Sunday, 5 June 2016

Nigeria Seizes Billions In Looted Cash

Nigerian officials say they have seized more than $10.3bn (£7.1bn) in looted cash and assets in the past year as part of an anti-corruption drive by the country's president.

Information Minister Lai Mohammed said the funds include $583.5m in cash and $9.7bn in cash and assets under interim forfeiture, including sea-going vessels, buildings and land.

The minister's special adviser Segun Adeyemi told Reuters: "All these are monies recovered from individuals and entities who had either hidden, stolen, diverted or were in possession of monies belonging to the nation.

"These recovered funds include monies withheld by past government officials, monies kept in private accounts, monies diverted to private pockets and monies in possession of government officials not disclosed after leaving government."


Nigeria also expects the return of some $330m stolen from its public treasury and moved to overseas banks, most of it in Switzerland, according to Mr Mohammed.


Culled from news.sky.com/

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