Buhari Conducts FEC Meeting As Malami Announces Recovery Of $1Bn Loot Since 2015 - Mc Ebisco
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Buhari conducts FEC meeting as Malami announces recovery of $1Bn loot since 2015

Nigeria has recovered a total sum of $1 billion in loot since 2015, the minister of justice and attorney-general of the federation, Abubakar Malami, has revealed.

He made this known in Abuja on Wednesday, November 23, at the Aso Villa while briefing state house correspondents at the Federal Executive Council (FEC).

As reported by The Nation online, Malami revealed that FEC had approved a new strategy document to further enhance the fight against corruption in Nigeria.

When asked what the loot would be used for, Malami replied that the looted funds would be distributed across various sectors to help enable reforms.

Malami speaks on issue of budget padding

He revealed that the federal government will not shy away from the issue of budget padding and that preventive measures are ongoing to clamp down on this trend.

Legit gathered that Sadiya Umar Farouq who heads the ministry of humanitarian affairs blamed the ministry of finance, budget and national planning for adding N206 billion to the budget of the her ministry (humanitarian affairs).

While defending her 2023 budget, Farouq, during her appearance before the senate committee on special duties on Monday, November 21, stated that her ministry requested a series of projects.

These projects included the northeast development commission and the national social safety net project stipulated in the 2022 budget, which was not released but was surprised to see an excessive amount in the 2023 budget of the ministry.

In another development, the minister of defense, Bashir Magashi, disclosed to the red chamber that the minister of finance, budget and national planning had induced the sum of N11 billion into his ministry’s 2023 budget.

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