Nigeria’s Information and Culture Minister, Lai Mohammed says the present administration has received $120 bn and some other foreign currencies in the recently activated proceed of crime Recovery and Forfeiture account from different individuals, government agencies and others.
It was on that note that he stated that the country’s fight against corruption is very much on track and waxing stronger.
He made this known during the 8th edition of President Muhammadu Buhari’s scorecard series when he hosted the Minister for Environment to present the Ministry’s scorecard on Wednesday in Abuja.
The Minister said the President signed into law the Proceeds of Crime (Recovery and Management) Bill, 2022, on May 12th, 2022 and further confirmed that so far, the Federal Government has realized over 120 billion Naira, among other currencies, from Proceed of crime Account.
“Others are the Money Laundering (Prevention and Prohibition) Bill, 2022 and the Terrorism (Prevention and Prohibition) Bill, 2022.
“I have an update on the Proceeds of Crime (Recovery and Management) Act (POCA), 2022. In line with the new law, all relevant agencies of government have now opened ‘Confiscated and Forfeiture Properties Account with the Central Bank of Nigeria (CBN).
“I can confirm that so far, the Federal Government has realized over 120 billion Naira, 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 as well as Lagos-Ibadan and Abuja-Kano Expressways. We will continue to update you on this.”
“As you may already know Mr President signed into law the Proceeds of Crime (Recovery and Management) Bill, 2022, on May 12th, 2022. That bill was one of the three which Mr. President signed into law that day.” He added
PIAK
