Looted funds in Nigeria; do you understand the money circulation of Nigeria?

Obinwannem News Looted funds in Nigeria; do you understand the money circulation of Nigeria?

First and foremost what are looted funds? This is the amount of government money stolen without the masses’ consent for personal reasons. The Federal Government has released a list of some of those who allegedly looted the nation’s treasury.

The Minister of Information and Culture, Lai Mohammed, released the list at a press conference in Lagos on Friday. Mohammed said the individuals include officials in the past government. Daily post recorded that; The names revealed by the Federal Government, also include PDP chieftains who are currently being tried for corruption and financial crimes.

“The PDP has challenged us to name the looters under their watch. They said they did not loot the treasury. Well, I am sure they know that the treasury was looted dry under their watch. Yet they decided to grandstand.

This shows the hollowness of their apology,” Mohammed said as he released the names. Names involved in this the list include PDP Chairman Uche Secondus Allegation: On the 19th of Feb 2015, he took N200 million only from the office of the NSA.

On trial for allegedly collecting N1.4bn from the office of former NSA. Dr. Raymond Dokpesi, Chairman of DAAR Communication. On trial for allegedly taking N2.1 billion from the office of the former NSA.

Former SSA to President Goodluck Jonathan, Dudafa Waripamo-Owei On trial, over N830 million allegedly kept in accounts of four different companies. Former President Goodluck Jonathan’s Cousin Robert Azibaola They are in court and the records are available. Some of the people on this list are seeking to plea bargain, and that is a fact.

“We insist that Nigeria was looted blind under the watch of the PDP and that the starting point in tendering an apology is for them to return the loot,” he said. Mohammed said further that the APC will not stop talking about the alleged looting by the PDP. “We will not stop talking about the massive looting by the PDP. They brought Nigeria to this sorry pass.

The punch recorded that The Federal Government on Sunday released an additional 23 new names of alleged treasury looters including former Governors of Plateau, Niger, and Oyo – Jonah Jang, Babangida Aliyu and Rasheed Ladoja -respectively.

The Minister of Information and Culture Alhaji Lai Mohammed in a statement issued in Lagos said the new list and the one earlier released were not arbitrary but based on verifiable facts. The statement was signed and made available to newsmen by Mr. Segun Adeyemi, the Special Adviser to the Minister.

The minister alleged that Jang looted N12.5 billion, Aliyu looted N1.6 billion from the office of the National Security Adviser while Ladoja allegedly stole N500 million. The second batch of the alleged looters also included former NSA Sambo Dasuki and former Petroleum Resources Minister Dieziani Alison-Madukwe.

On Dasuki loot, the minister said: “Based on EFCC investigations and findings alone (this is beside the ongoing 2.1 billion dollars military equipment scandal), a total of N126 billion, over $1.5 billion and 5.5 million British Pounds was embezzled through his office

Written By Adeluwoye Comfort Eniola Obinwannem News

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