FG Releases Details Of Recovered Assets. See Full List

Read full statement below.

The federal government has fulfilled its promise of releasing details of recovered assets. In a statement issued on Saturday, the current administration said it has made cash recoveries totaling N78 billion since it came to power.

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 totaled 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

Segun Adeyemi

SA to Hon Minister of Information and Culture

Lagos