FG Reveled It Recovered A Staggering Amount Of N120 Billion From Proceeds of Crime

Date: 08-12-2022 10:26 am (1 month ago) | Author: Bayo Nelson
- at 8-12-2022 10:26 AM (1 month ago)
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The Federal Government has recovered a staggering N120 billion from the proceeds of crime under President Muhammadu Buhari’s administration.] The revelation was made by the Minister of Communications and Culture, Lai Mohammed on Wednesday at the 8th Edition of ‘PMB Administration Scorecard Series (2015-2023)’ in Abuja. He explained that the recoveries were made as a result of the implementation of the Proceeds of Crime (Recovery and Management) Act, 2022.
 
He added that the implementation of POCA has necessitated relevant agencies to open, ‘A confiscated and Forfeiture Properties Account with the Central Bank of Nigeria to ensure transparency. He disclosed that the proceeds are used to facilitate the completion of the 2nd Niger Bridge, Lagos-Ibadan and Abuja-Kano expressways.
 
“I can confirm that so far, the Federal Government has realised over N120bn, among other currencies, from POCA “This money will be used to fund the completion of ongoing critical infrastructure projects in the country, like the Second Niger Bridge and the Lagos-Ibadan and Abuja-Kano expressways. We will continue to update you on this,” he said.


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