveries Frozen in Banks	658,929,000.00	226,476.20
9	EFCC Cash in Bank under final forfeiture	103,225,209.41	17,165,547.00
	Total	126,563,481,095.43	9,090,243,920.15	2,484,447.55	303,399.17
	Grand Total	204,888,835,727.25	9,275,363,504.76	5,992,803.01	314,649.17

Funds Awaiting Return From Foreign Jurisdictions

	Jurisdiction	US Dollar	GB Pounds	Euro
1	Switzerland	321000000
2	UK		6900000
3	UAE	310501		11826.11
4	USA	6225.1

	Total	321,316,726.1	6,900,000	11,826.11

Non Cash Recoveries

Serial	Items		Quantity
		ICPC	EFCC	ONSA
1	Farmland	22
2	Plot of Land	4
3	Uncompleted Building	1
4	Completed Building	33	145	4
5	Vehicles	22	3
6	Maritime Vessels		5
	Total	82	153	4