Lack of funds is stalling
Nigeria’s effort to trace and
recover its stolen monies, and
prosecute former government
officials responsible for the
heist, the presidency has said.
A letter by the Presidential
Advisory Committee on
Corruption (PACC) to a
United Kingdom-based anti-
corruption organisation,
Global Witness, soliciting
assistance in raising funds,
revealed that due to the fall
in crude oil prices and the
general economic downturn,
the government lacked the
needed funds to pursue
recovery of loots.
The letter, dated February 15,
2016, was signed by the
Executive Secretary of PACC,
Bolaji Owasanoye, and
directed to the Director of
Global Witness, Simon
Taylor.
It stated that the commitment
of the government to tackle
Boko Haram insurgency, fight
corruption and improve the
livelihood of Nigerians
through job creation, was
being hampered by
dwindling oil revenue and
mounting debts.
Mr. Owasanoye, a professor,
argued that the economy
could not be revived simply
by improving revenue
generation, without wiping
out corruption and
recovering money stolen
former officials.
He said ongoing
investigations into the
diversion of arms funds by
the former National Security
Adviser (NSA), Sambo Dasuki,
and ex-military chiefs, show
that significant amount of the
money needed by the
government to alleviate
poverty were still in “the
pockets and bank accounts of
looters of public funds”.
He said intelligence reports
and court rulings elsewhere
have shown that there were
more funds to be recovered
from the immediate past
Petroleum Minister, Diezani
Alison-Madueke, the
fraudulent sale of OPL 245 by
Malabu Oil and Gas, a
company owned by “a well-
known money launderer”,
Dan Etete, assets traced to
former Delta State Governor,
James Ibori, and former
military ruler, Sani Abacha.

http://www.globalnaijablog.com/2016/02/20/why-we-cant-recover-funds-looted-by-ex-minister-alison-madueke-others-presidency/

Source please

Good bad news

I thought abracadabra is available for such mission. Money wey be say some people are already spending d retrieved ones

we told u 'it takes more to fight for your right than to let it go' but u wouldn't listen.



LEAVE THESE PEOPLE AND FACE THE ECONOMY!!!!




THE MASSES ARE SUFFERING!!!!

I thought we have recovered USD3Trillion we can access and use the fund for more recovering