‘FG recovered over N120bn from proceeds of crime’

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The Minister of Information and Culture, Lai Mohammed, has disclosed that the President Muhammadu Buhari-led government recovered N120 billion, among other currencies, through the Proceeds of Crime (Recovery and Management) Law, POCA, 2022.

The minister made the disclosure this in Abuja at the eighth edition of the President Muhammadu Buhari, PMB, Administration Scorecard series (2015-2023).

Mr. Mohammed said the Buhari Administration’s fight against corruption was very much on track.

He recalled that the President in May signed the Proceeds of Crime (Recovery and Management) Bill, with two others into law to improve the country’s anti-money laundering and counter-terrorist financing framework.

“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.

“The money is being 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,” he said.